Is there any hope for Block?

Hey!

Block’s fourth-quarter shareholder letter was disappointing. Square has fallen behind the competition in terms of growth. Cash App’s user growth has stalled. Yet, Jack Dorsey prioritized building open-source software, mining hardware, and the non-custodial wallet.

However, it seems that the rest of the Block’s team is working hard at reigniting growth in Block’s $XYZ ( ▼ 2.0% ) existing businesses. Square is doubling down on its growth in the mid-market seller segment, and Cash App is doubling down on lending. These plans are real and are expected to start changing the company’s growth trajectory as soon as the second half of this year.

Will this turnaround happen while Block’s chief is focused elsewhere? I hope so. I hope Dorsey’s quest for the next big thing doesn’t distract the rest of the team. I hope Square and Cash App get the resources they need to execute their plans. Maybe that’s a lot to hope for, but hope seems to be a necessary trait for any Block shareholder.

Jevgenijs

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