421–430 of 717 posts
Employment is a transitory thing. Remember this the next time you spend your life energy fixing something you could get away with letting fail.
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Would you say the same about working from home generally, which seems to have more staying power (even if we are seeing some return to office)? It seems not-crazy to me that someone would have thought that WFH was going to stick around post-COVID and thus also make people want to keep being able to work out from home.
they’re quite different first and foremost, working out at home has always been available. If you prefer working out at home you were probably already doing it. Second, a lot of people enjoy a social aspect of gyms, or even just find it motivating to be around other people working out even if you don’t talk to them. You only have to spend a little time around fitness oriented folks to know workout at home was never g…
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All of this has already happened. Just look at the stocks of all the pandemic companies. Peleton, Teledoc, Zoom, Docusign and on and on. Pretty much all down 80%+ from their highs.
If anyone had any notion that the markets were efficient or rational in any way regarding the actual underlying value of the companies they purport to represent, I certainly hope that notion didn’t survive the pandemic - I’m not sure what world stocks were pricing in over the last two years, but it didn’t pass even a cursory smell test.
Dying to hear where else you suggest putting investments...?
Somehow I feel that all these VC backed firms just add employees for the sake of adding employees. I use Tastyworks - another free online brokerage that it almost at feature parity with Robinhood. They have stocks, options, futures and even some selective crypto. They also make money using PFOF just like Robinhood. However on Linkedin, their employee count is less than 100 (99 to be precise) On the other hand, Robinh…
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And yet, CEOs for decades (the 50s-80s) did just fine at a fraction of wealth disparity compared to today [1]. In fact, in just the last three years; the overall disparity has increased 31% despite corporations failing to properly manage the pandemic or their workforces. 1 - https://www.forbes.com/sites/annefield/2022/05/23/ceo-worker...
> And yet, CEOs for decades (the 50s-80s) did just fine at a fraction of wealth disparity compared to today [1]. And yet, SW professionals did just fine for decades when making anywhere from a quarter to a third of today's FAANG salaries (inflation adjusted).
Try again.
A lot of Robin Hood's growth in particular was driven by people gambling their stimulus money because they didn't need it to make ends meet, and by the Fed juicing the markets with low rates for far too long, and by the ridiculous meme stock phenomenon. It was a perfect storm of stupidity. Personally I'm glad that some sanity is returning to investing, and we are still a long way from getting back to normal.
people gambling their stimulus money because they didn't need it to make ends meet How did you quantify this statement?
Also, it may be reasonable to use the savings rate as a rough proxy. That rate was higher than it has been for decades when the stimulus was active and has since dropped. [2]
[1] https://www.nytimes.com/2021/03/21/business/stimulus-check-s...
Somehow I feel that all these VC backed firms just add employees for the sake of adding employees. I use Tastyworks - another free online brokerage that it almost at feature parity with Robinhood. They have stocks, options, futures and even some selective crypto. They also make money using PFOF just like Robinhood. However on Linkedin, their employee count is less than 100 (99 to be precise) On the other hand, Robinh…
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We honestly aren't treated better, and as you point out, are usually the first out the door. This has been my experience as a marketer over the last 16+ years. So, so many of my compatriots let go in these lean times (and often not backfilled), leaving those left behind to do 2-3X more work and get the ol "you're lucky to have a job!" speech. I've been laid off twice in my career, despite being considered a high-perf…
If it makes you feel any better layoffs are nothing personal, it all comes down to box ticking on a spreadsheet, to make numbers balance.
The truth is that a majority of tech companies don't need 50%+ of their employees. Google could lay off vast swathes tomorrow and be immensely more profitable without any loss in revenue. The 2010s will be remembered as the golden era for tech employment. The second we start getting industry wide layoffs, the insanely high wage inflation we've seen will kick into reverse much faster than you probably believe possible…
> The truth is that a majority of tech companies don't need 50%+ of their employees. Totally agree. The problem is, nobody knows how to tell which ones. On the ground it's obvious. I'm sure everyone here knows who on their team is crucial to their current production stack, and also knows others who would have no impact (or even positive impact!) if they left. One level up - the direct EM - has most of that context to…
That being said there are some intangibles, like morale etc. It's possible there are people that benefit the team while having low personal productivity.
But anyway, no need to approach in that way. There are probably entire branches of google that could be laid off without any material impact to revenues/profitability, thus all layoffs concentrated in single arm.
Crypto divisions could be cut at many companies without affecting their core businesses. Did Square need to rename itself to Block and add all kinds of crypto functions? How many hundreds of developers are working on that.
I don't think X% headcount cuts horizontally across the org are ever a good idea. Cut non-essential functions. And cut in core branches opportunistically based on low performance.
Somehow I feel that all these VC backed firms just add employees for the sake of adding employees. I use Tastyworks - another free online brokerage that it almost at feature parity with Robinhood. They have stocks, options, futures and even some selective crypto. They also make money using PFOF just like Robinhood. However on Linkedin, their employee count is less than 100 (99 to be precise) On the other hand, Robinh…
I used to work at a real time brokerage + national bank based out of the Midwest. The entire engineering+ operations team was 128 people, exactly. Including the CIO and his assistant who ruled the 39th floor with an iron fist, a hold over from the dot com era. They're publicly traded. I think they're down to 90 people but still running a functional company with tens of thousands of broker dealers. I have no idea how…
Please explain? Is ruling the 39th floor a particularly [financial] in-joke?