4 ms·

Late stage? This is SOP for many large companies going back decades. The tech companies are just sort of new to it and gave it a new name. Many companies in

Late stage? This is SOP for many large companies going back decades. The tech companies are just sort of new to it and gave it a new name. Many companies in the 70s/80s/90s famously had their 10% culling every year. Microsoft called it stack ranking. This is hardly new and is fairly commonly done in many industries. The book name escapes me but the CEOs loved it about how it touted this very thing to do. Is it the 'right thing', no. But is something you should expect from companies. They are not your friend or buddy or partner, no matter what lies they tell you. They are the people who pay you to do work. In the past 15-20 years the tech world has been sheltered from it. If you could code you could make decent money. That part is starting to stabilize as more people can do it. The supply is catching up with the demand. 'Late stage capitalism' is a catch all term for 'the parts of the economic world I think are bad'. If you ignore the curves the curves will remind you that supply and demand exist in all models. Also lawsuits do not happen 'instantly' someone has to pay for the lawyers to make it happen. You have to make sure the law is on your side. You also have to make sure the judicial system is on your side. A class action lawsuit is not a cheap thing someone does in their spare time. Oh and if you mess up you run the risk of ruining your law practic and the political estabilisment going after you.

g-b-r 3y ago
I did know about Microsoft (in the 90s), and I think many companies took inspiration from them; do you have older examples?
- sleepybrett 3y ago
  invented at ge
  - sumtechguy 3y ago
    Pretty much all of the big banks did it too.
deleted 3y ago
[deleted]
FireBeyond 3y ago
> Microsoft called it stack ranking. This is hardly new and is fairly commonly done in many industries. The book name escapes me but the CEOs loved it about how it touted this very thing to do. Is it the 'right thing', no. Jack Welch, who "Action" Jack Barker in Silicon Valley is loosely modeled on. Jack received a $417M severance package on his exit from GE, based on improving revenues from $26B in the 80s to $130B in 2000. However, there was a lot of criticism that this was very flimsy, as the market cap of GE was shrunk 60% in the decade following, with decisions made during his tenure widely believed to have played a part (huge disputes with New York and the EPA about PCBs being dumped into the Hudson River and other pollution). And "Chainsaw" Al Dunlap, who was touted as a "professional turnaround specialist and downsizer". However, later in his career, it was found that most of his turnaround success stories were actually massive accounting fraud to misrepresent the true state of those companies (leading Sunbeam into bankruptcy). Notoriously, too, Al freely admitted that he had many of the traits of a psychopath, but stated his belief was that he viewed many of them as being positives and essential for executive success.

g-b-r 3y ago

I did know about Microsoft (in the 90s), and I think many companies took inspiration from them; do you have older examples?

sleepybrett 3y ago
invented at ge
- sumtechguy 3y ago
  Pretty much all of the big banks did it too.

deleted 3y ago

[deleted]

FireBeyond 3y ago

> Microsoft called it stack ranking. This is hardly new and is fairly commonly done in many industries. The book name escapes me but the CEOs loved it about how it touted this very thing to do. Is it the 'right thing', no. Jack Welch, who "Action" Jack Barker in Silicon Valley is loosely modeled on. Jack received a $417M severance package on his exit from GE, based on improving revenues from $26B in the 80s to $130B in 2000. However, there was a lot of criticism that this was very flimsy, as the market cap of GE was shrunk 60% in the decade following, with decisions made during his tenure widely believed to have played a part (huge disputes with New York and the EPA about PCBs being dumped into the Hudson River and other pollution). And "Chainsaw" Al Dunlap, who was touted as a "professional turnaround specialist and downsizer". However, later in his career, it was found that most of his turnaround success stories were actually massive accounting fraud to misrepresent the true state of those companies (leading Sunbeam into bankruptcy). Notoriously, too, Al freely admitted that he had many of the traits of a psychopath, but stated his belief was that he viewed many of them as being positives and essential for executive success.