Interesting developments – LeWeb & Twitter CEO Jack Dorsey

Ever since we heard that Twitter CEO, Jack Dorsey was going to be at LeWeb, we have been following him on Twitter. Jack Dorsey has been tweeting all day about his experience of being in Paris. The LeWeb conference opened up with Jack Dorsey as the first speaker. Dorsey is also the co-founder and CEO of the new credit card payment device Square. He gave a demo of his Square device at the conference in front of 2000 live (people present at the conference hall) and 3000+ internet viewers. Dorsey said that he will give the Square devices for free at the event. Interesting developments have taken place since this morning and Dorsey is tweeting live at the moment. About 35mins ago he tweeted that he had a LeWeb id stolen.

He also retweeted about a picture of him taken by RFI Pres, Atelier des medias.

Dorsey has been doing some photography of his own and has captured some beautiful pictures of Paris. He shares these photos with his Twitter followers on Yfrog.

Dorsey’s photograph of Eiffel Tower on Yfrog

Before going live on the stage, Dorsey photographed the LeWeb studio and shared it with his followers too.

Dorsey’s photograph of the LeWeb studio

During his interview at LeWeb with Loïc Le Meur, Dorsey talked about his experience of starting Square. DigitalBeat has recorded his answer:

‘As we were talking about Twitter — there are three concepts that emerged from it: Immediacy, Approachability and Transparency. Twitter does a great job at bringing these to the world. There are two other industries which are in dire need of this, which are health care and finance. There’s so much contentiousness around health care right now. It’ll probably be two years before we can build anything in that.

But the financial world is amazing right now because there’s a clean slate. A lot of these industries are looking for something very small and innovative. We looked at the field. My co-founder is a glass artist. He sells things that people don’t need — $2,000 glass faucets. They’re beautiful. If he could not take credit cards, he wouldn’t make the sale because no one carries around $2,000 in the cash.

So we looked at it. Ninety percent of the U.S. has moved to credit cards, but it’s still very difficult to accept them.

We’re starting with the iPhone and the iPod Touch. We’re calling it Square. You can take credit cards. I can take a picture of what I’m selling and who I’m selling it to. I can put in $3 here, take a picture of what I’m selling and start typing in the credit card number.

The second friction point of credit cards is entering in the card number. We looked at taking a picture of credit card and doing optical character recognition. The other thing we looked at the audio jack — and it’s on Macbooks, desktop PCs, Blackberries and Androids. We built this hardware. It’s a self-powered swiper. Powered by the magnetic power of the swipe itself, converts it to an audio signal, which the software interprets. So now I have the credit card swiper.’

His Credit Card Swiper or Square is going to change the way SMEs interact with their customers. I was at a local cafe  the other day and had to wait in a long que to pay for my coffee. I wished that the cafe owner had the Square device. If he did it would have made the whole process so much more faster and easier and I could have the receipt emailed to me – saving paper. We also found a demo of Square on youtube which shows the device being used by Dorsey – so check out the video below:

Written for and published on the amvona blog

  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: