Fred Wilson on What a CEO Does

From Fred Wilson:

A CEO does only three things. Sets the overall vision and strategy of the company and communicates it to all stakeholders. Recruits, hires, and retains the very best talent for the company. Makes sure there is always enough cash in the bank.

Suggested by Mike Abner on Twitter. I’m not saying there’s strife at Twitter; my earlier post didn’t come out right. Could well be that naming Dick Costolo CEO really was Ev Williams’s idea — that Williams was spending less time on product development and more time on financial matters. Perhaps now, Ev is to Costolo as Sergey Brin and Larry Page are to Eric Schmidt. But what’s his new title?

Update: According to MG Siegler at AOL/TechCrunch, his new title is “co-founder”.

★ Monday, 4 October 2010