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Layoffs at Block

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Re: Layoffs at Block

#81

Post by n2d4 »

daxfohl wrote: post #48

We'll see how much the AI aspect is true by whether they're thinning out teams equally, or just axing whole initiatives. My impression of Block was that it was mostly a one-trick pony (okay, two if you include CashApp) with a bunch of side initiatives that never seemed to pan out, so I'm expecting it to be more of the latter, with this being more of an admission that they're now in "maintenance mode". Either way, I t…

In what sense did CashApp not pan out? $16b revenue. Too early to say whether Afterpay will work out but looking good so far

Re: Layoffs at Block

#82

Post by arrowleaf »

krzaG wrote: post #47

It is hard to tell what this company does, but it seems to be involved in bitcoin. Coincidentally we have had a huge drop in bitcoin in the last months. I don't buy anything this weirdo says.

Square payments, CashApp, Tidal (hi-fi music streaming), and some blockchain experiments

Re: Layoffs at Block

#83

Post by mwigdahl »

Swizec wrote: post #36
t-writescode wrote: post #28

Nice severance; but in this job market, holy shit. Yeah, you get 5 months of severance and a bunch of devices and such; but, does this CEO really think these employees will find new work in that time? In this job market? If the profits are still up and growing, why on earth would you evict 40% of the company, to send them into this job market? Why not … try new industries, play around, try to become the next Mitsubis…

> Nice severance; but in this job market, holy shit. I just talked to a bunch of recruiters (we're hiring) and their main piece of advice was: The market is crazy. Move fast . We're seeing people getting jobs within days of starting to look, bailing on offers after signing because they got a better offer somewhere else, etc. 24 hours is the longest you can leave a candidate waiting. You have been warned edit: I am in…

You're hiring, so of course that's the message you're getting from recruiters. "Market is hot", so take their candidates quick before someone else snaps them up. Don't believe this line without confirmation.

Re: Layoffs at Block

#86

Post by operatingthetan »

ej88 wrote: post #80
operatingthetan wrote: post #70

Earlier quoted context omitted.

It seems like the tech job market is exactly the opposite of this right now? Could you be more specific?

trimodal swe compensation (elite, big tech, everyone else) extends to the job markets too

They generalized "the market." I know a lot of out of work SWEs right now.

Re: Layoffs at Block

#87

Post by operatingthetan »

mwigdahl wrote: post #83
Swizec wrote: post #36

Earlier quoted context omitted.

> Nice severance; but in this job market, holy shit. I just talked to a bunch of recruiters (we're hiring) and their main piece of advice was: The market is crazy. Move fast . We're seeing people getting jobs within days of starting to look, bailing on offers after signing because they got a better offer somewhere else, etc. 24 hours is the longest you can leave a candidate waiting. You have been warned edit: I am in…

You're hiring, so of course that's the message you're getting from recruiters. "Market is hot", so take their candidates quick before someone else snaps them up. Don't believe this line without confirmation.

Yeah that would make me consider finding a different recruiter. Real estate agent mentality means their interests are not aligned properly.

Re: Layoffs at Block

#88

Post by gedy »

mattbillenstein wrote: post #30
htrp wrote: post #5

>we're not making this decision because we're in trouble. our business is strong. gross profit continues to grow, we continue to serve more and more customers, and profitability is improving. but something has changed. we're already seeing that the intelligence tools we’re creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build an…

Even if the AI piece isn't really true - smaller flatter teams will move faster anyway. I always wonder having worked in a lot of startups with 10-50ppl, what on earth a business does with 10000.

Sure but it'll still be a 6000+ team - I doubt nimbleness will occur now.

Re: Layoffs at Block

#89

Post by tomhow »

AtlasBarfed wrote: post #17
cyanydeez wrote: post #11

Stock goes up in expectation of ... CEOs doing share buybacks to increase their bonus checks.

[flagged]

> ThE sToCk Is UnDeRvAlUeD

Please don't post sneering comments on HN. The guidelines make it clear we're trying for something better here. https://news.ycombinator.com/newsguidelines.html

Re: Layoffs at Block

#90

Post by jaccola »

jcdavis wrote: post #63
citbl wrote: post #26

[flagged]

Its an extremely annoying trend among a subset of the tech industry who think it makes them cool

Honestly the whole Silicon Valley shtick is becoming old. The fake positivity, the quirky writing style, the "I think the most important quality is sticktuitiveness" linkedin-esque bullshit. Not to mention the cargo-cult that is so obvious in every GPT-wrapper startup.

This was mostly born out of counter signalling the businesses that valued serious people over competent people in the 20th century.

But, like with all things, the pendulum has swung too far in the opposite direction. I believe the next wave of tech countersignalling will be people who actually do take themselves seriously, maybe even dress in suits, etc..

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