Jack Dorsey emphasized that Tidal must operate 'like a startup again,' indicating a strategic shift towards a leaner team structure. He stated, 'We're going to lead with engineering and design, and remove the product management and product marketing functions entirely.' This move reflects a significant restructuring aimed at improving efficiency and creativity within the organization, suggesting that Tidal's previous model was no longer viable in a competitive streaming market.
Despite being founded by Jay-Z and acquiring a substantial investment by Block, Tidal has faced persistent challenges in gaining market share. Dorsey's comments about reducing the size of teams within key operational areas suggest urgency in redefining Tidal's business strategy. The dismissal of the shareholder lawsuit also indicates the turbulent nature of Tidal's leadership decisions, as it was noted that the acquisition 'seemed, by all accounts, a terrible business decision.'
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