“A founder is not a job, it’s a role, an attitude. And it’s something that can happen again and again and again, and in fact, it has to happen again and again and again, otherwise, we would not move forward.”
Jack DorseyJack Patrick Dorsey was born in Missouri. As Dorsey was growing up, he modeled, interned at the Mira Digital Publishing Company under Jim Makkilvi, and eventually moved towards dispatch routing: a procedure allowing workers to be assigned to vehicles or customers.
Dorsey is mainly self-taught and self-made. He started his career in disruptive technology when he created dispatching software for taxis and emergency vehicles. In 2006, he cofounded Twitter and served as CEO until 2008 and then again from 2015 to the present. Dorsey co-founded Square with Jim McKelvey in 2010 and served as CEO from 2012 to the present. Interestingly enough, between 2008 and 2015 Dorsey was engaged with the US State Department as part of several delegations to Iraq, Iran, and Russia.
The Square reader is a technological innovation pioneered by Dorsey, which allowed connecting physical smart devices to digital financial systems and the Internet. It empowered anyone with a cellphone and the reader to function as a small business capable of processing credit card payments. Before the reader, payment capabilities were fixed to a specific location, but Square made it possible to have mobile payment processing devices. This benefitted taxi drivers, food delivery drivers, babysitters, home cleaning services, or any other small business that was traveling from customer to customer. It has most definitely changed the lives of business owners and consumers.
May 21, 2026
On May 21, 2026, after market close, the ERShares Private-Public Crossover ETF (XOVR) updated the carrying value of its position in SPV Exposure to SpaceX, LLC to reflect an implied SpaceX valuation of approximately $1.55 trillion.
This valuation update was made in accordance with the Fund’s Board-approved valuation policies and procedures for fair valuing securities for which market quotations are not readily available or are otherwise deemed unreliable. The valuation reflects the Fund’s review of relevant market information, including observed secondary market activity and other factors considered appropriate under the Fund’s valuation framework.
The Fund will continue to monitor available market information and evaluate the carrying value of its private holdings in accordance with its Board-approved valuation policies and procedures.