biz dorsey, evan williams, glass.nd noah it has been a bumpy ride, to say the least. this is the story of your average silicon valley startup. they were desperate for a new multibillion-dollar idea. jack dorsey had the idea of a way of communicating what you are up to. you can see from his original one page blueprints that it was a simple idea. yocan see that he was still a student when he came up with this idea. the only status options he provided were in bed or at the park. >> they wanted to build a technology that would connect them to their friends. to do that, they ended up tearing their own friendships apart. from the moment twitter was hatched, it became this thing that started to change the world. off with the rest of the world. each one of the four friends in it up pushing each other out of the company one by one. >> noah was the obvious candidate to become ceo. he was forced out in 2006. jack was forced out in 2008. shunted to a non-job and stop coming into the office. the price tag is somewhere around $15 billion. the model does not guarantee sustainable re

evan williams share is worth $2.6 billion and jack dorsey closed out at at least a billion. the executives have to wait 180 days to cash out. >>> president obama is now apologizing to americans who have lost their healthcare due to the affordable care act. tara mergener has more. >> reporter: for years, the president has promised again and again that no one would be forced off an insurance plan they want to keep because of his healthcare law, but more than 3 million americans have gotten cancellation letters. yesterday, the president apologized during an interview with nbc news. >> i am sorry that they, you know, are finding themselves in this situation based on assurances they got from me. we've got to work hard to make sure that they know we hear them and that we're going to do everything we can to deal with folks who find themselves in a tough position as a consequence of this. >> reporter: insurance policies that fall short of a new healthcare law standard are no longer valid. the president says his administration is looking at a range of options to help people whose ins

you had evan williams who believed that it was about sharing the news and what was happening around youaos between the two of them and pushing each other out of the company is the chaos to what twitter became. >> lots of users, billions of tweets, fair amount of revenue now, but no profits. why has it taken this company so much longer than it took facebook to turn a profit and whose owes to blame for that? >> if they wanted to be profitable they could be profitable today. stop hiring new employees, they're at 2,000 employees now, pulling a 600 million in revenue, over a billion next year, and i think that they're also buying a lot of companies and doing this to try to compete with facebook. and so they wanted to be profitable they easily could be. i think if you look at -- this is the whole story, the book -- >> much less adroit at the advertising game, wouldn't you say sp. >> absolutely. this is the thesis of the book, is this thing literally started as a little tiny project and next thing you know it's being used by everyone, revolutions and businesses, oprah, cnn, everybody is using

the meter started running at $1.5 billion for evan williams.he fort turns -- fortunes rising at that level. dick cost toll low started at 180 million bucks. that number is. number of happy workers going out of twitter. not offering in the way of color for us in person but taking to twitter, what else. tweeting out pictures of big party they had with giant screens watching new york stock exchange opening. stock exchange ringing the opening bell. early trades down there, watching the crowd down on the post on the floor where nicole was this morning reporting for us. a lot of hustle and bustle. a lot of happy folks wearing those bluebird t-shirts today. tracy: robert, stay with us. our twitter question just to reiterate, at what price will twitter shares close today and where will they be six months from now? if you know the answers let me know i will quit my job right now. tweet us and let us know. your answers will be on the screen throughout the hour. we'll take that question to rick who is still with us right now. what happens to this stock at

dorsey teamed up with evan williams and biz stone, and twitter was born.rch 2006, dorsey wrote the first tweet. >> we loved it, and we kept building it, because we wanted to see other people use it. >> reporter: a self-described loner, he mate the world a lot more connected. >> it's definitely humbling. >> reporter: he's been compared to steve jobs. >> we are calling it iphone. >> reporter: and like jobs, he was booted from the company he helped found back in 2008. but don't feel too bad for dorsey. he launched another successful start-up, square. >> twitter is focused around communication. this is around commerce. i think they're both fundamental to humanity. >> reporter: square lets any business accept credit cards through a square card reader that attached to smartphones. revolutionary for small businesses. >> it will go into the international company. >> reporter: today, he juggles two blooming brands. he stands to make $469 million from his 5% stake in twitter when it goes public. as for square, it processes $15 billion a transaction each year from th

evan williams' stock is worth $2.6 billion and jack dorsey closed out at more than $1 billion. the executives have to wait at least 180 days before they can cash out. >> nice. >>> tesla shares fell after a third model s caught fire this time in tennessee. wednesday's fire melted the front of the car you see here. tesla says the fire started after the car ran over a tow hitch. the company is now sending a team to tennessee to investigate. >>> two other model s cars have burst into flames in the past five weeks including this one near seattle after the driver ran over a piece of metal that apparently punctured the battery underneath. and this one is down in mexico after police say a drunk driver crashed into a concrete wall and a tree. shares of the palo alto-based carmaker fell over 7% yesterday to 140 bucks. that's on top of wednesday's plunge of some 14.5%. despite the drops, the shares are up 312% for the year. >>> 5:40. animal dna used to solve violent crimes in northern california. the new technique putting murderers behind bars. >> and a stunning reversal on plans to make

>> reporter: the two biggest winners were the company's founders, evan williams, whose stock is worth $2.6 billion, and jack dorsey. his shares are worth more than a billion. executives at twitter will have to wait 180 days before they can cash out. some analysts are urging caution about investing in twitter. scott, they point out, tech stocks often give up some gains in the weeks after their debut. >> pelley: elaine, thank you. a good day for twitter, and we learned today the u.s. economy had a good summer. the economy grew 2.8% from july through september. that was better than expected. thanks in part to americans buying more cars. the economy grew by 2.5% between april and june. today's good news got investors worried, though, that the fed might roll back its stimulus programs so the dow dropped 152 points to close at 15,593. today, a historic anti-discrimination bill passed the u.s. senate. 10 republicans joined the democratic majority to outlaw workplace bias against gays and lesbians. supporters said it would allow workers to love whom they chose without the threat of being fire

and cofounder evan williams will hold shares worth $1.5 billion. stay with us if continuing coverage on the twitter i.p.o. with updates throughout the day. let us know what you think at facebook.com/abc7 news. bart managers face tough questions of safety issues. state lawmakers called an investigative hearing in san francisco following the deaths of two bart workers during the strike last month. to were working on the tracks when they were hit and killed by a train. we stay with abc7 news next half hour when katie marzullo will tell us the big tinge that the state lawmakers are expected to demand of bart at the hearing. >> officials say it will take a month longer than expected to complete the permanent fix for the giant steel bolts that snapped on the new eastern span. our media participate, the "contra costa times" reports the $23 million custom saddles are operational by january 8. officials hoped to be done by december 10th but they say fabrication was complex and took locker than expected. the span that opened labor day will remain if place un

jack dorsey will have $609 million in twitter stock and the cofounder evan williams will hold sharesorth $1.5 billion. are you going to get in on twitter i.p.o.? is it a good invest million? join the conscious on our facebook page. >> this morning, san jose four fighter is recovering from burns he suffered in a house fire and explosion. an older-style victorian home caught fire near west virginia street. the firefighter was engulfed in flames after a blast in the basement and suffered minor burns. the fire is suspicious. the house was under renovation and squatters were living this. >> bart managers will face tough questions about safety issues with a hearing being called after the deaths of two bart workers during the strike last month. christopher shepard and larry daniels worked on the tracks and were hit and killed by a train in walnut creek. a similar incident happened in 2008. the national transportation safety board is cutting their own investigation and abc7 news reporter will have more on the hearings at 5:30. >> officials say it will take a positive longer than expected to

co-founder, evan williams could now be worth between $1.3, to $1.4 billion. ceo could be $191.9 million. and a board member's stake could be as much as $789 million. >> it's a stupid, it's just crap. >> no longer the butt of the joke. investors will now see if shares of twitter will soar. lori siegel, cnn money, new york. >> and starbucks wants 10,000 new employees, they are actively now recruiting from a very specific talent pool. we're talking about the u.s. military veterans, as well as their spouses. the world's biggest chain of coffee houses is the latest major company to announce a push to hire former service members. the starbucks ceo also plans and shows plans to open more cafes near military bases and former defense secretary, robert gates is now on the starbucks board of directors. >>> marvel comics as headachen the wraps off the latest crime fighter. meet superhero kmala khan, a 16-year-old muslim living in new jersey, her power is she's able to grow and shrink. and is learning to shape-shift. pretty cool. >>> and smoking, hair salons, cameras are

at the closing price, the 10% stake in twitter held by co-founder evan williams is now worth $2.5 billion. partner, jack dorsey's share, is worth more than $1 billion. although twitter executives, keep in mind, cannot sell their stock for six months. dorsey, by the way, is also the founder of square. that's the credit card payment company that is primed to go public next year. the company's credit card readers for smartphones and tablets are widely used at starbucks and by small businesses like taxis and food trucks. you've probably seen them. square's headquarters are a block away from twitter's, and like twitter, square has yet to turn a profit. >> but not everyone is cheering twitter's success. several protests took place today in front of the company's mid market street headquarters. they were organized by affordable housing advocates who believe twitter is making things too expensive for working class residents to live in. they criticize the decision to give twitter a tax break to move into the old jewelry mart building. >> what are you doing for san francisco? you're making money he

it was hard to imagine the successful dorsey teamed with noah glass, evan williams and christopher stone what it is tonight. a site that generates 500 million tweets a day in more than 35 languages. >> twitter started as an accident. it was an idea to be able to share what you are doing, to connect with friends. >> how did twitter go from being a fun thing for four friends, an accident, into something so powerful? well, twitter has done thing like this. providing the first images of the u.s. airways emergency landing in the hudson river. and giving the world real-time updates from a closed country showing thousands demonstrating in the streets of tehran. the instantaneous nature of twitter is a double edged sword. a bogus tweet sent the dow plunging 145 points earlier this year. and the power of the tweet is strong enough to ruin a career. but success is about growing and making money. and twitter so far has fail to turn a profit. >> we have a situation where investors are paying for profits that they hope will come in the future. >> is it too soon to down twitter as a failure on making

evan williams' stock is worth $2.6 billion and jack dorsey on the right closed out at more than $1 billion. the executives have to wait though 180 days before they can cash out their stock. >>> time now 5:10. coming up, chris christie's re- election win lands him on the cover of "time" magazine and that cover has landed "time" magazine in hot water. >> san jose state does an about- face on its budget cuts. how the university plans to save spring semester classes. plus -- >> most boy scout eagle candidates don't build something like this. >> what a local scout is doing to help keep bay area skies safe. cold & flu season is back so before the first sneeze help protect with a spray before the first tissue help defend with a wipe. and help prevent with lysol to get 10x more protection with each hand wash and kill 99.9% of germs around the house. this season, go beyond cleaning to help protect your family with lysol. start healthing. the newly re- elected goverr chris christie of new jerset calls him "the elephant in e >>> eye "time" magazine cover features the newly re-elected governor chris c

we know "who made money today", cofounders evan williams and jack dorsey and chief executive, dick costtollo. liz: their own pr people acting like police on the floor of the new york stock exchange removeing a fox business producer because they're scared of charlie gasparino. adam: mark zuckerberg could buy all three of them. liz: mobli has more participants. adam: 260 million from the investment from carlos slim. america movile. 260 million potential customers. the way we communicate, if you do 34 -- 140 characters is it go to the instagram model? youngsters do it by pictures. instagram will face competition from mobli. liz: young whippersnappers. number two thing to watch tomorrow, twitter. off the highs of the session as you can see. we'll see how the social networking site does oo its second day of trade. adam: the number one thing to watch tomorrow will be the october jobs report. economists are expecting non-farm payrolls to rise by 125,000, down from september's readings 148,000. the unemployment rate is expected to climb by .1 of a percent to 7.3%. liz: the markets close at 5:00

at the closing price, the 10% stake in twitter held by co-founder evan williams is now worth $2.5 billion. partner, jack dorsey's share, is worth more than $1 billion. although twitter executives, keep in mind, cannot sell their stock for six months. dorsey, by the way, is also the founder of square. that's the credit card payment company that is primed to go public next year. the company's credit card readers for smartphones and tablets are widely used at starbucks and by small businesses like taxis and food trucks. you've probably seen them. square's headquarters are a block away from twitter's, and like twitter, square has yet to turn a profit. >> but not everyone is cheering twitter's success. several protests took place today in front of the company's mid market street headquarters. they were organized by affordable housing advocates who believe twitter is making things too expensive for working class residents to live in. they criticize the decision to give twitter a tax break to move into the old jewelry mart building. >> what are you doing for san francisco? you're making money he

but it still made several people like the chairman jack dorsey and the co-founder evan williams overnightillionaires, so whatever the price is doing today, i guess they're laughing all the way to the bank. >> is there any unanimity of opinion on wall street about where this is going next, or is it cautious? >> i think there is a fair amount of cautiousness there because you know what, as i was saying, it doesn't make money. there's revenue but it's not actually profit al. i think what a lot of people are saying is that hopefully the pricing will contribute at least to a more stable performance than facebook had. remember that twitter decided to price its ipo at $26, which is a relatively conservative figure. the underwriters decided to price the deal at that lower point because it leaves larger room for a larger first day pop rather than follow in the footsteps of facebook when which priced it at $38 and the underwriters had to keep the shares from dipping below the price and it took over a year for the stock to recover. so we are hoping that they have learned from facebook's ipo mistakes

the story is, you know, there's these four founders, these guys that came from all over america, evan williams grew up in a farm in nebraska, like a town of 250, 260 people. biz stone grew up on welfare. noah glass was born in a commune. they all went to san francisco to silicon valley in search of what we call the modern day dream, tech money, and they came together and were four very close friends, and they accidentally built twitter, and as a result, completely tore their friendship as part. some of them ended up as billionaires as we saw today and some of them ended up with actually next to nothing. >> what you write and capture really well in the book is one of the things, is the frustration that ev williams in particular felt about jack dorsey talking to the press, making it sound as if he was the sole inventor of twitter. i interviewed dorsey back in march. here's what he told me about the start of twitter. >> i moved here in 2000, i realized i had this beautiful picture of the city, i could see like these swarms to the met when there was a show in taxi cabs, where i could see emergenci

evan williams worth other $2.5 billion and the crow has a $345 million stake in the company. >> giveou perspective on that. they got close to 30 billion, the same value of kraft foods. it is just stunning. this company now turned a profit and has the eyeballs. i think we are going to watch it drop in the near term. now it's a question of what to do with that pile of cash. >> unbelievable. >>> we are going to move on now to president obama. this is obviously, i think, probably what should have gone first, but i was happy to do the toronto mayor. this is rough. president obama says he is sorry for promising americans if they like their insurance plan, they would be able to keep their coverage under the affordable care act. he sat down yesterday with nbcs chuck todd. >> i meant what i said and we worked hard to try to make sure we implemented it properly. obviously, we didn't do a good enough job and i regret that. >> do you feel like you owe them an apology? they feel misled. you have seen the anger out there. >> i regret, very much, that what we intended to do, which was to make sure

some guys were pretty happy right now have to be the cofounders and chief executive officer evan williamsos and cofounder worth $1.5 billion at the open. $26 per share. so he is doing quite well now. jack dorsey another ceo, one of the other cofounders up 20% as well. current chief executive officer doing pretty well himself. not doing too poorly after the big pop at the open. certainly holding onto some of those gains right now. definitely a lot going on behind us. appeared to be some sort of a large party set up here around the open time. nobody going in or out of the building around the time the stock began trading so everybody must have been waiting to see what was going to happen at the open. certainly the three gentlemen we showed you can't be too disappointed with the results at the moment. dennis: they're going to party like it is 1999. stick around for more. bring in the devils advocatt group, cofounder and gfi group director of trading. john, let's start with you. technically, do you like how the trading is going this morning? in the stock opened at 26 but now up $20, does it me

a couple of men behind twitter, jack dorsey, evan williams. williams has the largest stake in the company. it could be worth about $2 billion by the end of the day, at least on paper. we'll continue to watch the stock. twitter has amassed about 230 million users since inception. new earsers are still going up -- users are still going up. we're watching for the stock to start trading. it could happen in the next half-hour or so. we'll let you know when that happens. pam cook, ktvu channel 2 news. >> thank you. >>> you may have been surprised by some of the people at twitter's opening bell. as you can see here, on the far right, patrick stewart and the little girl, vivian. she's the marin county girl who gained worldwide recognition for setting up a lemonade stand with the proceeds going towards fighting slavery. >>> 7:38. the chp investigating last night's crash in oakland that killed a woman and injured her twin sister and a 3-year-old child. it happened at 7:30 on eastbound 5le 0 near the keller avenue exit. the car veered off the freeway, sm

evan williams is the largest individual shareholder with 10% of twitter posts ipo.e was ceo of twitter until he was ousted by the company's board in 2010, replaced by dick costlo, who was brought in as coo the prior year. williams co-founded the obvious corporation, an incubator for web media companies. along with the former chief creative director stone who was pushed out at the same time as williams. latched last year, medium offering an alternative to twitter's character limitations. united states designed for easily sharing longer form content. stone and williams's corporation backs a totally different start up. beyond meat. stone recently announced his solo venture, a start up in stealtm mode called jelly only to reveal it's part of mobile. noah glass left soon after the company launched after a falling out of his cofounders. his twitter profile says i started this, but he doesn't tweet very often. his linkedin profile says he founded codeo. we've reached out to him via social media but have not heard back. unlike williams and stone who are featured in one of t

evan williams was ceo until he was ousted in 2010, replaced by dick costolo.ms. a publishing platform called medium is designed for easily sharing longer form content. now, stone and williams obvious corporation also backs a different kind of startup, beyond meat, which produces vegan meat alternatives. they announc now, the co-founder who is furthest from twitter's nest is noah glass. he left soon after the company launched after a falling out with his co-founders. his linkedin profile said he co-founded odo where they hatched twitter. we reached out to noah glass but haven't heard back. glass has been nearly written out of twitter's history. simon? >> just two days to go, julia. julia boorstin with what we know about twitter. we want to talk more about how twitter is changing the educational landscape. our guests, gentlemen, good morning. welcome to the network. >> good morning. thank you for having us. >> what's interesting here, it's not just what you're teaching, it's the way in which you're teaching using twitter. let me come to you, first of all. you ac

sounds like dick got in there and he's got his own issues, sounds like evan williams has his own issuessn't sound like a particularly brilliantly managed operation. >> i think it's certainly had its creation challenges, these things are like a journey, marriages, sort of ebb and flow. i think the management team is strong. he's widely regarded by the community as one of the best sales leaders out there. dick is viewed as a person who is managing the company excellent, has a good handle on product. i think it's definitely a stabilized company right now. when you and i were on -- >> much better than facebook. >> i said 10 to 20 and you said, well, it's trading at 16 in the private markets. they try to do 13, the market pushed them to 16. they have a very small float. it strikes me they're doing a pretty good job with this. >> rocco, is it a good job if they take $26 and the stock doesn't move? how do we measure success today or either both today and let's say over the next 12 months? >> well, if you're jack dorsey or one of the people able to get the stock at the offering price and cash o

finally, we will hear from william in evan still, iowa. democratic line. what is the topic for you?aller: health care. marsha blackburn was on tv talking about kathleen sebelius. to makehey decide not changes? are you going to answer the question? caller: what question? host: the question you just asked. caller: i just think that the republicans are ridiculous. i want to say one more thing. you do not do the news right. --t gingrich did something al gore had to go through this. republicans did nothing then either. they sit on their hands and do nothing. host: that is william in iowa. thank you for calling in. here's the front page of bloomberg businessweek magazine. crashed. one year and one epic fail into his second term. obama needs to reboot. that is the cover story for bloomberg. how the ipod president crashed. his advisers talked of their belief that it was time for an ipod government. obama is a technology addict. he checks his ipad before going to sleep. he fought the u.s. secret service bureaucracy for the right. smartphone. he is the first president truly at home in the dig

william ystal. >> jimmy: i ve him. plus, shis a very, very busy actress. she is starring inwo new movies. harlie countryman" and "a case of you." one actress, two movs, three names. evanon the show tonight. [ cheers and alause ] and that's not all we got some good mus. >> ste: what? >> jimmy: i'm talkinabout ch lloyd is here! [ cheers and applause ] feuring skee-lo! it's going to be f tonight! >> steve: calm it down. >> jimmy: ca it down. evyone just has to calm down. >>teve: simmer down now! simmer down! you gotta calm dow dudes! dude, you gotta calm it! >> jimmy: calm down, man! >> steve: woo! [ cheers ] >> jimmy: you n't calm them down! [ cheers ] >> steve: this is nuts. it's nuts in here. >> jimmy: 's nuts in here. >> steve: nuts in he, too. >> jimmy: thank you. hey, do you guys ever wonder what celebritiesre whispering to each onhen they're on the red carpet or at a press conference? they're alys like, whispering stuff to each other? we have, t. and that's why we sent our entertainment corresndent from the , mr. peggy hess, with his ghly sensitive microones to get to the bottom of it. that's right. it is time for "cebrity whispers." ♪ >> jimmy: hello. i'm peggy h

evans from citi is saying he is expecting the forecast for colder temperatures to keep the supply declining continuing. >> thank you so much. let's get a quick market flash here. >> how about williamsoking up gains after announcing profits jumped 16% in the third quarter. the kitchen ware and home goods retailer say customers spent more. investors are putting a lot of bullishness into the wsm shares. back to you. >> and as a contrast you look at some of the losers on the s&p today, dollar tree, dollar general close to the list a little while ago. increasingly looking like the low end consumer getting squeezed to some degree despite lower gas prices. >> and meaning those who are most aggressive in trying to discount are being rewarded by investors right now. interesting, as well, going into thanksgiving week which will be so promotional we are seeing retailers pull out the stops. to what extent will those who refuse to play entirely be rewarded? the dillards of the world that don't open on thanksgiving, home depot, costco. >> there are six less days between thanksgiving and christmas this year than in a normal year. >> is it worth cracking on thanksgiving day just because there are