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Twitter Layoff Started Today

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Re: Twitter Layoff Started Today

#291

Post by frumper »

hirvi74 wrote: post #278
frumper wrote: post #185

Earlier quoted context omitted.

It's not a good emergency fund at first, but if you roll a few years into bonds then it can act as your fund after a few years.

The part of this that escapes me is that after a certain point one would more than likely have been, by historical accounts, better off the invest in equites. Then again, I am more of a proponent for emergency plans instead of just emergency funds. However, if one wants to hold a portion of bonds and a sub-portion of said bonds happen to be I-Bonds, then I see no issues with that.

I’d agree that long term you’d be better off with more typical investment strategies. I-bonds are good right now, but as the bulk of any young persons investment it wouldn’t make sense. Savings rates have been low for some time now so I-bonds can serve a role for emergency funds if you can get them to older than 12 months safely.

Re: Twitter Layoff Started Today

#292

Post by tgsovlerkhgsel »

sokoloff wrote: post #149
notch656a wrote: post #117

Earlier quoted context omitted.

I would think someone would be happy to lend you the number of shares you have blacked out for a large fee, with a contract you release that to the lender afterwards. Something like "we lend you 75% face of your blackout shares now, in return we get all your blackout shares when they're released." Edit: Per below comment, don't do this :)

Most of these anti-insider trading policies prevent all of the obvious "one clever tricks" by prohibiting entering into options contracts, lending, borrowing, shorting, executing futures transactions, etc. If you could find someone to lend you cash (based on the totality of your financial situation and personal credit), that's fine. It's not fine to borrow someone else's shares and short them during a blackout.

> Most of these anti-insider trading policies

Do they contain penalty provisions beyond getting fired? They're meant to protect both the company and the people from the slightest risk of insider trading allegations, so in most cases violating the policies isn't actually illegal insider trading.

Re: Twitter Layoff Started Today

#293

Post by assttoasstmgr »

throwaway5959 wrote: post #238
ribosometronome wrote: post #214

Earlier quoted context omitted.

I don't understand the utility of this viewpoint. Adults can teach themselves most things given the right tools and incentive. Your viewpoint essentially means nothing is ever problematic ever. Invasive rhinos released onto SF streets causing property damage? Why didn't SF residents learn to defend themselves and their property damage. The world doesn't care if you learn or not. Climate change leading to drought and…

Do you expect us to teach adults how to do laundry and cook dinner as well? When you’re an adult, financial planning becomes your responsibility.

> how to do laundry and cook dinner as well

Half my coworkers lack these basic skills and they drive around in $100k Teslas.

Re: Twitter Layoff Started Today

#294

Post by UncleEntity »

CameronNemo wrote: post #152
throwaway9870 wrote: post #50

Earlier quoted context omitted.

While saving 6 months might be possible, I would love for you to point me to a high-yield savings account.

HYSA is a term typically used to describe savings accounts where the interest rate tracks the federal interest rates and is competitive with other "HYSAs". Right now 1% is the norm, and you can get that from several credit unions and banks. Some banks, however, use their name recognition to attract customers and offer lower yields. For example, a Wells Fargo savings account will not yield 1% at the moment.

Any savings account which pays less than inflation is just paying the bank to hold your cash for you. Which is the point, saving money is bad for the economy because reasons so it must be penalized.

Re: Twitter Layoff Started Today

#295

Post by CoffeeOnWrite »

loeg wrote: post #276
CoffeeOnWrite wrote: post #169

Earlier quoted context omitted.

Banks still want to see evidence of your ability to pay it back.

401k “loans” are a misnomer. There’s no underwriting or leverage. It’s an unpenalized withdrawal with payback (as opposed to regular early withdrawals, which are penalized).

As discussed upthread, 401k loans are not generally accessible to unemployed people.

Re: Twitter Layoff Started Today

#296

Post by filoleg »

thrown321 wrote: post #282
filoleg wrote: post #45

Earlier quoted context omitted.

The stock is yours, but while you are still an employee of that company, there are certain windows (usually around quarterly earnings announcement) during which you atent allowed to sell or buy. This is done as a safeguard to prevent insider trading. Once you are no longer an employee of the company, none of those restrictions apply, you are welcome to sell/buy the company stock whenever you want.

That only applies to higher management, who would know of impending layoffs.

> That only applies to higher management, who would know of impending layoffs.

Nope, that applies to anyone for whom the employment offer says it applies to.

At the previous company I worked at, we had no such rule. At the current one I work for, it applies to all software engineers. At plenty other companies, including FAANG companies like Google, it applies to all software engineers as well. Apple, for example, also doesn't allow you to trade AAPL derivative options in any way whatsoever (so you aren't allowed on your own free time and even using your own money to trade puts and calls).

In those cases, you cannot trade the company shares during certain weeks of each quarter, despite you fully owning those (even if you bought them on your own, before joining the company). Obviously, this only applies if you are still an employee of the company, once you leave you can do whatever you want.

Re: Twitter Layoff Started Today

#297

Post by fleddr »

ribosometronome wrote: post #214
fleddr wrote: post #168

Earlier quoted context omitted.

"Not everyone was taught financial literacy" That's not how adulthood works. The world doesn't care if you learned it nor will it teach you. Besides, it doesn't take a course in finance to understand basic financial responsibility.

I don't understand the utility of this viewpoint. Adults can teach themselves most things given the right tools and incentive. Your viewpoint essentially means nothing is ever problematic ever. Invasive rhinos released onto SF streets causing property damage? Why didn't SF residents learn to defend themselves and their property damage. The world doesn't care if you learn or not. Climate change leading to drought and…

The utility of this viewpoint is that adults should stop victimizing themselves when they lack the absolute basics of being an adult. The very idea of being an adult is that you no longer have somebody to hide behind. You're naked.

Despite the creativity of your rhinos scenarios, the point still stands. Somebody that did proper financial planning would be better equipped to cover the property damage.

And yes, you very much should stockpile food. I have 6 months worth, and adding. I hope you're right and I turn out to the paranoid one, that would be best for the world. But just to give a hint: where I live protesting farmers led to some empty shelves. Nothing existential, but just to share how very quickly such a thing happens and how close it was to a more serious issue. Or, perhaps consider the entirety of Eastern Africa about to face a possible famine. Or, consider Sri Lanka being totally fucked.

I don't say this to hate or judge, I say it to help. Take care of your shit, this world is volatile.

Re: Twitter Layoff Started Today

#298

Post by assttoasstmgr »

stocknoob wrote: post #6
hprotagonist wrote: post #3

Earlier quoted context omitted.

sucks being like the normies, don't it?

Seriously. They are working for a huge name-brand tech employer, and have the best chance of getting a new job (see the LinkedIn replies), but oh yeah, if they run out of severance, and have no emergency fund (because reasons), and their shares are temporarily locked up, whatever will they do? Take out a 401k loan like a plebe?

They'll be left to deal with serious intractable life issues, like having to switch from San Pellegrino to store-brand seltzer water.

Re: Twitter Layoff Started Today

#299

Post by mkr-hn »

coffeeblack wrote: post #188
itslennysfault wrote: post #115

Earlier quoted context omitted.

makes sense. They've been in a hiring freeze for a while now. Not much sense paying recruiters to sit on their hands I guess.

Also, they need to remove the ideologists there first, if they want to be able to replace the ideologists in other positions.

I've never encountered someone in tech who didn't have some kind of ideology. What is particularly troubling to you about the ideology of the people laid off?

Re: Twitter Layoff Started Today

#300

Post by lampshades »

coffeeblack wrote: post #188
itslennysfault wrote: post #115

Earlier quoted context omitted.

makes sense. They've been in a hiring freeze for a while now. Not much sense paying recruiters to sit on their hands I guess.

Also, they need to remove the ideologists there first, if they want to be able to replace the ideologists in other positions.

Ideologist compared to what? A normal person or a Twitter employee? I imagine pretty much every employee at Twitter is an ideologue because I have doubts that a non-ideologue would be able to stomach working there.
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