Block ft. Jack Dorsey - A controversial hack week project becomes the #1 financial services app

CEO Jack Dorsey’s ultimate vision for Block was always about economic empowerment for all. Initially called Square, the company’s first product—the white dongle that let small businesses turn an iPhone into a credit card reader—was just a first step. So when a hack week project called Cash App that let anyone send money for free started gaining traction, Dorsey wanted to support it. It was easier said than done. It seemed like a strategic departure and it was costing lots of time and money. “Everyone wanted to kill it,” Dorsey says. Today, Cash App accounts for half the company’s revenue. In this episode, Dorsey explains how the company navigated this strategic shift, and how companies can succeed by weaving successive products and experiences around a singular, core vision. Jack Dorsey Jack Dorsey is the head of, chairman, and cofounder of Block (formerly Square). Prior to Block, Jack Dorsey founded Twitter and served as the company’s CEO. Brian Grassadonia Brian Grassadonia is the executive VP & general manager of Block’s Cash App. Alyssa Henry Alyssa Henry is the CEO of the Square business at Block. Outside of Block, Alyssa sits on the board of directors of Confluent.