Semi Related. How does a Bankruptcy work? Does a person who invested 44B get away with minimal consequences if he brings the company down, files for bankruptcy? I am trying to understand the financial risks at play here.
Twitter Android app dev fired: Guess it's official now.
121–130 of 219 posts
Re: Twitter Android app dev fired: Guess it's official now.
#122Earlier quoted context omitted.
Elon literally just said that bankruptcy is a possibility for twitter in the near future. What are these RSUs going to be worth exactly? And how are they going to cash them out?
You can google and see Elon sends the motivational 'bankruptcy' email to all his companies every so often.
That's a peculiar use of the word.
Re: Twitter Android app dev fired: Guess it's official now.
#123Earlier quoted context omitted.
I logged into Twitter with 2FA about an hour ago (hours after this tweet). “Don’t believe everything you read on the Internet.” — Abraham Lincoln
I don't need to, I tried it when I saw this initially. I don't however do it every 15 minutes to see if it's still the case.
Re: Twitter Android app dev fired: Guess it's official now.
#124Earlier quoted context omitted.
Twitter's financial situation is mostly public, so no one needs to speculate. Here's one good analysis – https://twitter.com/EnergyCredit1/status/1591873061149614106 . Twitter was already losing hundreds of millions per year. They now have another $1.2-1.5 billion per year due in loan payments. Interest rates are rising. Advertising revenue is going down due to the recession and companies cutting Twitter spend due to…
It's funny when Elon companies are successful people say it was never him it was the engineers, and then when his companies are having trouble then it's not the engineers, it's him. The fact is it's a team. Twitter has more than enough runway to get through this transition and turn things around. It's up to the team to execute effectively.
Re: Twitter Android app dev fired: Guess it's official now.
#125Earlier quoted context omitted.
It's funny when Elon companies are successful people say it was never him it was the engineers, and then when his companies are having trouble then it's not the engineers, it's him. The fact is it's a team. Twitter has more than enough runway to get through this transition and turn things around. It's up to the team to execute effectively.
Nowhere in this thread am I assigning any blame to anyone, so that's just a strawman diversion from the conversation on your part. As for runway – that's public information as well. Twitter had $6B in cash and securities as of the last financial statement release. That has likely gone down a fair amount due to acquisition-related costs as well as severance payments. Keeping up with the ~$2B/yr burn rate, unless Twitt…
Re: Twitter Android app dev fired: Guess it's official now.
#126Earlier quoted context omitted.
I wonder if there’s a severance package for that. Employment suicide by cop.
Dangerous gamble for just a couple months of severance. Would make me hesitant to hire that person knowing they have such bad judgement as to publicly badmouth the CEO of their company on Twitter. Even hiring managers who personally hate Elon have to understand that this developer could easily turn the same energy on their own company at some point in the future and make them look terrible. Definitely a career limiti…
Re: Twitter Android app dev fired: Guess it's official now.
#127Earlier quoted context omitted.
Nowhere in this thread am I assigning any blame to anyone, so that's just a strawman diversion from the conversation on your part. As for runway – that's public information as well. Twitter had $6B in cash and securities as of the last financial statement release. That has likely gone down a fair amount due to acquisition-related costs as well as severance payments. Keeping up with the ~$2B/yr burn rate, unless Twitt…
Did you forget the $5B/yr they make from advertisers?
Re: Twitter Android app dev fired: Guess it's official now.
#128Folks, just to set expectations here, it’s gonna be like this for a couple years. He’s going to be nanomanaging the company and learning from scratch the entire business and doing wild shit until he figures it out. And it’s going to be chaos internally and leaks left and right and ten crazy stories like this a week. The signal to noise ratio is gonna be ridiculously low and everyone’s going to get whipped up in every…
There's a number of subtle but vast pro-Elon takes subtly woven in, which I generally don't agree with.
But also, it loathes what I loath, which is that we're going to be hearing about this shit for a long long long long time, and the bias will be immensely one directionally negative. Which is almost certainly true. And, probably, for a long time, incredibly fantastically well deserved. But more so: this post questions the value of these proceedings. With that, I think there is truth... although it lends upon a pro-Fog-of-War notion, it leans upon apathy, which I think are weak responses, not good reasons for de-escallating one's popcorn munching tendencies.
I'd like to find a more general way to issue a call for moderation, or just a warning. The news is not bad, not slanted, but just attending to it regularly & dutifully makes us trapped in the cycle of news. There's drama here, a perpetual cliff hanger, and obvious damage & loss & redemption seems improbable (managing the world's most connected network is vastly more intricate & complicated than the much more directed & clear tasks of blasting shit into space). But most of this isn't really that important, doesn't really impact the long fate, even the dumb shit, and letting it take-over too much head-space is dangerous.
What I like about this post is that it talks about the long drama. This is going to be a semi-perpetual fixture of the news cycle. I disagree with a core point which is that the SnR will be low: I think a lot of the leaks & revelations & events will be very telling, very revealing.
But I'm not sure how significant or interesting or useful, as salacious & dirty as they are.
But there is enormous human resilience, & our ability to account for "will it matter" varies, and this is indeed a long game. This is the most inter-connected social network on the planet, by far. Short of real collapse or major fuckery, there's probably just not much that will in fact really change, for those on the network. For all the sound and thunder, storm and stress, it's enormously questionable whether there's any power here. The only noticable change most people can even imagine is ruin, is the end, and that's enormously telling, and also semi-unlikely. What has higher likeliness to change is what part of the vast capitalist system holds the reigns, who is "in charge," but this is a story of powerlessness. All this storm & stress is mostly, for the long forseeable, kind of pointless. This post, although pro-Elon, holds some hint of that perspective. How much attention we give, how readily we strap ourselves in for the ride, & bother with this long act of determining whether anything significant at all will happen, is the realest question. It's the ultimate social question. Does it matter?
Re: Twitter Android app dev fired: Guess it's official now.
#129Earlier quoted context omitted.
> Where have you been? I think you may be uninformed on this. I think you are victim to reading headlines and not understanding what Twitter went to court over. Elon paying the $1B wouldn’t have gotten him out of having to complete the deal. Here’s some details: https://www.cnbc.com/2022/05/13/elon-musk-cant-just-walk-awa...
I was aware that Twitter went to court to complete the deal, but I admit to being misinformed as much of the analysis I read stated both avenues ($1B fee or force the acquisition) were viable. For example, Dan Ives, who is often quoted in articles about this deal, had this to tweet: https://twitter.com/DivesTech/status/1545527442491822089?s=2... It appears that is incorrect.
Thank you for replying earnestly and humbly. I wish more did that!
Re: Twitter Android app dev fired: Guess it's official now.
#130Still not worried lol