Twitter CEO Jack Dorsey had a couple tricks up his sleeve for the company's annual shareholder meeting.
Every year, Twitter must face the wrath of its shareholders in real life. Usually it's the same old thing — questions about the company's leadership and concerns about the platform's viability as a business.
This year, Dorsey came prepared. He debuted a new live video tab in the company's mobile app. Twitter has been investing heavily in live video. Now, it has a place to live.
To go along with the product was a new Dorsey displaying a previously unseen confidence on stage before Twitter shareholders.
Despite being despised by some shareholders for serving as CEO of Twitter and of payments company Square, Dorsey repeatedly declared that he and Twitter are "focused to one job" and they're doing it.
That job: Telling Twitter users what's happening.
A new Twitter tab and a new Jack weren't enough to quell the broader concerns about the company. They're still hung up on that same old thing.
"You missed nothing! Embarrassing shareholder meeting," a Twitter shareholder, who wished to remain anonymous, said in a direct message right after the presentation ended. "This company is a 16-cylinder diesel engine, that's been barely running on two cylinders for the past several years."
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Some of the words from Twitter CEO Jack Dorsey were the same as the year prior. Last year, Dorsey essentially spent the meeting defending the existence of the platform he founded ten years ago at the time.
“We believe the world needs Twitter,” Dorsey said last year. “We believe it is and it can be the first place that people go to when they want to find out what’s happening in the world, when they want to get their news, when they want to have a conversation.”
That mission hasn't really changed, other than a new commitment to curb abuse. What's different is that these days, no one's really questioning whether or not Twitter should exist. Nearly every day, we see the President of the United States share his thoughts via the platform.
Still, Dorsey is still explaining and essentially defending what Twitter is. But at least now he's also able to show off work that his team at Twitter has done.
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"We are focused to one job ... answering that fundamental human question ... 'What's happening? What's going on? And what do people think about it? We want Twitter to have the first answer," Dorsey said toward the beginning of this year's meeting.
What's changed is that Dorsey and his team actually have some things to show off in how Twitter is meeting that goal and becoming more of a daily activity for people. Twitter is growing, something it wasn't doing before.
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How are they getting more activity from users?
Twitter has been focused on making the Twitter experience better for users primarily through curbing abuse and making the timeline more relevant, according to Dorsey.
"The way to reach you is through a notification ... kind of like being a little bird that flies on your shoulder and tells you, 'Hey this is what's happening,'" Dorsey said.
Dorsey spent his portion of the meeting going through three product changes: Twitter Lite (data light version of the app that operates better for places with little bandwidth); the Explore tab (an area of the app to find content); and Safety (new muting and blocking features).
"We think we can strengthen that ... not only do you have the timeline but you also have explore," Dorsey said. "Explore is everything else that's happening. We want to make sure we're showing a balanced view of everything that's happening in the world."
Dorsey teased a new layout for the mobile app that will finally highlight what live video is currently being streamed on the app during the shareholders meeting.
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But Twitter shareholders want more. One proposal—that was not passed during the voting at the meeting—was for Twitter to be run as cooperative.
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Other Twitter shareholders just want more out of Twitter, and some do not believe that the current leadership is able to step up.
Twitter needs "effective advertising (better ads and better targeting), curated subscribe-able user lists by topic, full-time CEO, board that functions, sense of urgency, better search functionality (deal with Google is a bad one)," the anonymous shareholder wrote to me.
And yet, Dorsey keeps going, expressing thanks. "First I would like to express a lot of gratitude for all of your support," Dorsey said to start the meeting.
Dorsey closed the meeting with a look ahead. "We are extremely proud of the progress that we've made in the last year," Dorsey said. "More work ahead. We're excited about the opportunities in front of us."
Twitter stock was just about unchanged when the meeting closed.
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