The cloud communications platform Twilio announced its third-quarter earnings have touched $168.9mn, which beat analysts’ expectations to $150.4mn, reported CNBC. However, San Francisco, where the company is headquartered is experiencing a lull. The city has been shaken up by “homelessness, soaring rents, severe income inequality, and a nasty fight over a ballot initiative that will create a $300 million business tax to fund solutions to those problems,” writes Fast Company.
The San Fransico ballet measure called Proposition C aims to raise funds between $250mn and $300mn annually to financially support homeless. However, this sparked a clash between Salesforce CEO Marc Benioff, who was in favour of passing the initiative and Twitter CEO Jack Dorsey, who disagreed. In reference to this, Twilio’s CEO Jeff Lawson said: “This was a huge debate that in many ways tore the city apart–civic leaders against tech leaders, tech leaders against each other.”
After Twilio reported significant results in the first week of November, Lawson, in an effort to help the underrepresented, tweeted: “Twilio is committed to making Prop C successful here in SF. I’m inspired by the conversation that Prop C created—and Twilio is committing $1mn to support homeless programs to help get the work started even before Prop C money gets deployed.”
“As far as I’m concerned, we as a city, we’ve decided that we’re tackling [homelessness] head on,” he said. “And we’re hoping that other business leaders, civic leaders, and nonprofit leaders who are focused on this problem, can just start stepping up and moving toward the solution part of this, as opposed to the debate.”