Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

“Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

twitter.com

Post reply on HN
Print view View original

51–60 of 193 posts

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#51

Post by treyfitty »

A4ET8a8uTh0 wrote: post #40
ykevinator wrote: post #13

The ego on this guy. Just do it quietly, why brag about it

Because society needs feel good stories right now. I am not even joking. You probably did not realize how close to the abyss we have come last week. In practical terms, people suck when they are scared and hungry. I rarely go for pop culture references, but it is very much applicable here: “Their morals, their code; it's a bad joke. Dropped at the first sign of trouble. They're only as good as the world allows them t…

The abyss is still near. This isn’t, in any way shape or form, over by a long shot.

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#52

Post by goatherders »

goatherders wrote: post #47

Are we really patting people on the back for cutting their own pay to allow employees to be paid more? That's how economics work: if you want to pay X then you have to find that money somewhere.

Downvotes, really? Dont ever change HN

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#53

Post by Reelin »

runarberg wrote: post #41
matwood wrote: post #30

Earlier quoted context omitted.

Do you have a good link explaining the details on the loans -> grants? I’m having a hard time finding an analysis of the final signed bill.

I don’t know how this works in the US, but in Iceland they are offering loans with 50% backing from the state. Meaning that if they fail to pay back the state will pay 50%. This is effectively a grant in all but name since the company has no intensive to pay, but full incentive to have have the state pay.

In the US, small businesses (https://www.npr.org/2020/03/26/821457551/whats-inside-the-se...

> Forgivable loans: There is $350 billion allocated for the Small Business Administration to provide loans of up to $10 million per business. Any portion of that loan used to maintain payroll, keep workers on the books or pay for rent, mortgage and existing debt could be forgiven, provided workers stay employed through the end of June.

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#54

Post by [deleted] »

brenden2 wrote: post #7

What I've been hearing on the internet is that companies are racing to lay off as many people as they need to now, before applying for their free bailout money from the government. It also sounds like businesses are trying to lay off more than they actually need to lay off, in order to get the maximum benefit. The terms of the bailout loans are such that they can lay off people before they apply, get the money, and s…

[deleted]

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#55

Post by liamcardenas »

Almost everyone I know who has run a business (myself included) has made similar sacrifices. This is not that rare. This guy seems to serially try to generate PR by making himself out to be a selfless CEO. In doing so, he is implying that most other CEOs/business owners are bad people.

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#56

Post by carapace »

goatherders wrote: post #48
brenden2 wrote: post #7

What I've been hearing on the internet is that companies are racing to lay off as many people as they need to now, before applying for their free bailout money from the government. It also sounds like businesses are trying to lay off more than they actually need to lay off, in order to get the maximum benefit. The terms of the bailout loans are such that they can lay off people before they apply, get the money, and s…

"What I've been hearing on the internet..." Good grief

Seriously. "Here are some rumors..."

C'mon with that.

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#57

Post by ViViDboarder »

brenden2 wrote: post #7

What I've been hearing on the internet is that companies are racing to lay off as many people as they need to now, before applying for their free bailout money from the government. It also sounds like businesses are trying to lay off more than they actually need to lay off, in order to get the maximum benefit. The terms of the bailout loans are such that they can lay off people before they apply, get the money, and s…

Some may do that, but if we don’t offer loans or bailouts to many companies (as well as bolster unemployment for the individuals) companies will surely lay even more people off, no?

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#58

Post by Reelin »

fonkyyack wrote: post #10
brenden2 wrote: post #7

What I've been hearing on the internet is that companies are racing to lay off as many people as they need to now, before applying for their free bailout money from the government. It also sounds like businesses are trying to lay off more than they actually need to lay off, in order to get the maximum benefit. The terms of the bailout loans are such that they can lay off people before they apply, get the money, and s…

I agree with you with the first point, giving money to companies isn't a good idea but I think it's also a bad idea to give it to "the people". I think it would be better to change. My opinion is most people are going to buy thing they don't need. Instead we could focus on better ideas for the future.... I don't know maybe I'm too utopist...

> My opinion is most people are going to buy thing they don't need.

That's... kind of a large part of the point as far as I understand. It doesn't matter where the money gets spent (rent, necessities, luxuries, hobbies, whatever) - the important thing is to keep the economy moving. When large portions of the economy are disrupted all at once (jobs lost, businesses failed) there's the potential for a domino effect.

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#59

Post by coding123 »

FillardMillmore wrote: post #27
coding123 wrote: post #20

Earlier quoted context omitted.

There are usually people that know about the abuse. You have to hope for whistleblowers at that point.

If a company is behaving unethically (but not necessarily illegally), whistleblowers can help in informing the public as to the abuse. It is especially needed in times of crisis (like this one), but because it's a time of crisis, I would assume the motivations of whistleblowers may be less strong if they don't feel entirely financially secure.

Which is a shame since our country continues to shame and discredit real whistleblowers, instead of giving them job loss immunity (or at least some form of protection that is equal or higher than the monetary loss that could befall them for speaking up).

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#60

Post by ryanSrich »

6gvONxR4sf7o wrote: post #36

I wonder why we aren't hearing about companies selling more stock for funding. Sure it's at a huge discount, but better dilution than destruction, right? Is it just because the bailout loans offer them a better path? Or because they'd rather lay folks off than dilute?

Public companies have the stock market and private companies have VCs. What do you mean?

VCs are talking about how no net new deals are getting done, and the stock market is touch and go each week.

Post reply on HN