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Thanks for those links. This claim in the Forbes article doesn't make sense to me: "It doesn’t need the money but it does want to learn from how riders interac

Thanks for those links. This claim in the Forbes article doesn't make sense to me: "It doesn’t need the money but it does want to learn from how riders interact with a service they are paying for." Alphabet has been pressured to show more tangible financial results by activist shareholders[1]. Waymo has 2,500 employees. Waymo's annual budget for headcount alone include stock based compensation is over $1B by my estimate. [1] https://www.ft.com/content/6daa5d29-8595-4630-a633-eb1f8b138446 https://www.ft.com/content/6daa5d29-8595-4630-a633-eb1f8b138...

jeffbee 3y ago
Imagine believing that anyone at Alphabet gives a fuck what a 5% shareholder wants.
- rcme 3y ago
  Apparently someone does. Activist investors are the reason for Google’s layoffs.
  - wepple 3y ago
    Citation (other than Business Insider) needed
    - rcme 3y ago
      How about the Wall Street Journal? https://www.wsj.com/articles/activist-investor-calls-on-google-parent-alphabet-to-slash-costs-11668528859 https://www.wsj.com/articles/activist-investor-calls-on-goog... Or The Guardian? https://www.theguardian.com/technology/2022/nov/15/major-investor-calls-on-google-owner-to-aggressively-cut-staff-and-pay https://www.theguardian.com/technology/2022/nov/15/major-inv... > “We are writing to express our view that the cost base of Alphabet is too high and management needs to take aggressive action,” TCI wrote in the letter, signed by managing director Christopher Hohn. “The company has too many employees and the cost per employee is too high.”
      - saagarjha 3y ago
        What makes you think that TCI was the reason for the layoffs?
        rcme 3y ago
        https://www.teamblind.com/post/Google-Layoffs---TCI-Fund-Yq4xFE1j https://www.teamblind.com/post/Google-Layoffs---TCI-Fund-Yq4... This is a follow-up from TCI
        jeffbee 3y ago
        Your interpretation of these facts is rather loose.
        rcme 3y ago
        How so? Here are the facts: 1. TCI writes a letter to Google saying that they should layoff employees. 2. A few weeks later, Google lays off employees. 3. Literally the day the Google layoffs are announced, TCI writes a letter to Google saying "I have appreciated our recent dialogue concerning Alphabet's cost base. I am encouraged to see that you are now taking some action to right size Alphabet's cost base and understand that it is never an easy decision to let people go." How else should these facts be interpreted.
        jeffbee 3y ago
        As unilateral self-aggrandizing.
        rcme 3y ago
        I don't think you can really call it aggrandizing when you're able to CC Google's board and they'll actually read your letter.
        saagarjha 3y ago
        “Investor makes themselves feel more important than they actually are”
- rurp 3y ago
  Activist investors spur changes with that share of ownership all the time. The exact size of their current stake matters much less than their expected ability to marshall much larger amounts if desired; by buying more stock and/or convincing existing shareholders to vote with them.

jeffbee 3y ago

Imagine believing that anyone at Alphabet gives a fuck what a 5% shareholder wants.

rcme 3y ago
Apparently someone does. Activist investors are the reason for Google’s layoffs.
- wepple 3y ago
  Citation (other than Business Insider) needed
  - rcme 3y ago
    How about the Wall Street Journal? https://www.wsj.com/articles/activist-investor-calls-on-google-parent-alphabet-to-slash-costs-11668528859 https://www.wsj.com/articles/activist-investor-calls-on-goog... Or The Guardian? https://www.theguardian.com/technology/2022/nov/15/major-investor-calls-on-google-owner-to-aggressively-cut-staff-and-pay https://www.theguardian.com/technology/2022/nov/15/major-inv... > “We are writing to express our view that the cost base of Alphabet is too high and management needs to take aggressive action,” TCI wrote in the letter, signed by managing director Christopher Hohn. “The company has too many employees and the cost per employee is too high.”
    - saagarjha 3y ago
      What makes you think that TCI was the reason for the layoffs?
      - rcme 3y ago
        https://www.teamblind.com/post/Google-Layoffs---TCI-Fund-Yq4xFE1j https://www.teamblind.com/post/Google-Layoffs---TCI-Fund-Yq4... This is a follow-up from TCI
        jeffbee 3y ago
        Your interpretation of these facts is rather loose.
        rcme 3y ago
        How so? Here are the facts: 1. TCI writes a letter to Google saying that they should layoff employees. 2. A few weeks later, Google lays off employees. 3. Literally the day the Google layoffs are announced, TCI writes a letter to Google saying "I have appreciated our recent dialogue concerning Alphabet's cost base. I am encouraged to see that you are now taking some action to right size Alphabet's cost base and understand that it is never an easy decision to let people go." How else should these facts be interpreted.
        jeffbee 3y ago
        As unilateral self-aggrandizing.
        rcme 3y ago
        I don't think you can really call it aggrandizing when you're able to CC Google's board and they'll actually read your letter.
        saagarjha 3y ago
        “Investor makes themselves feel more important than they actually are”
rurp 3y ago
Activist investors spur changes with that share of ownership all the time. The exact size of their current stake matters much less than their expected ability to marshall much larger amounts if desired; by buying more stock and/or convincing existing shareholders to vote with them.