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This article is terrible. The takeaway is the hypergrowth ultimately overcomes. Cleaning up the mess will be comparatively easy. Zenefits flouting regulations w

by pbreit 11y ago

This article is terrible. The takeaway is the hypergrowth ultimately overcomes. Cleaning up the mess will be comparatively easy. Zenefits flouting regulations was silly and didn't appear to be necessary. With Sacks at the helm, a huge and growing business and $500m in the bank, Zenefits is very well-positioned.

tyre 11y ago
You may be right, but it isn't that one-sided. 1) Sacks was COO when all of this happened. These were specifically lapses in policy and operations. Are you sure he is immune to the repercussions? 2) "[H]uge and growing" as of last year. Every one of these articles discourages new companies from signing up and talented people from joining the company. Trust is a tremendous factor in health insurance, especially when there are many other options on the market. If I have other options, why go to a company under investigation with a horrendous culture? 3) Based on the state of their operations (poor), company culture (dismal), and customer feedback (even worse), I would push back on them being "well-positioned." $500 million can buy you a lot, but if culture, brand, and operations were that easy, Comcast could turn itself into a modern company in a few months.
- pbreit 11y ago
  1. Sacks has a sterling reputation (and a JD from U of Chicago). He's immune. 2. Zenefits now has a PayPal CEO, exec staffer and board member plus the backing of A16Z. It is an attractive to place to work and obtain services from. 3. I think those things will come around (if they are even as bad as you opine). Comcast is a 50 year-old, former monopoly, $140b company. SO not only a bad comparison but a terrific outcome.
mcguire 11y ago
So you're saying Enron is a buy?
- pbreit 11y ago
  Failing to see the connection.
  - mcguire 11y ago
    The same statement could have been said about Enron at a similar time during that collapse.

by pbreit 11y ago

tyre 11y ago

You may be right, but it isn't that one-sided. 1) Sacks was COO when all of this happened. These were specifically lapses in policy and operations. Are you sure he is immune to the repercussions? 2) "[H]uge and growing" as of last year. Every one of these articles discourages new companies from signing up and talented people from joining the company. Trust is a tremendous factor in health insurance, especially when there are many other options on the market. If I have other options, why go to a company under investigation with a horrendous culture? 3) Based on the state of their operations (poor), company culture (dismal), and customer feedback (even worse), I would push back on them being "well-positioned." $500 million can buy you a lot, but if culture, brand, and operations were that easy, Comcast could turn itself into a modern company in a few months.

pbreit 11y ago
1. Sacks has a sterling reputation (and a JD from U of Chicago). He's immune. 2. Zenefits now has a PayPal CEO, exec staffer and board member plus the backing of A16Z. It is an attractive to place to work and obtain services from. 3. I think those things will come around (if they are even as bad as you opine). Comcast is a 50 year-old, former monopoly, $140b company. SO not only a bad comparison but a terrific outcome.

mcguire 11y ago

So you're saying Enron is a buy?

pbreit 11y ago
Failing to see the connection.
- mcguire 11y ago
  The same statement could have been said about Enron at a similar time during that collapse.