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.