“INSANELY proud…Twitter’s DAU has grown by over 87% since Q2 2018…”
Twitter CEO fires two top executives, freezes hiring
301–310 of 1000 posts
Re: Twitter CEO fires two top executives, freezes hiring
#302> I’m just now learning that Parag fired Kayvon while he was on paternity leave, which is truly awful. > Parag is on his way out too. Why is he firing his product leaders during his lame-duck period? https://twitter.com/CaseyNewton/status/1524790595968901122
Why would firing someone who's on paternity leave be an issue at all? We're talking multi-millionaires who will get multi-million dollar severance. It's pretty hilarious to see the pearl clutching of techno-bourgeoisie over something like this, pretending other tech-lords are getting mistreated over some supposed breach of decorum. The mere fact that he gets to take parental leave puts him head and shoulders above mo…
Assuming that being fired while on paternity leave is even notable as a tragedy is a very 2022 thing.
People can disagree on whether paternity leave is a good, bad, or indifferent thing, but it didn't even exist as a concept for most of humanity's existence in an official capacity. It went from being an idea, to a right, to something roughly comparable to "fired while undergoing chemotherapy" in a generation. It's odd.
Re: Twitter CEO fires two top executives, freezes hiring
#303Earlier 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.
A lot of the richest people in history (other than royalty) just owned one part of one company. Sometimes a car one. Why's that surprising?
Re: Twitter CEO fires two top executives, freezes hiring
#304Earlier 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.
It's all about the car company. This company only sell cars for a rich elite but the market bubble over it is the most remarkable of modern times.
Re: Twitter CEO fires two top executives, freezes hiring
#305Earlier 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.
> a person richer than anyone has ever been in the history of the planet
Tesla's P/E ratio is currently 106. I have no idea why Tesla is so expensive.
Re: Twitter CEO fires two top executives, freezes hiring
#306I suspect this was done in part because Elon Musk wants to make some big changes. It would be best for the outgoing CEO to make these difficult firings and then let Elon Musk come in and set a new tone without dealing with this negativity falling on Elon. I'm not saying this is right, but it makes a lot of sense.
Musk doesn't have any control yet or even insight into the company.
Re: Twitter CEO fires two top executives, freezes hiring
#307Earlier 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.
The majority is due to the fact that Tesla's valuation skyrocketed in 2020-2021. The second-largest car maker by market cap is Toyota at 217B. (They're about double VW group, the next-largest.)
Tesla's market cap is now 740B. For a while there it was over 1T. Here's a fun visualization:
Re: Twitter CEO fires two top executives, freezes hiring
#308Earlier quoted context omitted.
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…
Where is the revolution? There are competitive cars vs tesla for electric. Even if tesla have an edge, it's evolutionary, not at all revolutionary.
Re: Twitter CEO fires two top executives, freezes hiring
#309Why 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?
I'd be shocked if these changes weren't Musk's
It's got nothing to do with Musk as he has no control of the company what so ever. He doesn't even know who the employees are.
Re: Twitter CEO fires two top executives, freezes hiring
#310Earlier 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.
> part-owner of a mid-sized car company (by number of cars sold)
Because the market doesn't, and shouldn't, value things solely based on a snapshot of current business, as opposed to a projection of future business, based only partially on the current snapshot. A phrasing that gets at the market's thinking looks more like "A car company that effectively created the electric car market, right before the entire industry started making credible commitments to switch primarily over to EVs, all while being the most successful company at getting some degree of automated driving into consumer hands and awareness". Your phrasing implies "pre-Cruise GM, but with less sales"; it's no wonder why you're confused.
Note that I'm not claiming that Tesla is appropriately valued right now, and as someone who works in AV, I think their approach to self-driving is misleading and irresponsible. But it sounds like the bulk of your confusion comes from a significant misunderstanding of what the stock market _is_.