Jack Dorsey: Faster than everyone else.
To keep his employees motivated and thinking, you won't be surprised to learn that Jack Dorsey is a bit unconventional. Instead of a company picnic or softball game, he took them to a place in San Francisco called Land's End. He wanted to make them think about the Golden Gate Bridge.
Lara Logan: Why?
Jack Dorsey: Why? Because we see the bridge as like this perfect intersection between art and engineering. It has pure utility, in that people commute on it every single day.
Dorsey's point to his colleagues is that when people look at the bridge, they don't think about the commuters or how it functions. They admire its simplicity and beauty. He thinks good software should work the same way.
Jack Dorsey: When people come to Twitter and they want to express something in the world, the technology fades away. It's them writing a simple message and them knowing that people are going to see it.
Lara Logan: And that, to you, is functionality and beauty.
Jack Dorsey: Yeah. It disappears. It disappears because it's so intuitive. It just works.
That's the thinking behind Jack Dorsey's latest invention, called Square Wallet, which radically changes the way we pay for things.
Lara Logan: Is this your favorite place to go for coffee?
Jack Dorsey: Yeah, it is one of my favorite places.
To show us how it works, Dorsey invited us to visit a cafe just around the corner from his office.
Jack Dorsey: What would you like?
Lara Logan: I will have a latte please.
Waitress: Is whole milk okay?
Lara Logan: No.
With the help of GPS, the barista's iPad knows Dorsey and his smart phone are in the house, and his face shows up on the tablet's screen before he even orders.
Lara Logan: So all your customers, I mean who have this app, they just appear.
Waitress: Yeah, yeah, it appears.
It's like a virtual credit card.
Lara Logan: You don't take your wallet out, you don't even take your phone out of your pocket.
Jack Dorsey: I could.
Lara Logan: It just pops up on the screen.
Jack Dorsey: Yeah.
The receipt shows up in an email. It's seamless and simple. But like his other invention, Twitter, Jack Dorsey thinks Square fundamentally changes how people interact. And how they feel.
Jack Dorsey: Money touches every single person on this planet. And at one point in their life they feel bad about it. It feels dirty sometimes. It never feels great. But it does feel great when it disappears. It feels like you're taken care of. It feels like the world is just working.
Everything seems to be working for Jack Dorsey. The Wall Street Journal Magazine named him Technology Innovator of the Year. Accepting that award brought him back to New York, a city he fell in love with when he worked for the dispatch company he hacked into. Dorsey may spend most of his life in the virtual world, but he's still fascinated by real world systems and Manhattan, with its subways, is the biggest system on earth. It may seem like an unrealistic ambition for such a reserved person, but Dorsey not only wants to move here someday, he wants to run for mayor.
Jack Dorsey: What I love about New York is just the electricity I feel right away. I mean just look at us in this station. There's just people walking everywhere and everyone.
Lara Logan: Chaos?
Jack Dorsey: It's chaos. It's kinda like being in a car in the middle of a thunderstorm, right. Everything is raging around you, but you're safe inside that car. So New York feels very much to me like that.
Jack Dorsey knows it helps to be a billionaire if you run for mayor in New York. It's worked before. But if he's serious about running, and he says he is, it will be interesting to see just how he communicates with the voters.
Lara Logan: Do you find it easier to communicate with people via Twitter or face-to-face?
Jack Dorsey: I guess my natural state would be through mediation of letters or through texts, all those mediums, I definitely find ease with. But do I appreciate as much as face-to-face communication? No. Do I feel like I'm an expert in having a normal conversation face-to-face? Absolutely not. That's just not my natural state. I would rather be walking Land's End and thinking about things.
Lara Logan: And tweeting.
Jack Dorsey: And tweeting.