3 ms·
The conclusion you should actually takeaway from this is that it was total mismanagement, and almost to be expected based on the fact that they hired > 20k peop
by bfeynman 4y ago
The conclusion you should actually takeaway from this is that it was total mismanagement, and almost to be expected based on the fact that they hired > 20k people during the pandemic.
Step 1: Hire >20k people using cheap money
Step 2: Don't actually have them work on meaningful projects or revenue producing units
Step 3: Fed says free money is gone, whole mark goes down, stocks pull back, realize that none of those projects are doing anything or making money
Step 4: Lay them all off, claim that it's due to WFH not being effective, not for example the fact they were never working on products that make money or ones that even got to market.
Garbage in/Garbage out, but sure it is WFH and not the metaverse
- renewedrebecca 4y agoI'd be really impressed with a CEO who could look at one of their pet projects and say "you know, I thought this would be cool, but in hindsight, it was kind of lame." I'd have a lot a respect for someone like that. I have little respect for someone who always finds someone else to blame.
- singron 4y agoBob Iger (now Disney CEO) has a story about when he was an exec at ABC and greenlit "Cop Rock", a musical tv show about a police department. It sounds bad now, sounded bad then, and was quickly cancelled after all misplaced optimism had been thoroughly extinguished.