good lord that is nightmare fuel
Yikes. Around 2015 we had a layoff but allowed those impacted to stick around for a couple of weeks. (Maybe some $ incentive to hand things off?)
Anyhow our HR person decided to give a rah rah speech at lunch in the break area. So with the nearly departed sitting there she said stuff like “everyone that is still here is because we value you, you are here for a reason, you are important for our success….”
Someone had to drop her a clue.
You need more?
My former neighbor, who was a sports psychologist for a major NCAA athletics program, gave me some great advice once: “Don’t read the news.”
Reorged into a new team, one of my reports got got, but I still live in a zombie like fugue state
https://www.cnn.com/2024/01/19/investing/wayfair-layoffs/index.html
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Shares of Wayfair (W) soared nearly 16% in premarket trading.
Yay capitalism!
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Less people to pay more money for stonk holders
IIRC, our hero is both an employee and stonk owner as stonk is part of his compensation. Might be misremembering.
Yeah almost all employees get stock comp (but you generally want to sell immediately to not be over leveraged, so it’s basically salary that’s volatile)
In fact our CEO and founder claims we are profitable through a metric called adjusted EBITDA, which is a watered down version of EBITDA, which has nothing to do with profit since it ignores stock based comp (and other non-GAAP things). The company is actually making money (“free cash flow positive”) right now, but only because comp dilutes the stock price instead of draining the coffers.
As always what I’m writing here is all publicly available information, before I get sued by papa CEO
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What’s really fun about EBITDA is what it’s short for, which is ‘bullshit earnings’ lol. Depreciation nearly always has to be replenished at some point in the future and the stock doesn’t exist independent of its debt load. Incredibly in your companies case it also sounds like they’ve managed to get a meaningful chunk of payroll out of EBITDA which is even more hilarious.
I would definitely sell that stock the second I could lol.
The first thing I will always think of when I see EBITDA is Charlie Munger calling it “bullshit earnings.”
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Yuuuuuuup.
Just the most insufferable assholes on the planet, fuck tech bros even worse than finance bros. At least finance bros admit what they are.
The skirmish started last summer when Holly Peterson, who lives with her husband, venture capitalist and Hotwire.com co-founder Karl Peterson, in a 107-year-old mansion valued at $29 million, helped launch a petition asking the city to suspend pickleball in a nearby playground called Presidio Wall: “The endless racket threatens the fragile ecosystem and our community’s prestige,” the petition argued.
Her roughly 12,000-square-foot, eight-bedroom, Tudor-style home commands views of the Golden Gate Bridge—and of the free public pickleball courts. Peterson’s mansion property also includes its own private pickleball court, a fact derided by some pickleballers.
Testifying that month at a meeting of the city’s recreation and park commission, Peterson said the loud whacking of pickleballs as early as 6:20 a.m. jeopardized property values, and said, “I personally have suffered irreversible damages”— noting her own house had been on the market for six months. (The city recently moved the start time for games to 9 a.m.)
“I have looked after my beautiful Julia Morgan house for 17 years and I’m very frustrated because 12 pickleball courts were put in,” Peterson, standing at a speaker’s lectern, told the commission. She closed by imploring officials, “please help us.”
Complaints about pickleball noise are not limited to the super rich:
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To be fair, pickleball is annoying as all get out.
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There is nothing wrong with keeping the courts closed until 9am.
hell yeah, that’s why the city should add 12 more courts right by this shitbag’s house
add stadium lighting to enable 24-hour pickleball
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THAT’s disruption, baby!