mr. dorsey right now? think this is what he would be telling him, we need adults in the room, you need to hire a sheryl sandberg type to come in and right the ship. and if this business model doesn't work, you need to sell it. create a destruction. it's happened all the way back since netscape. melissa: yeah. >> twitter may be better as part of something else, but this was a long time coming. everybody saw it. it was a slow burn, and it's a much-needed change. melissa: i'm sorry, i couldn't understand -- >> including fox business a while back, keeping us out of his ipo coverage. melissa: another complicating factor though, jack dorsey is currently the ceo of square, that little payment system that goes into your iphone or -- >> right. it's not a conflict. melissa: you think he can do both jobs at once? >> yeah, you know, it's like -- yes, yes. i think, and he's going to be interim. like i said, the call now should be in to jamie, jamie dimon. because i know jack dorsey and her very close. what are you reco

mr. dorsey and able to under take a broad ranging search for a full-time successor to mr. costolo who again fact said it's time for him to go. >> yeah, i mean, people and investor haves been calling for his head, david, for quite sometime so it is easy to imagine that he is, in fact, tired at this point. you mentioned before he communicated intentions to the board earlier this year, does that imply that the board actually wanted him to stay on? >> my understanding is that he at least made it clear he was thinking about a departure and mentioned that to the board. i don't believe he made it clear to step down until more recently, and so i do believe, you do wonder whether the board might have been able to perhaps get a beat on this and get a little bit more out ahead of it but clearly, they were, they were at least warned that it might be a possibility. again, based on the conversations i've had with people familiar with the series of events that took place, melissa. >> what's your take on whether or not this opens the door to some sort of accusation with twitter? >> you se

mr. dorsey. >> he's probably talking to bankers today about square. it was probably easier for him to just focus on square for a couple of days rather than -- this thing was ridiculous. >> on a broader level, stocks moving higher around the globe on hopes that greece and the creditors can strike a debt deal. the greeks are said to have made some concessions regarding lender's demands for tax increases and pension reform. there's an emergency meeting today. the meeting is wrapping up now. most of the headlines are things like we still have days to come. don't have anything in hand. expectations low. if we get something, is it all clear? is it like bye bye bye? >> i think as soon as you see this, you'll have people who do nothing except talk about the fed come out and say the july meeting they're going to issue a statement. this is what i think the fed was most concerned about. i think a lot of what's driving this is this who lost greece. the more i read about this i think this was the president saying we have enough problems in russia. we do not want g

mr. dorsey and twitter.rilled to have brad stone with us and exclusive to "bloomberg surveillance" this morning. this is really important. the work is from ab bernstein. rule one of investment strategy is beware of extrapolating into the future, a strip will simple extrapolation, a complex fundamental effort. have respect for the on for seen. seth masters is the chief investment officer at ab bernstein. we are going to dangerously extrapolate the dow 20,000. we had 4, 5, 6 wonderful years. your research says not so much that it is over but that it is unlikely to continue. seth: i think that is exactly right. we have been discussing the same topic three or four years ago. the dow was around 12,000, and we did not know if we could envision 20,000 for the foreseeable future. it is likely to happen well with the decade. at this point, to me, the question in the next few years is do we hit 20,000, it is how many times do we train through it? tom: exactly. this chart shows what we did at 10,000 as well. we bumped

mr. dorsey wish to take on the ceo role i would support him.s wrong. >> take a look at this video. quite incredible. 12 people are dead 20 missing after floods at the capital of the country of georgia. the flood waters destroyed animal enclosures at the zoo, releasing an unknown numbers of wild animals, including lions, tiger, bear wolves a hippopotamus and a jaguar the hippopotamus was tranquilized and returned to the zoo. the director of the zoo says none of the casualties were caused by animal attacks. >> like everyone hadn't seen it yesterday on the news you still did it as if it was something you feed to see. >> i think it is unique to see. >> if there were more than one hippopotamus, is it hippopotami? >> i don't know. i want to know. >> no that would be the hus husband, the wife. >> another story from over the weekend that has people buzzing this morning. two teenagers are in hospital after a shark attack on the north carolina coast. it happened in the same area less than a mile apart. the attacks came three days after another teenager w

mr. dorsey comes back as interim ceo, if they are planning succession, you have that lined up. number two is mr. nodo. the cfo. liz: who came from goldman sachs. >> who is a deal maker. and my sources are the type of people who talk to mr. nodo on a daily basis. the company did not return, did not commend on, this but these are my wall street sources. liz: what's the worst nightmare that they can't stand alone? >> this is the thing, the thinking is if twitter does not sell to like a google or facebook, which could use -- make use of them and work with them, that the plan then is to go at it alone, that's what wall street believes. liz: you think regulators would approve a facebook-twitter? >> sounds anti-competitive in social circles. what's to stop someone from making another twitter. there is only so much cable. endless possibilities for social media. people are going towards different types of social media, not just using twitter. liz: you're not going to argue, it's a company in turmoil. >> it's a company in turmoil. when you have that, wall street bankers pounce. they are s

mr. dorsey wish to the take on the ceo role i would support him . what the ft reported was wrong. ck dorsey talked about his interon friday. >> not a question i'm considering now. we have a great search committee looking for the right fit for twitter long terp. my tonow is to make sure our product cadence and momentum of execution continues within the company. also to make sure square continues its cadence and momentum with the strong team over there. >> meantime, shares of twitter having a rough day. a new 52-week low below $35. jon fortt said the interview was an embarrassment for costalo and dorsey. what's the long term? >> first of all it's hard for an investor to parse exactly what's true and what's not when talking about twitter. it seems every statement that comes out you have to go really? he says -- dorsey says i'm not thinking about being ceo. really? you have been thinking about leaving things for a long time. you were passionate about power at twitter. now the saudi prince. what's he really saying? the quote in the ft. it would have been nice if he explained what he was

jack dorsey is coming back as ceo, as mr. costolo steps down.h he will remain on the board. >> thank you. julia boorstin just had a discussion with jack. he was asked about twitter. people have been asked about twitter. guy, what do you think this means for twitter? how would you trade the news? >> stay long against $35. i think it's unfortunate. i'm not comparing twitter with facebook. i want to make that point. i will make this comparison. in 2012 if you recall, everybody categorically was calling for the head of ceo mark zuckerberg. i think this is growing pains with twitter. i think if he remained there, they would have figured this out. he is a smart guy. it's unfortunate. the stock against $35 with this news is probably interesting on the long side. >> i understand we are speculating. how does this affect their future as a stand-alone company versus making it would be a good fit for google? >> google stock hasn't done much easier. it would make a lot of sense. before their ipo, i thought twitter made perfect sense for apple. maybe it still

mr. dorsey wish to take on the crow role, i would support him. what the ft reported was wrong. friday during that interview on "squawk on the street" dorsey said becoming the permanent ceo was not a priority for him. >> not eve an question i'm considering right now. we have a great search committee looking for the right fit for twitter long-term, and my focus right now is to make sure our product cadence and momentum of execution continues within the company. and also to make sure square continues its cadence and its momentum with our strong team over there. >> jim, we've not heard from you on this story. >> i caught the interview. ed a ias i mentioned, they embarrassed themselves. they have no plan and they said there's no need to change. the idea there's no need to change that's like -- that is saying everyone we're arrogant. we're not humble at all. we haven't screwed up at all. it's about product. it reminded me very much of 2000. that was the first -- people talk about bubbles. that was a 2000 interview where you would go on and people would go on and say don't worry about

mr. dorsey sy. has 25% stake. neil has more, with "coast to coast" continues in a moment.a small business expert from at&t? yeah, give me a problem and i've got the solution. well, we have 30 years of customer records. our cloud can keep them safe and accessible anywhere. my drivers don't have time to fill out forms. tablets. keep them all digital. we're looking to double our deliveries. our fleet apps will find the fastest route. oh, and your boysenberry apple scones smell about done. ahh, you're good. i like to bake. with at&t get up to $400 dollars in total savings on tools to manage your business. neil: little bit more than an hour away from jeb bush making it official. he already filed paperwork with the federal election commission to run for president. if so he would be the third bush to do so. he would represent the 7th attempt of a bush family member set would be last, 35 years, think of that. all right, one of the things it says, we will make every opportunity great again. we'll take command of our future. later on he says he has the business background and gravit

what could jack dorsey bring that mr. costolo does not have? david: it is a company that is a little bit directionless at this moment. jack brings the founder vision. at least temporarily. there is a lot of con fusion and myths ofonfusion and the origins of twitter. jack is really be most definitive creator of the product. he may be able to figure out where goes better than others. pimm: what is wrong with twitter now? burdeneditter has been with false expectations since the beginning. facebook-scale business. that is an accurate discussion. force, it is vastly more important than as a business. the challenge that a leader house, whether jack or someone else, is to somehow make the withess opportunity lineup its cultural influence. i don't think it is impossible. on the other hand, it will never towards a system like facebook. scarlet: that makes the delicate remaining of the stock will be inevitable. always thought it was overvalued from the beginning. 's first task is to reset expectations, and tell wall street that their are high.n david: yo

he is trying to side with jack dorsey saying he is black listed mr. porter from the "financial times" because of the report saying the large shareholder doesn't necessarily want jack dorsey bear. what is your take on it? >> he probably did say it and they do need to come in a major expectations because they are way too high. twitter has a broken business model. they haven't figured out a way to capture strategy. >> what's really amazing is they don't have a secession tragedy at the ceo last. they had five heads of product development in two years. twitter is like a clown car to the gold mines. the goldmine is in jeopardy. they need a guy who knows the product and how to sell the product. it's event driven news feed like facebook is doing right now. >> they don't have a business model. elizabeth: and electronic pitchfork. >> it is one big giant asset that's chronically lost money. maria: something has to give. you've got user growth slowing revenue growth slowing and at some point the changes we made like shareholders like alwaleed -- >> they've been ta

revenue growth, the management is horrible, dorsey's coming in and doesn't seem to know what he's doing and, you know, the c suite has become completely decimated under mrolo before he left last week. long view is they'll figure it out at some point, and it could be sold. and the long view says that this thing is, obviously, better than a $35 -- liz: we've talked about regulatory problems if google or facebook wanted to buy it. >> i think facebook there's a regulatory problem, but i don't think there's an issue with google. anyway, there's a battle. the longs have been winning since our report, okay? the stock has been going up. that report about the notion that wall street is telling people that this thing could be bought, the management is open to it stopped the downward drift of the stock. liz: let's bring in brian zazi and paul vienna of the "wall street journal." brian, to whom is it most attractive if it were to be purchased? >> i think it's google or facebook because what twitter is trying to do, they are trying to become a shopping mall. they want to put buttons in their feeds, go directly through them and be taken to, let's say, a macy's or a j