About Jack Dorsey
Jack Dorsey discussed Block's Q1 2025 financial results, projecting gross profit growth of 12% for the year and an acceleration to low double digits in the third quarter. He noted that Square is gaining market share following consolidation efforts and that the company received FDIC approval to use Square Financial Services for nationwide consumer loans through Cash App Borrow, which he said roughly doubles the number of actives eligible for the product and improves unit economics. Dorsey also highlighted the integration of Afterpay products into Cash App, describing it as a "meaningful unlock" that exposes buy-now-pay-later products to 57 million monthly actives.
At The Bitcoin Conference 2026, Dorsey appeared with filmmaker Eugene Jarecki to support the documentary "The Six Billion Dollar Man" about Julian Assange. Dorsey described Bitcoin as "an open protocol for money transfers" that routes around gatekeepers such as Visa, Mastercard, and banks. He also argued that traditional corporate hierarchy is obsolete, saying that companies can operate as "mini AGI" by placing an artificial intelligence "intelligence layer" at the center of the organization. Dorsey stated that after experimenting with AI tools in late 2024, Block's leadership uniformly agreed that if they were to rebuild the company from scratch, it would not be the same size or structure.
Source: AI-verified profile updated from Jack Dorsey's recent appearances.
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✨ AI-enhanced transcript with speaker attribution
J
Jack Dorsey0:02
How did that come about?
It came about because my co-founder is a glass artist and he sells these beautiful glass faucets. He was selling one for $2,000, and all he had in his pocket was his mobile phone. He couldn't accept the credit card from the woman who wanted to buy this faucet, and she didn't have a checkbook and obviously didn't have $2,000 in cash, so he lost the sale. We were discussing this, and we have these general-purpose computers next to our ears—that would be an iPhone 4 or something, an Android phone, or a Blackberry—but yet he wasn't able to accept that credit card. So we wondered why that was, and we answered it by building this system.
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Interviewer0:43
You write code?
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Jack Dorsey0:47
Yes, yes, I code.
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Interviewer0:49
And that's what you do, and that's what you've been recognized for since you were 14 or 15 years old. So you immediately set out to do what?
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Jack Dorsey0:56
My goal is to simplify complexity. I just want to build stuff that really simplifies our basic human interaction. Twitter was around communication and visualizing what was happening in the world in real time. Square was allowing everyone to accept the form of payment that people have in their pocket today, which is a credit card. So we built the simplest way to accept credit cards. It's just this little tiny device that we give away for free, and you just download some software from the App Store, plug it into your mobile phone or your iPad, and suddenly you can take credit cards. So if you're a tax accountant, a lawyer, a doctor, or even a hair stylist, you can now accept credit cards.
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Interviewer1:42
And you monetize this how?
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Jack Dorsey1:44
We take a cut of every transaction. So we charge 2.75% and 15 cents on the transaction, which we then pay the credit card companies out of. So the user only has to pay that 2.75%. They don't pay any credit card fees, they don't have to have a setup charge, they don't have to pay for the hardware or even the software. All the software is free, hardware is free. You just use the phone that you have in your pocket.
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Interviewer2:08
Okay, so this sounds to me like a win-win for everybody. Small businesses like it?
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Jack Dorsey2:12
Yes, yes, they love it. Somebody who has a credit card and wants to pay with a credit card likes it. You can pay everywhere now.
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Interviewer2:19
So you who created this with your partner, it seems so fundamental. Why hadn't someone done that before?
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Jack Dorsey2:27
It turns out it's really complex. It's really complex to make something simple, especially when you start addressing the financial world. We have a number of things: in order to accept credit cards, you have to talk with a bank. Normally when you're a small merchant or a business or an individual, you have to get a merchant account, which means you have a one-to-two relationship with a bank, and then there's all these fees and setup costs and monthly minimums. It's just a mess, and it's never really been designed in a beautiful way. That's what we're really good at, and that's really hard to do.
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Interviewer3:04
How do you minimize fraud, because that would be a concern, right?
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Jack Dorsey3:07
We actually have a lot of benefit in using the credit card system itself, because a lot of the protections are on the payer side. When someone issues you a credit card, your bank assumes that card is going to be lost or stolen, so all the protections are watching the payers. If we get a swipe or a signature on those card payments, then a lot of the risk is off us because we know the payer was in that location. Apart from that, there's a lot of information in these phones—there's GPS, we know where the transactions are taking place. People are putting in their Twitter accounts, their Facebook accounts, they're telling us about themselves, and we can use that to build a reputation for how they will interact in the world.
