Is @dickc Losing His Job in Real-Time on Twitter (TWTR)?
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Twitter (NYSE: TWTR) has proven to be a powerful tool that has helped create a real-time world of news, entertainment and the conversation around those topics. Now that same world could contribute to the downfall of the most powerful executive at the company - CEO Dick Costolo.
First it was entrepreneur and PayPal co-founder Peter Thiel calling Costolo a 'stoner'. Next it was market pundit Jim Cramer disparaging him on CNBC and Twitter and calling for his head. Now there is a brutal Wall Street Journal article referencing Costolo and his 'three circles'.
The Journal article highlights investors' and employees' growing uneasiness with Costolo and his questionable management style. It quotes Walter Price, a senior portfolio manager of Allianz Global’s Technology Fund, as saying: "I'm just very frustrated. It’s like this tension within the company in terms of what they want to be and how they want to do things. It hasn't been resolved." Also a number of large funds, including Bill Miller's Legg Mason Opportunity Fund, have sold stock recently amid the concern.
The conversation on the fate on Cotsolo is in full flux on Twitter and because of the power of the social media site it may not slow down. With each tweet the rope around Costolo's neck is getting tighter.
As the famous phrase goes "you live by the sword, you die by the sword."
Farewell @dickc. It was fun while it lasted.
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