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Billion-dollar baby

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in Best-Practices Leadership,Leaders & Managers

Jack Dorsey, co-founder of Twitter and boss of his other startup, the mobile payment company Square, wants to simplify everything.

Square lets anybody accept credit card payments through a little square swiper that attaches to a smartphone. It now processes $15 billion in transactions a year, up from $5 billion in April 2012.

Now Dorsey wants to make things even simpler, including accounting and loyalty programs. In a Twitter-like way, he envisions helping regular people—small business owners like dog sitters, traveling musicians, local craftspeople and taxi drivers—who will lead a new business revival.

“The power of the local economy will help fix the national economy,” he says.

— Adapted from “The Pride of St. Louis,” Michal Lev-Ram, Fortune.

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