1. Jack Dorsey says Twitter will ban all political ads
Arguing that “internet political ads present entirely new challenges to civic discourse,” CEO Jack Dorsey announced that Twitter will be banning all political advertising — albeit with “a few exceptions” like voter registration. Not only is this a decisive move by Twitter, but it also could increase pressure on Facebook to follow suit, or at least take steps in this direction.
The Senate Intelligence Committee’s hearing on foreign use of social media to influence US politics took place Wednesday morning with two of the big tech companies that senators wanted to hear from present — and one empty chair.
Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey were in the room and testifying. Google had offered to send Kent Walker, its senior vice president of global affairs, but the committee declined, saying it wanted someone more senior. Google did not offer anyone. So next to Sandberg and Dorsey was an empty chair, with a placecard for Google.
A few days before Twitter’s Sept. 8 board meeting, as the company’s finance team readied a presentation, it received conflicting directions on a crucial question. Should their slides reflect Twitter’s prospects as an independent company or delve into the benefits of getting acquired?
Jack Dorsey, Twitter’s chief executive officer, argued that the 10-year-old company should remain on its current course and work to capitalize on recent product improvements and success in streaming live video, people familiar with the discussions said. Ev Williams, a former CEO who has a history of clashing with Dorsey, was in favor of exploring a sale. Other directors agreed they had a fiduciary duty to consider that option. The board ultimately decided to consider takeover prospects after getting an expression of interest from a potential acquirer, which led it to hire Goldman Sachs and Allen & Co. to evaluate possible bids.
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