All posts tagged: Dorseys

Block introduces Managerbot, a proactive Square AI agent and the clearest proof point yet for Jack Dorsey’s AI bet

Block introduces Managerbot, a proactive Square AI agent and the clearest proof point yet for Jack Dorsey’s AI bet

Published by skeptic

Block today unveiled Managerbot, a new AI agent embedded in the Square platform that proactively monitors a seller’s business, identifies emerging problems, and proposes actionable solutions — without the seller ever having to ask a question. The product marks the most tangible manifestation of CEO Jack Dorsey’s controversial bet that artificial intelligence can fundamentally reshape how his company operates, builds products, and serves the millions of small businesses that depend on Square to run day-to-day commerce. In an exclusive interview with VentureBeat, Willem Avé, Block’s head of product at Square, described Managerbot as a decisive break from the company’s earlier Square AI assistant, which functioned as a reactive chatbot that answered seller questions about sales, employees, and business performance. “The big shift from Square AI to Managerbot is really from reactive to proactive,” Avé said. “What that means is the primary interface is not a question box. You assign tasks to Managerbot, and that could be based on data, an insight, or a signal from your business.” The product is beginning to roll out now, …

Jack Dorsey’s Block cuts 40% of staff, 4,000+ people — and yes, it’s because of AI efficiencies

Jack Dorsey’s Block cuts 40% of staff, 4,000+ people — and yes, it’s because of AI efficiencies

Published by skeptic

Former Twitter co-founder Jack Dorsey’s new company Block — the parent of merchants payment system Square, mobile peer-to-peer payments Cash App, music streamer Tidal, and open source AI agentic system Goose — is sending shockwaves across the business world tonight after announcing a more than 40% headcount, cutting its workforce by more than 4,000 people out of a prior total of 10,000, despite its latest quarterly earnings statement released today showing $2.87 billion in gross profit up 24% year-over-year. The culprit? Newfound AI efficiencies. As Dorsey put it in a note shared on his own former social network, X: “we’re not making this decision because we’re in trouble. our business is strong. gross profit continues to grow, we continue to serve more and more customers, and profitability is improving. but something has changed. we’re already seeing that the intelligence tools we’re creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company. and that’s accelerating rapidly. i had …

Jack Dorsey’s New Company Falling Apart as It Forces Employees to Use AI

Jack Dorsey’s New Company Falling Apart as It Forces Employees to Use AI

Published by José Betancourt

MARCO BELLO/AFP via Getty Images Twitter founder Jack Dorsey is running into some serious issues while overhauling his financial services company, Block. Earlier this month, the company started laying off its staff as part of what Bloomberg characterized as an “efficiency push,” potentially affecting up to ten percent of the company’s workforce. It’s been a painful, drawn-out process that could drag on for weeks, sources told Wired, triggering major anxiety over job security. “We don’t yet know if our livelihoods will be affected, and this makes it incredibly hard to make major life choices without knowing if we still have a job next week,” an employee said during a recent all-hands meeting, as quoted by Wired. “Morale is probably the worst I’ve felt in four years,” another employee wrote. “The overarching culture at Block is crumbling.” The comments highlight persistent concerns being felt by many workers as generative AI continues to be cited by executives as they cut headcounts. For Dorsey, AI has clearly been top of mind. Block staffers are now obligated to use …

Inside the Rolling Layoffs at Jack Dorsey’s Block

Inside the Rolling Layoffs at Jack Dorsey’s Block

Published by skeptic

After hundreds of workers were laid off in early February from Jack Dorsey’s Block, some of the people remaining at the company say the internal culture has devolved to a point where performance anxiety is running rampant, using generative AI is required, and overall morale is rapidly deteriorating. Block is the parent company behind the merchant payment processor Square and the payment app Cash App. Dorsey cofounded the company in 2009 after previously cofounding Twitter. “Morale is probably the worst I’ve felt in four years,” reads an employee complaint submitted to Dorsey in a recent all-hands meeting, a transcript of which was seen by WIRED. “The overarching culture at Block is crumbling.” WIRED spoke with seven current and former Block employees, who requested anonymity to speak freely about internal operations at the company. A Block spokesperson did not respond to requests for comment. The layoffs at Block started this month and could eventually impact up to 10 percent of the company’s workforce, according to reporting by Bloomberg. Before the headcount reductions began, Block had around …