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Twitter Android app dev fired: Guess it's official now.

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Re: Twitter Android app dev fired: Guess it's official now.

#151

Post by Volundr »

bottlepalm wrote: post #132
esoterica wrote: post #124

Earlier quoted context omitted.

I mean he was the one that saddled Twitter with a billion dollars in LBO debt. Most successes and failures have many contributors but this particular spot of trouble Twitter is literally just 100% his own doing.

I mean that was the cost of taking control of Twitter. Success or failure are yet to be seen. Their current revenue is more than enough to service the debt, but really all this restructuring is about making the company leaner and more competitive. If the valuation goes up then the debt quickly becomes a non-issue.

> I mean that was the cost of taking control of Twitter.

It wasn't. He structured the acquisition such that Twitter took on substantial new debt rather than providing the funds himself.

Was it a good move? Honestly I'm not savvy's enough about this kind of thing to say, but it definitely wasn't the only move.

A substantial part of Twitter's net loss is because he chose to saddle it with new debt.

Re: Twitter Android app dev fired: Guess it's official now.

#152

Post by kthejoker2 »

amatwl wrote: post #142
fnordpiglet wrote: post #5

He fired another one: https://twitter.com/sachee/status/1592308273071681536?s=46&t... If he fires all the engineers with a bad attitude it’ll just be the product managers left.

Eh, there's a difference between criticizing your boss publicly vs privately.

There's also a difference between criticizing your employees' work publicly vs privately. (And let's be honest - most likely the employee is 100% correct here, and he's lying about their performance as expressed by the codebase.)

Only one of them is wildly inappropriate.

Re: Twitter Android app dev fired: Guess it's official now.

#153

Post by zzleeper »

paxys wrote: post #121
orsenthil wrote: post #79

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.

Far from having consequences, chapter 11 bankruptcy is actually a very powerful and advantageous financial tool in cases like this. Elon can likely wipe away the $13B+ of debt, get rid of all employee stock obligations, and continue to run the company himself under the temporary observation of a bankruptcy court. Chapter 11 filings are a very common outcome of leveraged buyouts like this one.

Wait what? Don't creditors get control of the company? Specially if the firm went down b/c of the actions of the current mgmt?

Re: Twitter Android app dev fired: Guess it's official now.

#154

Post by dragonwriter »

groffee wrote: post #15
superchroma wrote: post #2

jfc the idiot turned off core services for the system and now people can't log in https://twitter.com/kenklippenstein/status/15922599381095219... how much does it cost to run some microservices, what a tool

He HAS to be doing it on purpose, no-one is this retarded, especially when he just paid 44 BILLION for it. It's like the Emperors new clothes, we're all trying to see some kind of genius that just isn't there.

> He HAS to be doing it on purpose, no-one is this retarded, especially when he just paid 44 BILLION for it.

The idea that having lots of money on the line prevents bad decision making, when in fact it can just as easily be evidence of bad decision making, is silly.

Re: Twitter Android app dev fired: Guess it's official now.

#155

Post by postalrat »

Spivak wrote: post #58

I'm surprised at the number of people defending Elon here, how would you feel if your CEO literally shit on your work in public to millions of people and not only that was completely totally wrong about it. Like I'm not surprised that they got fired because Elon behaves like a toddler but god damn if your response isn't to salute two people who got axed for speaking the truth then you have your priorities ass backwar…

I dont know if it's true in this case. But I've worked at many places where things have gone wrong and nobody says anything about it. So it's nice to see things shaken up a bit.

Re: Twitter Android app dev fired: Guess it's official now.

#156

Post by dragonwriter »

m_ke wrote: post #94
albinofrenchy wrote: post #70

Earlier quoted context omitted.

Why would this ever be a smart move? Afaik he couldnt realistically dodge more taxes than he lit on fire at Twitter.

He created a new holding company (X Holdings) for this acquisition that will also be a parent company to Tesla and Space X (see https://www.bloomberg.com/news/articles/2022-04-21/musk-form... ). So he'll be able to carry forward all of the losses against his income from other businesses.

> He created a new holding company (X Holdings) for this acquisition that will also be a parent company to Tesla and Space X

AFAICT, it was very nebulous at the time that it ever would be a common holding company for those (and Musk’s other companies), and very good reasons were cited for being skeptical that that would be workable. And, to my knowledge, none of the other companies has been put under X Holdings.

Re: Twitter Android app dev fired: Guess it's official now.

#158

Post by [deleted] »

divided wrote: post #74
KptMarchewa wrote: post #45

Earlier quoted context omitted.

There was no "fine for pulling out of the deal".

Where have you been? I think you may be uninformed on this. Here's some details: https://www.nytimes.com/2022/04/26/technology/twitter-musk-b... . Later when Elon sought to pull out of the deal, Twitter threatened to go to court to enforce that $1B fee, which led to the buyout proceeding.

[deleted]

Re: Twitter Android app dev fired: Guess it's official now.

#159

Post by tinus_hn »

moistly wrote: post #148
anonporridge wrote: post #46

Earlier quoted context omitted.

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…

> Definitely a career limiting move, if not potentially career ending. She is already receiving job offers, so how could you possibly come to that ridiculous conclusion?

Of course she’s receiving generous offers from the ‘hurr durr Elon bad’ crowd. The career limitation is that most people just aren’t in that crowd. That doesn’t necessarily mean they’re licking Elons boots, it could also mean they don’t care at all or that they are somewhere in the middle.

I’m not in a hiring position but if I were I’d avoid her because I don’t want to import drama into my environment.

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