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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

#341

Post by shapefrog »

JumpCrisscross wrote: post #250
fny wrote: post #173

Earlier quoted context omitted.

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.

> Elon is margin called by year end is roughly 40% according to option prices The margin loans will almost certainly be replaced with outside equity prior to closing.

I am wondering what is in it for those people lining up - they are paying 20% over the market value to be locked in with musk.

Re: Twitter CEO fires two top executives, freezes hiring

#342

Post by lkxijlewlf »

next_xibalba wrote: post #149
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…

> So there's two options right There are far more possibilities than those two. Here's just one off the top of my head (I assign no probabilities here, just pointing out this false binary): This person is being fired as a result of some investigation or process that began prior to the acquisition process and whose results have only just been reached. There are a whole range of process driving, "my hands are tied" sce…

Another possibility is the interim person lobbied hard to have the job and made some rather convincing arguments.

Re: Twitter CEO fires two top executives, freezes hiring

#343

Post by seydor »

kyledrake wrote: post #189

I've been using Twitter since it's main novelty was that it was a successful Ruby on Rails app, and honestly I've been trying to figure out where the exit is for my personal use of Twitter lately. If the acquisition goes through, Twitter won't make enough money to service it's debt, and the things they will do to fix that are pretty much guaranteed to lower the quality of the platform, which frankly has never worked…

Does twitter have a community? My use case for it is that of an RSS reader. I thought reddit was for community

Re: Twitter CEO fires two top executives, freezes hiring

#345

Post by rchaud »

chrisco255 wrote: post #138
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 mean, it's still getting fired heading into a recession shortly after having a kid.

His stock options have probably been in the black for years.

Re: Twitter CEO fires two top executives, freezes hiring

#346

Post by jiveturkey »

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…

maybe twitter accelerated their vest, or (at the exec level) there's a clause for that in their agreement. i'd lean that way before i considered this is a money saving move.

Re: Twitter CEO fires two top executives, freezes hiring

#347

Post by [deleted] »

TameAntelope wrote: post #140
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.

What's odd about it? Why wouldn't he be proud of his team for successfully building stuff he thought was important to build?

[deleted]

Re: Twitter CEO fires two top executives, freezes hiring

#348

Post by stingraycharles »

wnevets wrote: post #334
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…

Are there really no clauses in contracts or laws to prevent something like this? That sounds incredibly scummy.

I always understood that, while it’s frowned upon, it’s definitely allowed.

It’s very scummy yes, but option plans are always a bit of a disguise trick, as it’s seen as part of your compensation, but in reality should really be considered a retroactive bonus you get after staying with the company for N years.

Re: Twitter CEO fires two top executives, freezes hiring

#349

Post by ntkachov »

wnevets wrote: post #334
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…

Are there really no clauses in contracts or laws to prevent something like this? That sounds incredibly scummy.

That would be on the executive and the company to negotiate that aspect in the contract deal. Executive contracts almost always have lawyers behind them.

Re: Twitter CEO fires two top executives, freezes hiring

#350

Post by natly »

peppertree wrote: post #330
kadenwolff wrote: post #40

Interesting that he co-founded Periscope and they also just removed any mention of Periscope from their TOS. Maybe just an artifact of them considering removing him, or it has no meaning. Just found the timing notable.

Periscope was one the main reasons they killed Vine.

That makes no sense to me, they're completely different products. (Periscope is about livestreaming vine was short clips.)
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