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What they write: "As CEO, I approved and took responsibility for our ambitious staffing trajectory – this is on me. " What he totally forgot to mention: "I a

What they write: "As CEO, I approved and took responsibility for our ambitious staffing trajectory – this is on me. " What he totally forgot to mention: "I also take a pay cut to reduce the opex burden on the company and to retain as many FTE as possible"

civilized 4y ago
swinging the ax I take full responsibility for this
- function_seven 4y ago
  This axe is heavy, and the destruction wrought by it saddens me. I need to be compensated for this.
- analyst74 4y ago
  "One who passes the sentence should swing the sword" If it's good enough for a lord, must be good for the CEO.
newfonewhodis 4y ago
"Some of you may die, but it's a sacrifice I am willing to make"
- bombcar 4y ago
  ZAPP: Men, you're lucky men. Soon you'll all be fighting for your planet. Many of you will be dying for your planet. A few of you will be forced through a fine mesh screen for your planet. They will be the luckiest of all. Lord Farquad and Zapp B would make great CEOs.
timack 4y ago
"Some of you may die, but it's a sacrifice I am willing to make," - Lord Farquaad
ChuckNorris89 4y ago
Silicon Valley (the satire TV show) already covered this exact scenario. Mike Judge is a brilliant writer. https://youtu.be/u48vYSLvKNQ?t=17 https://youtu.be/u48vYSLvKNQ?t=17
- lxe 4y ago
  Amazingly on-point. The entire show, at least the first few seasons, is still a mirror of reality in SV.
renewiltord 4y ago
His salary is like $300k and the stock options he was granted as the pandemic growth hit break even at some $300/share (it's $9/share right now).
- jeffbee 4y ago
  In the past year he sold $55 million of shares. Let's don't be too credulous about cries of poverty.
  - renewiltord 4y ago
    Sure but that's not opex (the context of this thread). That's stuff he has by virtue of founding the company.
    - saalweachter 4y ago
      Eh, does he deserve $55M for founding a f(l)ailing company? If he wasn't a founder, would you say "No, never mind the $55M he pulled out of the company last year, last year everything was fine. The massive cash shortfall the company is experiencing today has nothing to do with those $55M that are no longer in the company's coffers."?
      - renewiltord 4y ago
        Mate, ultimately the point is that if you sell $55 m of your stock in a company you're not taking money out of the company. That stuff ceased to be owned by the company when those shares (or derivatives that control them) were granted (way before this point).
        ok_dad 4y ago
        I think ultimately the point is that this guy who fucking sucks at running a company made $55mm, and several hundred people just lost their jobs due to his ineptitude. Seems pretty cut and dried to me that he's a pile of shit; if he really cared about his employees he would truly take responsibility and reinvest some of his money in the company.
redredrobot 4y ago
Are you complaining that when they cut their pay from 400k to 32k that wasn’t enough? Or are you complaining that they didn’t cut their 32k salaries down further?
- robertlagrant 4y ago
  Which people did that?
- HWR_14 4y ago
  I mean, if you think "salaries" doesn't include 800MM in bonuses (the number that's been thrown around), then you're speaking differently than others in the thread.

civilized 4y ago

swinging the ax I take full responsibility for this

function_seven 4y ago
This axe is heavy, and the destruction wrought by it saddens me. I need to be compensated for this.
analyst74 4y ago
"One who passes the sentence should swing the sword" If it's good enough for a lord, must be good for the CEO.

newfonewhodis 4y ago

"Some of you may die, but it's a sacrifice I am willing to make"

bombcar 4y ago
ZAPP: Men, you're lucky men. Soon you'll all be fighting for your planet. Many of you will be dying for your planet. A few of you will be forced through a fine mesh screen for your planet. They will be the luckiest of all. Lord Farquad and Zapp B would make great CEOs.

timack 4y ago

"Some of you may die, but it's a sacrifice I am willing to make," - Lord Farquaad

ChuckNorris89 4y ago

Silicon Valley (the satire TV show) already covered this exact scenario. Mike Judge is a brilliant writer. https://youtu.be/u48vYSLvKNQ?t=17 https://youtu.be/u48vYSLvKNQ?t=17

lxe 4y ago
Amazingly on-point. The entire show, at least the first few seasons, is still a mirror of reality in SV.

renewiltord 4y ago

His salary is like $300k and the stock options he was granted as the pandemic growth hit break even at some $300/share (it's $9/share right now).

jeffbee 4y ago
In the past year he sold $55 million of shares. Let's don't be too credulous about cries of poverty.
- renewiltord 4y ago
  Sure but that's not opex (the context of this thread). That's stuff he has by virtue of founding the company.
  - saalweachter 4y ago
    Eh, does he deserve $55M for founding a f(l)ailing company? If he wasn't a founder, would you say "No, never mind the $55M he pulled out of the company last year, last year everything was fine. The massive cash shortfall the company is experiencing today has nothing to do with those $55M that are no longer in the company's coffers."?
    - renewiltord 4y ago
      Mate, ultimately the point is that if you sell $55 m of your stock in a company you're not taking money out of the company. That stuff ceased to be owned by the company when those shares (or derivatives that control them) were granted (way before this point).
      - ok_dad 4y ago
        I think ultimately the point is that this guy who fucking sucks at running a company made $55mm, and several hundred people just lost their jobs due to his ineptitude. Seems pretty cut and dried to me that he's a pile of shit; if he really cared about his employees he would truly take responsibility and reinvest some of his money in the company.

redredrobot 4y ago

Are you complaining that when they cut their pay from 400k to 32k that wasn’t enough? Or are you complaining that they didn’t cut their 32k salaries down further?

robertlagrant 4y ago
Which people did that?
HWR_14 4y ago
I mean, if you think "salaries" doesn't include 800MM in bonuses (the number that's been thrown around), then you're speaking differently than others in the thread.