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I am perhaps one of Pat's biggest fan. Was in tears when I knew he is back at Intel [1]; >"Notable absent from that list is he fired Pat Gelsinger. Please just
by ksec 2y ago
I am perhaps one of Pat's biggest fan. Was in tears when I knew he is back at Intel [1];
>"Notable absent from that list is he fired Pat Gelsinger. Please just bring him back as CEO." - 2012 on HN, when Paul Otellini Retired.
>"The only one who may have a slim chance to completely transform Intel is Pat Gelsinger, if Andy Grove saved Intel last time, it will be his apprentice to save Intel again. Unfortunately given what Intel has done to Pat during his last tenure, I am not sure if he is willing to pick up the job, especially the board's Chairman is Bryant, not sure how well they go together. But we know Pat still loves Intel, and I know a lot of us miss Pat." [2] - June, 2018
I am sad to read this. As I wrote [2] only a few hours ago about how the $8B from Chip ACT is barely anything if US / Intel wants to compete with TSMC.
Unfortunately there were lot of things that didn't go to plan. Or from my reading of it was out of his control. Cutting Dividends was a No No from Board until late. Big Cut of headcount wasn't allowed until too late. Basically he was tasked to turn the ship around rapidly, not allow to rock the ship too much all while it has leaky water at the bottom. And I will again, like I have already wrote in [1], point the finger at the board.
My reading of this is that it is a little too late to save Intel, both as foundry and chip making. Having Pat "retired" would likely mean the board is now planning to sell Intel off since Pat would likely be the biggest opponents to this idea.
At less than $100B I am sure there are plenty of interested buyers for various part of Intel. Broadcomm could be one. Qualcomm or may be even AMD. I am just not sure who will take the Foundry or if the Foundry will be a separate entity.
I dont want Pat and Intel to end like this. But the world is unforgiving and cruel. I have been watching TSMC grow and cheer leading them in 2010 before 99.99% of the internet even heard of its name and I know their game far too well. So I know competing against TSMC is a task that is borderline impossible in many aspect. But I would still wanted to see Pat bring Intel back to leading edge again. The once almightily Intel.....
Farewell and Goodbye Pat. Thank You for everything you have done.
[1] https://news.ycombinator.com/item?id=25765443 https://news.ycombinator.com/item?id=25765443
[2] https://news.ycombinator.com/item?id=42293541 https://news.ycombinator.com/item?id=42293541
- crowcroft 2y agoI hope they sell off some more distracting/minor parts of the business, and then work with a fund to take the company private. Similar to Yahoo a number of years ago, there's some real business still there, they just need to remove the expectation of constant quarterly calls and expectations and make long term, consistent investments again.
- bgnn 2y agooh this board would not do that. they just want to cannibalize intel.
- evanelias 2y agoYahoo's acquisition by Verizon was a tire-fire train wreck of epic proportions. In no universe is this something to emulate. There's a good reason every single Verizon exec involved in that deal was gone relatively shortly after this disaster. They basically incinerated $5 billion in the process of buying Yahoo, merging it with AOL to form "Oath", doing many rounds of layoffs with extremely overgenerous severance packages, strip-mining the business units in ill-conceived deals (often in exchange for stock in absurd companies like MoviePass and Buzzfeed), and then eventually dumping the remainder on a PE firm at a huge loss. Or, as Wikipedia succinctly summarizes these events, "the integration did not deliver the expected value".