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Plaid Layoffs

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Re: Plaid Layoffs

#331

Post by refurb »

_djo_ wrote: post #330
refurb wrote: post #329

Earlier quoted context omitted.

Look at practically every violent revolution by the lower classes - China, Cambodia, Vietnam. Intellectuals, small business owners, what most countries would call the “middle class” were the enemy. The workers are the people truly suffering. Not getting laid off with a cushy severance package or not being allowed to work from home. While many on HN see themselves as the oppressed working class I can promise you the l…

Really not sure what you're trying to argue here. The workers are the people truly suffering. Not getting laid off with a cushy severance package or not being allowed to work from home. There can be suffering in both, this isn't a competition. Someone on an H1B visa supporting parents and parts of their family getting laid off can really struggle even if they're earning a good wage. So we can have sympathy, and empat…

No, my argument is that for those encouraging revolution, they may want to check which side they'll actually be on.

Re: Plaid Layoffs

#332

Post by refurb »

bobkazamakis wrote: post #317
refurb wrote: post #283

Earlier quoted context omitted.

The CEO will be held accountable by the board and shareholders.

and they'll be sentenced to live out the rest of their days in parasailing from the golden chute. Such accountable!

I mean you could say the same for SV engineers. They could completely fuck up their job, eventually get fired and live fat on their equity.

Sure it's not the same amount of money, but you seem to be suggesting we should claw back compensation if someone doesn't do their job.

You really want to open that can of worms?

Re: Plaid Layoffs

#333

Post by Shindi »

playoff_burner wrote: post #231
Shindi wrote: post #215

Earlier quoted context omitted.

16 weeks pay on a $200k/yr salary (ie excluding equity acceleration) is $64k. That's a decent first check into a startup. I know people have families, visa issues, but if you're young and scrappy and already into startups, this is an amazing opportunity to build something new.

Could you elaborate? I'm considering this path.

Yeah for people asking to elaborate, this is what we did to get a ton of investor meetings for our MVP:

1. DO NOT BUILD OR SHIP ANYTHING 2. Instead spend all your time desperately talking to customers about the problem you want to solve. If you don't have a problem, pick a segment of people who you can get a hold of, who are not using the most cutting edge technology or using shitty technology, and use the MOM Test to talk to them. 3. Watch the most recent YC video on how to talk to users and memorize every word they say.

Once you have talked to literally 40 people who have a similar problem, THEN make a demo and get feedback. Buy figma templates, buy frontends, do everything you can to make something presentable to show people. This should not take more than like a day or two.

THEN start building a product.

All too often technical people build before talking to people or do customer development.

Re: Plaid Layoffs

#334

Post by [deleted] »

jdnffjvnv wrote: post #128
game_the0ry wrote: post #61

Earlier quoted context omitted.

In the chimpanzee world, this would be handled differently. In chimp world, when alpha chimp causes chaos that brings down the community, a group of beta chimps will tear apart alpha chimp limb-by-limb, then they elect a new alpha from the group of beta subversives. This also how the organized crime works - leaders get a lot of benefits, but they also get the downside accountability when they fuck up ("skin in the ga…

Are you advocating for mob violence against CEOs for laying people off?

[deleted]

Re: Plaid Layoffs

#335

Post by Giorgi »

UncleMeat wrote: post #325
Giorgi wrote: post #307

Earlier quoted context omitted.

What is your solution? Burn trough money by paying some people that you don't need and then leave everyone unemployed? They are not inconvenient they are not needed anymore. At least they get some supplies. Most of the world don't get jack.

What does "don't need" mean? The solution is to have employees at least have some seat at the table for this process. How are layoffs chosen? How are severance benefits chosen? We are currently seeing generous severance benefits at most of these companies, but absolutely nothing guarantees this. The solution is that when the CEO wants to lay off 15% of the company they go to the employees and say "okay, we need to la…

And employees would come back and say "okay we decided there are no layoffs, for us it's better for you to pay us money till company is burned down"

Re: Plaid Layoffs

#336

Post by UncleMeat »

Giorgi wrote: post #335
UncleMeat wrote: post #325

Earlier quoted context omitted.

What does "don't need" mean? The solution is to have employees at least have some seat at the table for this process. How are layoffs chosen? How are severance benefits chosen? We are currently seeing generous severance benefits at most of these companies, but absolutely nothing guarantees this. The solution is that when the CEO wants to lay off 15% of the company they go to the employees and say "okay, we need to la…

And employees would come back and say "okay we decided there are no layoffs, for us it's better for you to pay us money till company is burned down"

Sure. Advocating for your own needs is good.

Re: Plaid Layoffs

#337

Post by playoff_burner »

Shindi wrote: post #333
playoff_burner wrote: post #231

Earlier quoted context omitted.

Could you elaborate? I'm considering this path.

Yeah for people asking to elaborate, this is what we did to get a ton of investor meetings for our MVP: 1. DO NOT BUILD OR SHIP ANYTHING 2. Instead spend all your time desperately talking to customers about the problem you want to solve. If you don't have a problem, pick a segment of people who you can get a hold of, who are not using the most cutting edge technology or using shitty technology, and use the MOM Test t…

Thank you. This sounds like a real plan.

Re: Plaid Layoffs

#338

Post by mateo411 »

game_the0ry wrote: post #61
monero-xmr wrote: post #19

Dear Floofernistas, This is the hardest thing I have ever done. The market changed - I thought we would make more money, now I think we will make less money. Therefore we have discovered that we don't need all of you. If you aren't needed, here is some money. I hope this is enough money that the internet isn't too mad at me. Remaining Floofernistas, please be kind to the ex-Floofernistas, and help them. Again, I am s…

In the chimpanzee world, this would be handled differently. In chimp world, when alpha chimp causes chaos that brings down the community, a group of beta chimps will tear apart alpha chimp limb-by-limb, then they elect a new alpha from the group of beta subversives. This also how the organized crime works - leaders get a lot of benefits, but they also get the downside accountability when they fuck up ("skin in the ga…

I think the chimpanzee analogy works pretty well in the corporate world too. If the CEO fucks up, then board fires the CEO. They usually don't dismember the CEO, but I don't think it's a pleasant process for anybody. However, everyone involved in this process is compensated very well, so there's no need to feel sorry about it.

Re: Plaid Layoffs

#339

Post by Apocryphon »

subradios wrote: post #297
Yhippa wrote: post #293

Earlier quoted context omitted.

Just spitballing here, maybe the lesson is to not make business plans assuming "stonks always go up" and also take into account a recession.

You can't, your business strategy has to reflect stonks go up. If your funders are all thinking like stonks go up and you try to build a sustainable YoY profit generating business, you aren't producing a risk reward curve attractive in that environment, and thus won't get funded.

Maybe funders need to stop expecting interest rates would stay low forever.

Re: Plaid Layoffs

#340

Post by Giorgi »

UncleMeat wrote: post #336
Giorgi wrote: post #335

Earlier quoted context omitted.

And employees would come back and say "okay we decided there are no layoffs, for us it's better for you to pay us money till company is burned down"

Sure. Advocating for your own needs is good.

And that's why it is done the way it is done.
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