Connect with us

Technology

Twitter’s Dick Costolo Stepping Down as CEO

Published

on

In this Jan. 8, 2014 file photo, Twitter CEO Dick Costolo speaks during a panel discussion at the International Consumer Electronics Show in Las Vegas. Costolo will step down as CEO of Twitter after almost five years, the company and Costolo announced Thursday, June 11, 2015. (AP Photo/Jae C. Hong, File)

In this Jan. 8, 2014 file photo, Twitter CEO Dick Costolo speaks during a panel discussion at the International Consumer Electronics Show in Las Vegas. Costolo will step down as CEO of Twitter after almost five years, the company and Costolo announced Thursday, June 11, 2015. (AP Photo/Jae C. Hong, File)

BRANDON BAILEY, AP Technology Writer

SAN FRANCISCO (AP) — Twitter CEO Dick Costolo, who helped turn the trendy messaging startup into a global town square, is stepping down amid criticism over the company’s disappointing financial performance and a recent stock slide.

Co-founder Jack Dorsey, who served as CEO during Twitter’s early years, will temporarily take the reins while the San Francisco company looks for a permanent replacement.

Investors greeted the move with enthusiasm, driving Twitter shares up nearly 6 percent in late trading after the announcement Thursday afternoon. Both Dorsey and Costolo, however, expressed confidence in the company’s direction and said the board isn’t seeking major changes.

“I believe in the course the company is on and the management team’s ability to fulfill that and execute on it,” Dorsey, who is also board chairman, said during a joint conference call with Costolo and Wall Street analysts.

Both men characterized Costolo’s departure, effective July 1, as voluntary. The 51-year-old Costolo said he began talking with Twitter directors about leaving last year, although he did not say what he plans to do next. He will not receive any severance package.

Costolo had been Twitter’s CEO for five years and led the company through a successful stock market debut in 2013. Though he once worked as a stand-up comedian, Costolo has a degree in computer science and led three earlier tech startups, including one that he sold to Google. He was hired as chief operating officer for Twitter in 2009, three years after its launch.

His efforts to turn the once-quirky messaging service into a significant industry player, and a major venue for online advertising, made Costolo a respected figure in Silicon Valley. Two years ago, Time magazine named him “one of the most influential minds in tech.”

But even though Twitter Inc. had $1.4 billion in revenue last year, primarily from digital ads, it hasn’t made a profit as a public company. And its shares have not recovered since they lost almost a third of their value after the company’s last quarterly financial report in April, when it missed Wall Street revenue estimates and prompted some analysts to question the company’s leadership.

At that time, the company also lowered its financial outlook. On Thursday, Dorsey said the company is making no further changes in its financial projections.

While Twitter reported 301 million monthly users in the first quarter of this year, up 18 percent from a year earlier, it hasn’t seen the kind of growth that its bigger rival Facebook has enjoyed.

Under Costolo, the company introduced new advertising products and user features, including Periscope, which allows users to post live streaming video. But if its fans are fiercely loyal, critics say newcomers still find it daunting to learn Twitter’s quirky terminology and customs.

“The vast majority of people who signed up no longer use the service,” said Nate Elliott, a social media analyst at Forrester Research. “They need to do a much better job at giving people a reason to come back every day and making marketers happy.”

“There were lingering concerns among some investors around the leadership capabilities of Mr. Costolo,” added stock analyst Colin Sebastian of RW Baird, in a note to clients after the announcement.

Costolo will remain on Twitter’s board of directors. Dorsey said the company will consider internal and external candidates for his permanent replacement.

According to a company filing, the board won’t decide until later this year if he is to receive extra pay for taking on the CEO duties. The 38-year-old Dorsey said he’ll also continue to run Square, the payment processing startup he founded after a previous stint as Twitter’s CEO ended in 2008.

Costolo tweeted about the change Thursday afternoon. Greeting Dorsey by his Twitter handle, Costolo wrote “Welcome back, @jack” and linked to the official Twitter announcement.

While Dorsey said a search committee will set criteria for selecting the next CEO, he added, “We’re looking for someone who really uses and loves the product.”

___

Technology Writer Mae Anderson contributed from New York.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Bay Area

How Is AI Affecting California? The State Wants You to Share Your Story

The program marks the first time the state has opened the platform to all Californians. State officials said the effort is designed to give residents a direct role in discussions about how AI should be regulated and used as the technology rapidly expands across industries.

Published

on

iStock
iStock

By Bo Tefu, California Black Media  

Gov. Gavin Newsom announced May 7 that California is expanding its Engaged California digital democracy initiative statewide, inviting residents to help shape future state policies on artificial intelligence (AI) and its impact on jobs and the economy.

The program marks the first time the state has opened the platform to all Californians. State officials said the effort is designed to give residents a direct role in discussions about how AI should be regulated and used as the technology rapidly expands across industries.

“We’ve got to be clear-eyed about this moment: AI is moving fast, bringing enormous opportunity, but also real risks,” Newsom said in a statement. “Californians deserve a seat at the table as we shape what’s to come.”

The initiative will roll out in two phases. Beginning immediately, Californians can sign up online to share how AI is affecting their work and communities and provide ideas for possible government action. Later this summer, a smaller group reflecting the state’s workforce demographics will participate in live discussions focused on developing policy recommendations.

State officials said the goal is to identify areas of agreement among Californians and provide policymakers with public feedback as the state develops future AI regulations and workforce strategies.

Engaged California is modeled after digital democracy programs used in Taiwan and is intended to encourage structured public discussion rather than social media-style debate. Officials described the effort as a form of “deliberative democracy” aimed at helping residents engage directly in state decision-making.

“The more Californians are engaged in the democratic process, the better able we’ll be to confront the challenges we face together,” said Nick Maduros, California Secretary of Government Operations, in a statement.

The statewide launch builds on two earlier pilot programs. One pilot gathered public input following the Los Angeles firestorms to help guide recovery efforts, while another collected ideas from state employees about improving government operations.

California has positioned itself as a national leader in AI policy and development. Since 2023, the Newsom administration has introduced initiatives focused on responsible AI use in government, cybersecurity protections, workforce training and regulations targeting risks such as deepfakes and AI-generated robocalls.

The state has also partnered with companies in Silicon Valley — including NVIDIA, Google, Adobe, IBM and Microsoft — to expand AI education and workforce training programs across California schools and universities.

Continue Reading

Activism

OP-ED: AB 1349 Puts Corporate Power Over Community

Since Ticketmaster and Live Nation merged in 2010, ticket prices have jumped more than 150 percent. Activities that once fit a family’s budget now take significant disposable income that most working families simply don’t have. The problem is compounded by a system that has tilted access toward the wealthy and white-collar workers. If you have a fancy credit card, you get “presale access,” and if you work in an office instead of a warehouse, you might be able to wait in an online queue to buy a ticket. Access now means privilege.

Published

on

Bishop Joseph Simmons, Senior Pastor, Greater St. Paul Baptist Church, Oakland
Bishop Joseph Simmons, Senior Pastor, Greater St. Paul Baptist Church, Oakland

By Bishop Joseph Simmons, Senior Pastor, Greater St. Paul Baptist Church, Oakland

As a pastor, I believe in the power that a sense of community can have on improving people’s lives. Live events are one of the few places where people from different backgrounds and ages can share the same space and experience – where construction workers sit next to lawyers at a concert, and teenagers enjoy a basketball game with their grandparents. Yet, over the past decade, I’ve witnessed these experiences – the concerts, games, and cultural events where we gather – become increasingly unaffordable, and it is a shame.

These moments of connection matter as they form part of the fabric that holds communities together. But that fabric is fraying because of Ticketmaster/Live Nation’s unchecked control over access to live events. Unfortunately, AB 1349 would only further entrench their corporate power over our spaces.

Since Ticketmaster and Live Nation merged in 2010, ticket prices have jumped more than 150 percent. Activities that once fit a family’s budget now take significant disposable income that most working families simply don’t have. The problem is compounded by a system that has tilted access toward the wealthy and white-collar workers. If you have a fancy credit card, you get “presale access,” and if you work in an office instead of a warehouse, you might be able to wait in an online queue to buy a ticket. Access now means privilege.

Power over live events is concentrated in a single corporate entity, and this regime operates without transparency or accountability – much like a dictator. Ticketmaster controls 80 percent of first-sale tickets and nearly a third of resale tickets, but they still want more. More power, more control for Ticketmaster means higher prices and less access for consumers. It’s the agenda they are pushing nationally, with the help of former Trump political operatives, who are quietly trying to undo the antitrust lawsuit launched against Ticketmaster/Live Nation under President Biden’s DOJ.

That’s why I’m deeply concerned about AB 1349 in its current form. Rather than reining in Ticketmaster’s power, the bill risks strengthening it, aligning with Trump. AB 1349 gives Ticketmaster the ability to control a consumer’s ticket forever by granting Ticketmaster’s regime new powers in state law to prevent consumers from reselling or giving away their tickets. It also creates new pathways for Ticketmaster to discriminate and retaliate against consumers who choose to shop around for the best service and fees on resale platforms that aren’t yet controlled by Ticketmaster. These provisions are anti-consumer and anti-democratic.

California has an opportunity to stand with consumers, to demand transparency, and to restore genuine competition in this industry. But that requires legislation developed with input from the community and faith leaders, not proposals backed by the very company causing the harm.

Will our laws reflect fairness, inclusion, and accountability? Or will we let corporate interests tighten their grip on spaces that should belong to everyone? I, for one, support the former and encourage the California Legislature to reject AB 1349 outright or amend it to remove any provisions that expand Ticketmaster’s control. I also urge community members to contact their representatives and advocate for accessible, inclusive live events for all Californians. Let’s work together to ensure these gathering spaces remain open and welcoming to everyone, regardless of income or background.

Continue Reading

Alameda County

OPINION: Argent Materials Oakland CleanTech Community Asset Helps Those In Need

Alameda County Supervisor Lena Tam had this to say about Argent Materials as an Oakland community asset:  “Congratulations to Argent Materials and its President and Founder, Bill Crotinger! The company is now fully operational, recycling an impressive 99.99% of concrete and asphalt debris, which helps divert thousands of tons of construction waste from landfills. They are also proud to announce that 50% of their team consists of local hires. In celebration of Thanksgiving, and despite stormy weather last week, the Alameda County Sheriffs, alongside Mr. Crotinger and Argent Materials’ dedicated staff distributed turkeys and pies as a heartfelt gesture of gratitude to the community.”  

Published

on

Photo courtesy Argent Materials, Inc.

Zennie Abraham
CEO, Zennie62Media

Argent Materials, the Oakland business that turns old concrete and asphalt into new construction products, generally goes by “Argent Materials Oakland CleanTech” but should be called “Argent Materials East Oakland CleanTech for The Community”.  Here’s why.

First, Argent Materials is located at 8300 Baldwin St, right in the Coliseum Industrial Zone, just a three-minute drive from the Oakland-Alameda County Coliseum Complex.  That’s in East Oakland, and just a city-block walk from the Oakland Coliseum BART Station.

Second, Argent Materials has been a friend to East Oakland and what some, like the members of the Oakland Private Industry Council, would call a “community asset”.  In 2024, Argent Materials founder and President Bill Crotinger was named Leader of the Year by the Oakland Private Industry Council (OPIC) “I was humbled and honored to be named Leader of the Year by the Oakland Private Industry Council. Truly an honor. My heartfelt thanks to my friend and mentor Pastor Raymond Lankford and all the wonderful people at OPIC.”

Alameda County Supervisor Lena Tam had this to say about Argent Materials as an Oakland community asset:  “Congratulations to Argent Materials and its President and Founder, Bill Crotinger! The company is now fully operational, recycling an impressive 99.99% of concrete and asphalt debris, which helps divert thousands of tons of construction waste from landfills. They are also proud to announce that 50% of their team consists of local hires. In celebration of Thanksgiving, and despite stormy weather last week, the Alameda County Sheriffs, alongside Mr. Crotinger and Argent Materials’ dedicated staff distributed turkeys and pies as a heartfelt gesture of gratitude to the community.”

ABI Foundry reports that Argent Materials led a community clean up for the residents and businesses of Russett Street as well as San Leandro Street.  An ABI Foundry team member said “Bill Crotinger at Argent Materials spearheaded the initiative to clean San Leandro street, from Hegenburger to 98th Ave. along the side of BART. AB&I enjoyed participating along with Acts Full Gospel C.O.G.I.C (Men of Valor), Good Hope Missionary Baptist Church-Oakland (Reverend Michael Jones) and Argent Materials. You should see how it looks now. It is AMAZING! It takes an ambitious mind to make a difference block by block.”

What Is Cleantech And Why Is It Important to Oakland And Argent Materials?

Clean technology (Clean Tech) refers to products, services, and processes that mitigate negative environmental impacts by increasing energy efficiency, promoting resource sustainability, and minimizing waste and pollution, ultimately contributing to a low-carbon, and more sustainable economy.

What is The Clean Tech of Argent Materials of Oakland?

In Argent Materials’ context, “cleantech” refers to their sustainable business model which includes recycling concrete and asphalt into new aggregate materials, diverting waste from landfills, and using renewable diesel for their fleet to achieve carbon neutrality and protect the environment. This business approach Argent Materials uses aligns with the broader definition of cleantech, which involves products, services, and processes that reduce negative environmental impacts through resource efficiency and environmental protection

Clean Tech, or green tech as Argent Materials of Oakland does it, is defined as any technology that minimizes negative environmental impact by reducing human consumption of natural resources and by promoting more sustainable and efficient resource use.

Argent Materials will continue to be a cleantech community asset to Oakland well into the future.

Stay tuned.

Continue Reading

Subscribe to receive news and updates from the Oakland Post

* indicates required

CHECK OUT THE LATEST ISSUE OF THE OAKLAND POST

ADVERTISEMENT

WORK FROM HOME

Home-based business with potential monthly income of $10K+ per month. A proven training system and website provided to maximize business effectiveness. Perfect job to earn side and primary income. Contact Lynne for more details: Lynne4npusa@gmail.com 800-334-0540

Facebook

Oakland Mayor Barbara Lee. File photo.
Bay Area2 hours ago

Oakland Mayor Pushes Charter Overhaul to Clarify Roles in City Government, Increase Accountability and Improve Service Delivery

Sen. Laura Richardson (D-San Pedro) presents a Senate resolution to the Delta Theta Sigma Sorority Farwest Region at the State Capitol on May 4. Photo courtesy of the Senate Rules Committee.
Activism2 hours ago

The Ladies of Delta Sigma Theta Hold Day of Advocacy at the Capitol in Sacramento

iStock
Activism2 hours ago

Rep. Kamlager-Dove Introduces Bill to Protect Women in Custody After Reports Detailing Miscarriages and Neglect

Hon. Steve Bradford, candidate for California Insurance Commissioner.
Bay Area2 hours ago

Q&A with Steven Bradford: Why He Wants Your Vote for California Insurance Commissioner

Tennessee State Rep. Justin Jones (D-Nashville). File photo.
Activism2 hours ago

OPINION: The Fire of Oakland’s Justin Jones

iStock
Bay Area3 hours ago

How Is AI Affecting California? The State Wants You to Share Your Story

iStock
Activism3 hours ago

California Launches Free Diaper Program for Newborns Statewide

Book covers. Photo courtesy of Terri Schlichenmeyer.
Advice4 hours ago

Book Review: Books for College-Bound Students

Photo courtesy of the office of Assemblymember Corey Jackson (D-Moreno Valley).
Activism4 hours ago

Asm. Jackson Bill Requiring Anti-Hate Speech Training for Calif. Public Officials Sent to “Suspense File”

iStock
Activism4 hours ago

More and More, Black Californians Are Worried About Rising Costs of Housing, Energy, Food and Gas 

Crime Survivors Speak at the California State Capitol was a multi-day advocacy event held May 4–6 that called for increased support, services, and funding for crime victims. Organized by Crime Survivors for Safety and Justice (CSSJ), the gathering brought together more than 200 survivors and family members to advocate for legislative reforms. CBM photo by Antonio Ray Harvey.
Activism4 hours ago

Advocates Rally at State Capitol to Demand Heat Protections for Incarcerated People; More Funding for DV Survivors

Lecturer Lisa Troseth will speak on "Moving past fear to healing" on May 23 at the Orinda Library Auditorium. Photo courtesy of the Christian Science Board of Lectureship.
Bay Area2 days ago

Coming to Orinda: A Lecture on Finding the Strength to Heal and Move Past Fear With Divine Love

William “Bill” Patterson, Jr. Courtesy Peralta College District
Activism2 days ago

EBMUD Enshrines the Legacy of  its First Black Board Member William ‘Bill’ Patterson 

Mary Jackson. Public domain.
Arts and Culture2 days ago

Against All Odds: Mary Jackson’s Journey to NASA Engineer

Researchers pointed out that the number amounts to 1 in every 50 adults, with 3 out of 4 disenfranchised living in their communities, having completed their sentences or remaining supervised while on probation or parole. (Photo: iStockphoto)
Activism2 days ago

Supreme Court Voting Rights Ruling Reverberates From the South to California

Trending

Copyright ©2021 Post News Group, Inc. All Rights Reserved.