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Better.com CEO fires 900 employees on Zoom call

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Re: Better.com CEO fires 900 employees on Zoom call

#471
post #148

Earlier quoted context omitted.

The funny thing is that sharks are more likely to be eaten by dolphins (especially orcas) than vice versa. And sharks also get caught in nets. https://www.nationalgeographic.com/animals/article/killer-wh... I guess Garg is just as weak on marine biology as he is on leadership and business ethics.

Not to fixate but this is kinda interesting to me. I very much believe orcas will kill and eat sharks, but dolphins do too? I didn’t see a mention of it on the article.

Orcas are large dolphins.

Re: Better.com CEO fires 900 employees on Zoom call

#472

I know this sounds horrible but in the days of covid and working from home, what are companies supposed to do if they have to lay off large amounts of people? Make them all risk their health to come to an in-person event, only to be fired? Drive to every employee's house to fire them in person? It obviously sucks but I don't see how, in 2021, this is any different from the kind of thing that would happen all the time…

As others have pointed out, the Zoom part isn't the big problem here. The delivery is. Just for starters, within under a minute he's made the whole thing about him. Comments like, "Last time I cried," and, "I hope I'll be stronger this time," are grossly inappropriate. Nobody gives a shit how he feels, nor should they. This isn't hard for him, it's hard for the people he's firing. He shows a complete lack of respect…

This guy is a narcissistic asshat of the lowest calibre when you look at his online presence. This is entirely in character for him.

Re: Better.com CEO fires 900 employees on Zoom call

#473

Earlier quoted context omitted.

As others have pointed out, the Zoom part isn't the big problem here. The delivery is. Just for starters, within under a minute he's made the whole thing about him. Comments like, "Last time I cried," and, "I hope I'll be stronger this time," are grossly inappropriate. Nobody gives a shit how he feels, nor should they. This isn't hard for him, it's hard for the people he's firing. He shows a complete lack of respect…

This guy is a narcissistic asshat of the lowest calibre when you look at his online presence. This is entirely in character for him.

Yeah, funny you mention that. I did a bit of digging after I'd written that comment and, well, he's certainly said and done some quite unsavoury things.

Re: Better.com CEO fires 900 employees on Zoom call

#474
https://nextmortgagenews.com/news/better-attracts-up-to-1-5-...

Looks like a new B2B / SaaS pivot

“This is exactly the time for us to lean in and accelerate our customer-focused product innovation, and grow our B2B business, which we believe provides us with greater defensibility in a tougher mortgage market,” said Better CEO, Vishal Garg

Re: Better.com CEO fires 900 employees on Zoom call

#476
post #143

Earlier quoted context omitted.

Better.com CEO Threatened to Burn His Business Partner Alive. Now He’s a Billionaire. Last fall, employees at one of America’s fastest-growing startups began making anxious phone calls. They believed that CEO Vishal Garg—a volatile entrepreneur with a history of disgruntled business partners—had been giving huge amounts of equity... https://www.thedailybeast.com/bettercom-ceo-vishal-garg-thre...

Nice, when we started playing with some financial engineering we also noticed that vesting could be any unit of time. So we did grants with super low cost basis (it was very early there was nobody else to placate), and the recipients did 83(b) elections to recognize the income at the low cost basis, so when they exercised at fair market value soon after it wouldnt be income at that point in time, only capital gains w…

I don't think that was the point of the linked article

Pretty sure it was the threatening someone to burn them alive

Re: Better.com CEO fires 900 employees on Zoom call

#477

Earlier quoted context omitted.

Nice, when we started playing with some financial engineering we also noticed that vesting could be any unit of time. So we did grants with super low cost basis (it was very early there was nobody else to placate), and the recipients did 83(b) elections to recognize the income at the low cost basis, so when they exercised at fair market value soon after it wouldnt be income at that point in time, only capital gains w…

I don't think that was the point of the linked article Pretty sure it was the threatening someone to burn them alive

oh, right, that.

it also presented the shareholdings and the compliant ways of transferring consolidated ownership in a negative light

Re: Better.com CEO fires 900 employees on Zoom call

#478

Earlier quoted context omitted.

Not to fixate but this is kinda interesting to me. I very much believe orcas will kill and eat sharks, but dolphins do too? I didn’t see a mention of it on the article.

Orcas are large dolphins.

Well that’s news to me, very interesting. But they’re a member of the dolphin family. When you say dolphin people think porpoise hence my confusion. Thanks for the info!

Re: Better.com CEO fires 900 employees on Zoom call

#479

Earlier quoted context omitted.

This was done at my previous company near the beginning of the pandemic, where half of the company (about 1200 people) were laid off, entirely with one-on-one calls. It worked well and I appreciated it personally.

But the anxiety of waiting all day, as you watch your coworkers slowly drop, and send their farewell emails... wondering if you'll be next... I'd rather find out all at once.

My fun times at AMD

Re: Better.com CEO fires 900 employees on Zoom call

#480

I hope each of the fired employees sue him and he gets himself 900 lawsuits to handle.

ever fully read your employment agreement and the notice of binding arbitration?

Given arbitration costs, 900 arbitration suits might also prove a challenge.
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