Yeah Zuck is 100% bullet proof. There were tons of hand wringing think pieces about corporate governance when the company IPO’d because of how the structure the equity in the company was such that Zuck was basically accountable to no one.
dual-class share structures should absolutely be illegal. meta is basically a private company, it’s absurd.
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That would actually be taking responsibility.
What’s actually happening is that over 10k people are losing their jobs, while the guy who’s idea this was suffers no consequences at all.
Is this where he recreates his favorite business strategy?
Twitter blue will relaunch on 11/29 with a new price of $50/month. But you can buy it now for only $150 for the year! It never relaunches.
https://twitter.com/elonmusk/status/1592658210917609472?t=NyNmnuvPXu7xT92f-H4Ejw&s=19
I don’t know if it should be illegal. In the end people just need to understand what they invest in and decide if they want to take the risk. If I remember correctly Zuckerberg accompanied the IPO with some letter basically telling investors, look I am going to do things you won’t like with your money and if you can’t handle that don’t invest. I can’t really think of a more transparent caveat emptor statement I have seen for a public investment.
I would much rather be invested in META than in any ADR of a Chinese company (e.g. Alibaba) where what you own is even less than a second non-voting class of shares
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To be fair to Zuck, he explicitly said he structured it so that he’s have the power and his justification was that he’d have the vision to dedicate money to more long term projects that wouldn’t happen if the company had to go quarter by quarter. Everyone took a bet that Zuck had the vision that the normal corporate structure wouldn’t able to produce and it turns out he wasn’t as smart as he thought he was.
Even if no one is getting fired there should be at least some sort of similar financial pain for himself and the executives even if it is largely symbolic because what’s a billion to Zuckerberg.
They could claw back previously granted options, cancel bonuses, Zuckerberg could personally put some of his equity into severance packages (lol right?). There are things that could be done to actually take responsibility on himself and the management team, but that is not what he’s actually going to do.
Regardless Musk is so far into crazy land that it’s making Zuckerberg look like some sort of enlightened EQ guru by comparison just for doing a downsizing the same way most non-tech multinational companies would do it.
Punting relaunch of Blue Verified to November 29th to make sure that it is rock solid
Twitter data suggests most of the people buying Twitter Blue are promoting three things: right wing politics, cryptocurrency, and porn.
…
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commit to being commit to being hardcore
hmm…
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This is a pretty funny thread, doesn’t sound like cross examination is going well for him today
https://twitter.com/chancery_daily/status/1592897849569980417?s=46&t=5cRNdACrBWvP7x9zqAy0pg
https://twitter.com/chancery_daily/status/1592901983325028353?s=46&t=5cRNdACrBWvP7x9zqAy0pg
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Sounds like 3 months severance all around! gl to the poor bastards that decide to stick it out.
Do you dedicate to burn yourself out working long hours at high intensity so that the richest man in the world, a moron who might fire you at any time for no good reason with zero personality, a totally abrasive management style and zero understanding of the work you do (more lines of code written = more good lol) can get a little bit richer?
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Elon should buy Ticketmaster.
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Even more than Elon, usually you can get people to work long hours at a grueling pace if they’re a start up with a chance to make life changing money or they’re dedicated to the vision. People work hard at Amazon because they know that their work is going to have an end result of a real product and look good on a resume because Amazon makes money, and health care workers worked hard during COVID because they’re dedicated to the vision of healthcare.
What’s Twitter got? It’s not a start up, it’s deeply in debt so the financial incentives aren’t really there, and there’s little to no product vision. They just did a speed run of a failed product launch that their internal organization was telling them was going to fail, and it failed in the exact ways they said it would.
So what’s the motivation to do this?
Owning the libs?
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Zuck bet the uptick in what was happening during the pandemic was going to continue on that pace forever.
Dude is not smart.
Everyone should start tweeting at Elon as twitter employees so he wastes a lot of people’s time trying to track them to be fired.
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