Twitter's Jack Dorsey says report cards aren't quarterly

Wall Street has not given Twitter CEO Jack Dorsey a glowing report card for his first year on the job, to judge by the company's battered stock price.

But Dorsey says he measures success using a different yardstick.

At the Vox Media Code Conference on Wednesday, Recode's Peter Kafka asked Dorsey a blunt, but important, question:

"How long are you giving yourself to turn the company around?"

Dorsey replied that he thinks about time in a different way - not how much of it he needs to show results, but rather, how fast Twitter is moving.

"My focus right now is on velocity," he said. "My focus right now is on speed and making sure we're shipping faster against our five priorities. So that's what's in our control. The matter of time is in making sure that we make every single day matter."

When Kafka pushed Dorsey on getting report cards and at what point Twitter would say that something is working or is not working, Dorsey dismissed the idea of quarterly grades.

Twitter is purely focused on making sure the service is useful on a daily basis.

"We have a report card every single day," he said. "It's how many people are using the platform, how many people are valuing it. And that's what we're focusing on."