Biz Stone Leaves Twitter

Twitter co-founder Isaac “Biz” Stone is sort-of quitting to go pursue new business ideas with fellow co-founder Evan Williams. In a blog post, Stone says that he’ll “continue to work with the company for many years to come,” but that since the current leadership team is so competent, “I’ve decided that the most effective use of my time is to get out of the way until I’m called upon to be of some specific use.”

Instead, Stone, Williams, and longtime friend Jason Goldman will be re-launching “The Obvious Corporation”—the now-defunct company that Twitter grew out of. The original Obvious Corporation was created by Williams to buy back his failed start-up and to generate new business ideas. Williams left Twitter last fall, the AP notes, as new CEO Dick Costolo took over. Twitter’s third co-founder, Jack Dorsey, recently returned as executive chairman and head of product development. (More Biz Stone stories.)