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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

#291

Post by nickff »

WORMS_EAT_WORMS wrote: post #165
5bolts wrote: post #90

If he's fired now the current board can offer him a severance package that may not be on the table once Elon takes over. Might be a good thing, or strategic?

Wild. Technically is that legal?

Severance packages are usually a deal: company pays you $X, and you agree to say (or not say) certain things, and also agree where you might work in the future (i.e. not at a competitor). The current board/CEO may want to keep things stable, and offer generous money to keep things on an even keel; Elon may not care what a former executive says or does.

Re: Twitter CEO fires two top executives, freezes hiring

#292

Post by Mindwipe »

MuffinFlavored wrote: post #187
paxys wrote: post #88

Earlier quoted context omitted.

He is going to get a severance package larger that most of us will make in our lifetimes. There's no reason to weep for him.

What does a "head of consumer product" do? Has Twitter's platform/offering changed all that much in 7 years?

"Head of bigger fonts and more padding so the product is more unpleasant to use."

Re: Twitter CEO fires two top executives, freezes hiring

#293

Post by paganel »

SamBam wrote: post #266
ben_w wrote: post #235

Earlier quoted context omitted.

No, why would you think that? His wealth is mostly owning 20% of Tesla, plus some extra few billions from owning significant fractions of SpaceX, The Boring Company, and Neuralink. Presumably there’s some cash in there as well, but on his scale a hundred million is a rounding error.

It still confuses me that being part-owner of an old dot-com payment company, part-owner of a mid-sized car company (by number of cars sold), and part-owner of a (very good) rocket company make a person richer than anyone has ever been in the history of the planet, but that's probably because I just haven't looked into it enough.

That "mid-sized car company" has revolutionised an ~120-year industry while still managing to remain at the forefront, that's why its valuation is so high (even though I also do believe it's over-valued).

I'm not saying this as a Tesla-lover nor as a fan of Musk, in fact, as a lover of gasoline engines and of cars in general I see this as a tragedy (I regard EVs as refrigerators with some wheels attached), but it is what it is.

Re: Twitter CEO fires two top executives, freezes hiring

#294

Post by FatalLogic »

SamBam wrote: post #266
ben_w wrote: post #235

Earlier quoted context omitted.

No, why would you think that? His wealth is mostly owning 20% of Tesla, plus some extra few billions from owning significant fractions of SpaceX, The Boring Company, and Neuralink. Presumably there’s some cash in there as well, but on his scale a hundred million is a rounding error.

It still confuses me that being part-owner of an old dot-com payment company, part-owner of a mid-sized car company (by number of cars sold), and part-owner of a (very good) rocket company make a person richer than anyone has ever been in the history of the planet, but that's probably because I just haven't looked into it enough.

Probably the deciding factor is he owns a relative large portion of those: Almost 20% of Tesla and almost 50% of SpaceX

Compare to Jeff Bezos, for example, who owns 10% of Amazon

Re: Twitter CEO fires two top executives, freezes hiring

#295

Post by lesstenseflow »

Supermancho wrote: post #286
lesstenseflow wrote: post #270

Earlier quoted context omitted.

When does getting fired not suck?

When you want to get fired or don't care.

My point is there's never a "good time" to get fired from a job you don't want to leave. GP doesn't like that this guy was fired on parental leave. OK so fire him on his first day back? There's never a time that won't "suck."

Re: Twitter CEO fires two top executives, freezes hiring

#296

Post by pikseladam »

jmyeet wrote: post #258

The two execs fired were: - Kayvon Beykpour, Head of Consumer Product (3 years, 11 months) [1]; and - Bruce Falck, Revenue Product Lead (5 years at Twitter, 3 years and 11 months in this position) [2] Kinda weird that both people were just shy of serving 4 years in their current roles. When I see moves like this my immediate thought is always, it's to save or make money. For example, there could be an options pool in…

wow. i think this is the true answer.

Re: Twitter CEO fires two top executives, freezes hiring

#297

Post by devmunchies »

e-clinton wrote: post #269
Traster wrote: post #167

Earlier quoted context omitted.

But what's changed? If Parag wanted to go this direction why didn't he do it when he took over as CEO?

It’s been like 5 months. I’d imagine he’s still learning about the issues.

He's been at twitter for 11 years and was the CTO, should take a couple weeks to get up to speed on the knowledge delta between CEO and CTO.

Re: Twitter CEO fires two top executives, freezes hiring

#298

Post by mlindner »

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…

This has nothing to do with Musk so I wouldn't try to attribute it to him.

Re: Twitter CEO fires two top executives, freezes hiring

#299

Post by SamBam »

rleahy22 wrote: post #264
travisgriggs wrote: post #214

Earlier quoted context omitted.

This my feeling as well. Maybe I’m thinking too logically about all this: A) spend paternity leave enjoying your newborn, but in the second half gearing up and remotivating to go back to work, getting back to work and being let go with a “we didn’t want to dismiss you while you were gone, thanks for coming back, here’s the door” vs B) you’re on paternity leave and the company lets you go, but still your leave is fulf…

I feel like you're missing the part of scenario B where you have to take time away from your newborn to find a new job.

When you have a few tens of millions to your name, you can probably do that part at your leisure...

Re: Twitter CEO fires two top executives, freezes hiring

#300

Post by romanhn »

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…

Others provided a bunch of alternative options. I'll throw another one in the mix. Parag has been a CEO a few short months. If he's about to be out, he won't have much to show for his time. Bold moves now can show potential future boards of directors that he has what it takes to take on this role elsewhere.
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