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Is the worlds richest man expected to support a company’s billion dollar burn rate out of pocket? Everyone has been aware for months that the business would ge
by sn0w_crash 4y ago
Is the worlds richest man expected to support a company’s billion dollar burn rate out of pocket?
Everyone has been aware for months that the business would get gutted. The business remains at risk of bankruptcy.
These are employees and contractors, they are not a charity case.
And to also assume they are “less well off” is to suggest that they are somehow poor, disabled, or lack the personal agency to find a new role rather than stay with a company that has been open about downsizing. They’re not Elon’s dependents.
If we’re going to go down that road we might as well count how many janitors HP fired today, and how the CEO should have personally kept them on salary.
- simfree 4y agoThe business is at risk of banruptcy due to the leveraged buyout which took on debt at eye watering interest rates (over 11%): https://news.bloomberglaw.com/banking-law/twitter-musk-deal-drama-is-just-beginning-for-wall-street-banks https://news.bloomberglaw.com/banking-law/twitter-musk-deal-... Excluding the recent settlement payments, Twitter has been profitable for years prior to the buyout.
- mikkergp 4y agoSome people empathize with the working class over CEO’s and billionaires. Some people think in the end, billionaires will be ok, and ultimately are not being exploited. > If we’re going to go down that road we might as well count how many janitors HP fired today, and how the CEO should have personally kept them on salary. Agreed