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Andrew Mason's statement about being fired as Groupon CEO

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Re: Andrew Mason's statement about being fired as Groupon CEO

#51

Post by hyperbovine »

downandout wrote: post #40
sethbannon wrote: post #4

Full text of his statement: (This is for Groupon employees, but I’m posting it publicly since it will leak anyway) People of Groupon, After four and a half intense and wonderful years as CEO of Groupon, I’ve decided that I’d like to spend more time with my family. Just kidding – I was fired today. If you’re wondering why… you haven’t been paying attention. From controversial metrics in our S1 to our material weakness…

Very classy. Keep in mind, though, that it makes is somewhat easier to take being fired in stride when you have a $200 million cushion. He doesn't have to deal with many of the challenges that most newly-fired people do - like finding a job in the not-too-distant future, etc. To be sure, getting kicked out of the company you founded is an emotionally challenging experience, but he can lick his wounds on board a priva…

Getting fired from something you poured your heart and soul into for close to five years, sacrificed relationships, health (+40 lbs), etc., must feel awful. I suspect he really does feel love for many of the people who were in the trenches with him during this time, as he avers in the closing line. Staring at your bulging bank account can only do so much to lessen that pain, at least in the short term.

Re: Andrew Mason's statement about being fired as Groupon CEO

#53

Post by yuhong »

jedc wrote: post #33
kurtvarner wrote: post #22

Earlier quoted context omitted.

He's being replaced by Executive Chairman Eric Lefkofsky and Vice Chairman Ted Leonisis. They will serve as co-CEOs until they find a permanent replacement. Here is Lefkofsky's statment: On behalf of the entire Groupon Board, I want to thank Andrew for his leadership, his creativity and his deep loyalty to Groupon. As a founder, Andrew helped invent the daily deals space, leading Groupon to become one of the fastest…

And if I remember correctly, Eric Lefkofsky was one of the investors who cashed out ~$1billion (!) of his Groupon shares during one of their last VC rounds. I'm surprised they were able to do that, but so many people were killing themselves to be a part of the deal that Eric was able to push this slimy deal through. How any rational VC allows early investors to do that is beyond me... Nothing against the guy (I have…

Reminds me of this: http://news.ycombinator.com/item?id=4284524

Re: Andrew Mason's statement about being fired as Groupon CEO

#54

Post by ChuckMcM »

sethbannon wrote: post #4

Full text of his statement: (This is for Groupon employees, but I’m posting it publicly since it will leak anyway) People of Groupon, After four and a half intense and wonderful years as CEO of Groupon, I’ve decided that I’d like to spend more time with my family. Just kidding – I was fired today. If you’re wondering why… you haven’t been paying attention. From controversial metrics in our S1 to our material weakness…

I too enjoyed the honesty here, but how much of that is Andrew's personality and how much is facilitated by the fact that by cashing out early [1] on an 'inside' round he doesn't actually have to work if he doesn't want to?

What I'm saying is that I have observed that the honesty someone has about how their last job ended is inversely proportional to their need to get another job. If they really need another job, people position their departure in a way that makes them the victim, if they don't care if they get another job, they are more forthcoming. It may be built into the psyche for all I know.

That said, given that it doesn't matter at all if he's seen as being fired or choosing to leave, I think it was great that he was as forthright about his tenure as he chose to be.

[1] http://articles.marketwatch.com/2011-11-03/commentary/306980...

Re: Andrew Mason's statement about being fired as Groupon CEO

#55

Post by sillysaurus »

honestemptor wrote: post #30
sethbannon wrote: post #4

Full text of his statement: (This is for Groupon employees, but I’m posting it publicly since it will leak anyway) People of Groupon, After four and a half intense and wonderful years as CEO of Groupon, I’ve decided that I’d like to spend more time with my family. Just kidding – I was fired today. If you’re wondering why… you haven’t been paying attention. From controversial metrics in our S1 to our material weakness…

Are you serious? Groupon misled investors for years about its real financial numbers, and Mason (along with the puppetmaster, Lefkofsky) made millions off the fake data. The humor in this letter hides the real damage done to investors.

Would you back up your claims? This is interesting.

Re: Andrew Mason's statement about being fired as Groupon CEO

#56

Post by jasonshen »

mattjaynes wrote: post #47
phillco wrote: post #17

Earlier quoted context omitted.

This has to be one of the most honest dismissal statements I've ever read. Major props to him.

Agreed. My only previous exposure to him was the awkward/creepy death stare he gave in an earlier interview: http://allthingsd.com/20110601/see-andrew-masons-amazing-dea... [video] This letter greatly improves my impression of him. Well done.

The video and this letter are both very small snapshots of him as a person. Your impression of him is probably not representative of reality. Consider learning more if you care to have a more accurate impression?

Re: Andrew Mason's statement about being fired as Groupon CEO

#58

Post by arizoo »

sethbannon wrote: post #4

Full text of his statement: (This is for Groupon employees, but I’m posting it publicly since it will leak anyway) People of Groupon, After four and a half intense and wonderful years as CEO of Groupon, I’ve decided that I’d like to spend more time with my family. Just kidding – I was fired today. If you’re wondering why… you haven’t been paying attention. From controversial metrics in our S1 to our material weakness…

"My biggest regrets are the moments that I let a lack of data override my intuition on what’s best for our customers."

lack of data that overrides intuition? If it was a pile of data I could understand, but lack? That's when intuition come handy no?

Re: Andrew Mason's statement about being fired as Groupon CEO

#59

Post by austingunter »

larrys wrote: post #41
tptacek wrote: post #24

Earlier quoted context omitted.

Same. Wow. That guy sounds like someone I'd want to work with in the future.

Agree that the letter is good. But I'm puzzled by your reaction to it. Seems more of a populist "touchy feely aw shucks nice guy". How does that make you want to work for him? He wrote a good letter. What about the things he sucked at? What about the immaturity? The bad business decision. So what he is humble. Some of the business people who are viewed as the most heartless and absolute assholes (by outsiders) can be…

It's a fair point, and you balance out the spectrum of "touchy feely vs. effective," but it's just that: a spectrum. People don't have to be abrasive and impossible to deal with in order to be brilliant, and people don't have to be in touch with their emotions and have good bedside manner to be incompetent and a waste of oxygen.

I think his point that he "made it so far" on his first try is apropos. He's done a shitload as CEO to capitalize on the opportunity and generate a ton of value (debatable whether that will be long term value) in a way that few people ever do.

To fault the guy for having a good exit letter seems a bit myopic.

Re: Andrew Mason's statement about being fired as Groupon CEO

#60

Post by chc »

ChuckMcM wrote: post #54
sethbannon wrote: post #4

Full text of his statement: (This is for Groupon employees, but I’m posting it publicly since it will leak anyway) People of Groupon, After four and a half intense and wonderful years as CEO of Groupon, I’ve decided that I’d like to spend more time with my family. Just kidding – I was fired today. If you’re wondering why… you haven’t been paying attention. From controversial metrics in our S1 to our material weakness…

I too enjoyed the honesty here, but how much of that is Andrew's personality and how much is facilitated by the fact that by cashing out early [1] on an 'inside' round he doesn't actually have to work if he doesn't want to? What I'm saying is that I have observed that the honesty someone has about how their last job ended is inversely proportional to their need to get another job. If they really need another job, peo…

Really? It seems to me that a lot of well-compensated but unsuccessful CEOs take the route that Mason pretended to in his first sentence — "I wasn't fired and my departure is completely amicable. I'm just leaving because I suddenly want to pursue new opportunities and/or spend more time with my family." It's sort of like getting broken up with and describing it as "a mutual decision."
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