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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

#171

Post by boringg »

ckastner wrote: post #148
boringg wrote: post #117

Earlier quoted context omitted.

Only reason twitter hasn't tanked is people holding on hoping this deal goes through otherwise it would have dropped significantly with the rest of the tech index. My point is that its market cap is artificially overvalued currently on hopes that elon buys at 54$ (which i doubt he will)

I too believe that he'd be crazy not to renegotiate. As far as I recall, they agreed on a break fee of ~$1bn if Musk walks away. But if he can lower the price to $40 a share (which is still far higher than market would probably be, at least in this market), he gets Twitter at $31bn instead of $42bn.

Painful break fee - worth it in current market conditions though his equity hes putting up will have been reevaluated downwards too.

Re: Twitter CEO fires two top executives, freezes hiring

#172

Post by hn_throwaway_99 »

rcoder wrote: post #126
bradlys wrote: post #85

Earlier quoted context omitted.

Firing while on paternity leave isn't really that bad as long as they give you severance to cover paternity leave plus some extra - which I'm guessing they did since severance packages for higher ups tend to be pretty good. (As compared to no severance or two weeks that many ICs get)

I strongly disagree. Firing someone while they’re on leave sends a direct signal to anyone else considering taking leave: “watch out, you won’t be able to defend yourself if you aren’t here.” ICs follow the lead that executives set. A chilling effect like this will cause folks who most _need_ the leave — single parents, people with family in need of care, or those struggling with their own health issues — to second-g…

Totally disagree, primarily because Twitter offers nearly 5 months of paternity leave. I don't know when the Twitter's Head of Product originally left for paternity leave, but if it was a couple months ago, obviously the world has changed under Twitter's feet in that time.

A business can't just stop because someone is on leave. I would expect them to be treated fairly, and the same as if they were not on leave when it comes to personnel decisions. What would not be fair, to both the employee and all of their colleagues, is to say that when someone goes on leave that there is a moratorium on any changes to their status for 5 months.

Re: Twitter CEO fires two top executives, freezes hiring

#173

Post by fny »

TameAntelope wrote: post #129
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…

You're discounting the very real possibility that Parag is operating as if the deal will not go through, and is making large strategic decisions in anticipation of that being the case. For Parag, I don't see it "burning his reputation" at all, considering either a) he's right and will face the tall task of helming a Twitter that continues to disappoint its investors or b) he's wrong and it won't be his problem when E…

It maximizes his chance of survival either way.

The probability that Elon is margin called by year end is roughly 40% according to option prices.

- 60% chance you get fired either by Musk or investors if you don't turn the ship. - 40% chance you Musk is margin called and doesn't take over, but still might be fired by investors or acquired by someone else who may in turn can him.

Re: Twitter CEO fires two top executives, freezes hiring

#174

Post by mypalmike »

schnebbau wrote: post #54
dpeck wrote: post #43

Letting people go while they’re on maternity or paternity leave us not cool.

Don't worry, he'll be getting a severance larger than you can ever imagine.

The severance is on top of the $20M worth of TWTR stock he already holds, according to public records. Plus whatever other assets he holds, which I would presume to be not insubstantial. I think he'll be OK.

Re: Twitter CEO fires two top executives, freezes hiring

#175

Post by nickstinemates »

rabite wrote: post #113
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…

Quoted post unavailable.

In this version of events, it's likely we'll be able to see how lean Twitter could actually be.

Re: Twitter CEO fires two top executives, freezes hiring

#176

Post by nickstinemates »

user3939382 wrote: post #156
pdq wrote: post #112

Is he the one who gave final approval of the anonymous login-wall, which pops up after 2 screens of scrolling in Twitter? If so, good riddance, as that is an incredibly hostile user pattern. BTW, maybe it's purely coincidence, but after refreshing my browser cache it seems to have gone away today.

Nothing could be worse than the crap reddit has been doing for the last year or so to force users (or from their perspective, useds, as rms likes to say) to download its app or login. First they outright blocked viewing posts unless logged in, then they disabled that, and now brought it back so that random posts are blocked from viewing with a message "This hasn't been reviewed" whatever that means. Someone at reddit…

Agree nothing more hostile than going to reddit on a mobile device these days.

Re: Twitter CEO fires two top executives, freezes hiring

#177

Post by barkingcat »

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.

if you need an example of "hands on the wheel" look to nvidia's attempted purchase of ARM. all board says ok, all shareholders ok, passed through a lot of paperwork but no deal in the end.

Both Nvidia and ARM definitely needed "hands on wheel" regardless of what happened.

any company at this size needs "hands on wheel"

Re: Twitter CEO fires two top executives, freezes hiring

#178

Post by fckgw »

pdq wrote: post #112

Is he the one who gave final approval of the anonymous login-wall, which pops up after 2 screens of scrolling in Twitter? If so, good riddance, as that is an incredibly hostile user pattern. BTW, maybe it's purely coincidence, but after refreshing my browser cache it seems to have gone away today.

If you click the login button, then click the X, it makes that popup go away. Still annoying but just a little lifehack for ya.

Re: Twitter CEO fires two top executives, freezes hiring

#179

Post by SemanticStrengh »

fny wrote: post #173
TameAntelope wrote: post #129

Earlier quoted context omitted.

You're discounting the very real possibility that Parag is operating as if the deal will not go through, and is making large strategic decisions in anticipation of that being the case. For Parag, I don't see it "burning his reputation" at all, considering either a) he's right and will face the tall task of helming a Twitter that continues to disappoint its investors or b) he's wrong and it won't be his problem when E…

It maximizes his chance of survival either way. The probability that Elon is margin called by year end is roughly 40% according to option prices. - 60% chance you get fired either by Musk or investors if you don't turn the ship. - 40% chance you Musk is margin called and doesn't take over, but still might be fired by investors or acquired by someone else who may in turn can him.

The crypto crisis should significantly diminish musk wealth no?
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