I have to admit that I agree with you. The letter gives many reasons for the decisions made but it seems to me like the most salient one is their funding situat

I have to admit that I agree with you. The letter gives many reasons for the decisions made but it seems to me like the most salient one is their funding situation. When funding was plenty, people didn’t need to worry about it too much. In todays market, the situation has changed and they need to make themselves “palatable” to investors. Thus management. Management is absolutely terrible at improving velocity. While they might occasionally provide leadership, Ive seen a lot more cases where decisions are made for egotistical reasons rather than technical ones. Not that ICs are angels, but most decent ICs will recognize good work and promote it whereas with management who don’t actually build anything its a lot more abstract.