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Twitter CEO fires two top executives, freezes hiring

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Re: Twitter CEO fires two top executives, freezes hiring

#101

Post by SatvikBeri »

paxys wrote: post #42
encoderer wrote: post #29

Earlier quoted context omitted.

He’s being paid millions to keep his hand on the wheel and not be distracted by a deal that may never close.

That's my point though. The board accepted the buyout offer. "Hands on the wheel" means keeping the lights on and making sure everything stays stable until the deal closes. Firing the company's product and revenue leads is the opposite of that.

The fact that the stock price is roughly halfway between the pre-Musk price and Musk's bid suggests the market expects roughly a 50% chance the deal will actually go through.

Re: Twitter CEO fires two top executives, freezes hiring

#102

Post by dimitrios1 »

paxys wrote: post #17

Why is Parag making any major changes at this point? What "new vision" is he going to execute in his last few months at the company before Elon comes in and torpedoes it anyways?

Are you certain Elon would torpedo anything? What if it the move he would make as well? Would he still torpedo it? I am not sure how anyone can say with certainty what Elon will or won't do.

Re: Twitter CEO fires two top executives, freezes hiring

#103

Post by ericbarrett »

three_seagrass wrote: post #78
paxys wrote: post #42

Earlier quoted context omitted.

That's my point though. The board accepted the buyout offer. "Hands on the wheel" means keeping the lights on and making sure everything stays stable until the deal closes. Firing the company's product and revenue leads is the opposite of that.

There is a non-zero probability that Twitter's board is simply calling Musk's bluff. Musk loves attention, but dumping his Tesla holdings to keep getting it may be too much for him.

I wonder if he'll try to renegotiate the deal at a lower price. Given the entire tech sector has fallen precipitously since the first announcement, it wouldn't surprise me if Twitter's board accepts a haircut and does the deal anyway.

Re: Twitter CEO fires two top executives, freezes hiring

#104

Post by rossdavidh »

hintymad wrote: post #96

Growing up outside of the US, I feel kinda cringed when he said he was "INSANELY proud of our collective teams achieved". Such an interesting cultural difference.

I grew up in the US, and I also found that odd. Not unprecedented, but odd. The literal interpretation of that statement might be more justifiable than the one he meant...

Re: Twitter CEO fires two top executives, freezes hiring

#105

Post by bobthepanda »

hintymad wrote: post #96

Growing up outside of the US, I feel kinda cringed when he said he was "INSANELY proud of our collective teams achieved". Such an interesting cultural difference.

it's cringeworthy in the US outside of the job-finding/bragging echo chamber this kind of post normally shows up in

Re: Twitter CEO fires two top executives, freezes hiring

#106

Post by qbasic_forever »

paxys wrote: post #17

Why is Parag making any major changes at this point? What "new vision" is he going to execute in his last few months at the company before Elon comes in and torpedoes it anyways?

Is the twitter deal actually happening? Elon had to get a loan using Tesla stock and if the price of Tesla drops a lot then the whole loan and deal falls apart. I don't know if we know the exact stock price number where it happens, but it's seeming pretty dicey with Tesla continuing to drop in value IMHO.

Re: Twitter CEO fires two top executives, freezes hiring

#107

Post by cycrutchfield »

Traster wrote: post #84

So there's two options right - the first is that Parag is for some reason making big strategic decisions about the direction of the company despite the fact that we all know he'll be gone if the deal closes. Or he's making big strategic changes at the behest of the acquirers before the deal closes. Neither of these things seem particularly kosher moves to make. The question is how to figure out which one it is. It wo…

Or the deal is not going to close?

Re: Twitter CEO fires two top executives, freezes hiring

#109

Post by wpietri »

paxys wrote: post #50
r00fus wrote: post #38

Earlier quoted context omitted.

Why do you think this isn't what is required as part of the acquisition plan?

That's not how acquisitions work. Elon made the offer, it was accepted. Now the company has to continue to operate without his influence until the deal actually closes.

What's your citation for the notion that post-acquisition changes never happen before the deal fully closes? I grant that irreversible structural changes are rare, and cross-company integrations of course can't happen. But here this isn't one company acquiring another, and it's just changing one exec. Maybe you're right, but I've never seen anything showing that.
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