Twitter's CEO Jack Dorsey gets "ultimatum'd" by a hedge fund — might lose CEO-ship

Not getting vipassana meditation vibes... — Elliott Management. The huge hedge fund has bought up over $1B worth of Twitter stock and is putting that power right to work — first by reportedly nominating 4 new directors to Twitter's board. But Elliott also reportedly wants to remove/replace Twitter's CEO/co-founder Jack Dorsey. They think Twitter's better off with a new CEO because...

• He's (too) quirky: Silicon Valley founders are known for their visionary-ish eccentricity. Dorsey takes it to another level: 10-day silent vipassana meditations in Myanmar, a planned 6-month trip to Africa this year, eating 1 meal a day, walking 5 miles to work each day. Objectively cool, but investors are concerned.
• He's got a (huge) 2nd hustle... Dorsey's also the CEO/co-founder of Square, the digital payments company valued at $35B (more than Twitter's $27B). This double CEO-ship of 2 big public companies is unusual. Elliott wants a CEO for Twitter focused on Twitter.

Annnd, Jack might have a favorite child... Dorsey owns $531M worth of Twitter stock, but a re-tweetable $4.9B of Square stock. Twitter's stock is barely higher now than it was in 2013 when it IPO'd — meanwhile, Square is thriving.