I wonder what changed….
Twitter CEO fires two top executives, freezes hiring
331–340 of 1000 posts
Re: Twitter CEO fires two top executives, freezes hiring
#332Earlier quoted context omitted.
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."
Paternity leave is likely worse, due to losing insurance coverage and other benefits that are useful and otherwise costly for a newborn.
Yes, there is COBRA and he is probably doing just fine financially, but significant unplanned changes in income/costs are never fun
Re: Twitter CEO fires two top executives, freezes hiring
#333> 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
If parental leave should legally be counted as "working" (which it is, in many jurisdictions), with pay increase, bonus and promotions being based on virtual work, then why shouldn't firing be just fine too?
Obviously not fire in any way related to parental leave, but if it's to be counted as work then it should be consistent.
Re: Twitter CEO fires two top executives, freezes hiring
#334The 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…
Are there really no clauses in contracts or laws to prevent something like this? That sounds incredibly scummy.
Re: Twitter CEO fires two top executives, freezes hiring
#335Earlier 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…
But what's changed? If Parag wanted to go this direction why didn't he do it when he took over as CEO?
A thoughtful CEO doesn’t take the role and immediately start making changes. It takes some time to absorb what’s going on.
Re: Twitter CEO fires two top executives, freezes hiring
#336Earlier 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.
Corrected for inflation, John D. Rockefeller is probably the richest American ever.
Hmm, according to this calculator [1], Rockefeller's net worth of $1.4B in 1937 would be worth $28B today.
Elon's is around $240B, so it sounds like 10x the amount.
Even by different calculations, it seems like an order of magnitude is a big difference.
By GDP, they are both worth around 1% of the US GDP, but the US GDP is many times what it was then, particularly post-WWII.
Musk's buying power seems significantly more than Rockefeller's by any metric.
Re: Twitter CEO fires two top executives, freezes hiring
#337Earlier 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.
> 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 industr…
The stock market is not about retributing merit though. When the EV market will be very significant, there will be no strong reason to choose a tesla over dozens of alternatives. There will be Huaweis/xiaomis equivalents for cars.
Re: Twitter CEO fires two top executives, freezes hiring
#338Earlier 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.
"Keeping the lights on" isn't enough: to be a good CEO, he needs to keep making progress, especially on shared goals of both old & possible-new ownership.
One guess (albeit not one of high confidence) is that the outgoing head may have expressed some reservations about whatever balancing-of-concerns Agrawal was expecting, or even mentioned a firm intent to leave if/when new-ownership arrives. In that case, it'd be very reasonable for the CEO to say, "I need someone here who at least has a chance of, and can earnestly simulate an intent to, stay through the change-of-ownership."
Re: Twitter CEO fires two top executives, freezes hiring
#339> 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
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.
Laid off, sure. Fired, maybe not?
Edi: Kayvon says he was "asked to leave" which is not the same as fired.
Re: Twitter CEO fires two top executives, freezes hiring
#340Earlier quoted context omitted.
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.
I assume revolutionary in that other companies have only really started taking EVs seriously due to the success of Tesla.
People constantly attempt to pretend Tesla didn't spark the EV revolution, because they can't stand to give Musk and or a US company credit.
It's the same reason they aggressively pretend Apple didn't spark the smartphone revolution (when it all very obviously derived from the iPhone and its dramatic impact, right down to the design of the phone and interface being copied by everyone else).
It's the same reason if you say the US invented the Internet here on HN, you'll get confused replies by people from outside of the US that are entirely ignorant of that fact, because of foreign revisionist history and the desperate desire to deny the US credit for its vast accomplishments (the America bad brigade). The same goes for eg the transistor, microprocessor and countless other prominent technologies that revolutionized the world.