Square CEO and co-founder Jack Dorsey called the report “false” on Twitter.
Former Square COO Keith Rabois also used Twitter as a bullhorn to knock down the report. But, Rabois went much further than Dorsey.
He then tweeted that the report constitutes as libel — and shows actual malice — because “there are several assertions of fact in there that are false and the writer recklessly disregarded.”
When the reporter, Ian kar, asked what those facts were, Rabois fired back with a zinger about new PayPal CEO Dan Schulman:
Kar wrote that sources said Square may be running out of “burn money,” which Rabois called “false and libelous.”