Bolt announces layoffs

#1

Post by Lapz » Wed, May 25, 2022, 5:23 PM UTC

Re: Bolt announces layoffs

#2

Post by Lapz » Wed, May 25, 2022, 5:34 PM UTC

The founder also encouraged employees to take on what was effectively personal debt at an ~11B valuation when they only did $5.2M in Q1…

Re: Bolt announces layoffs

#3

Post by kadomony » Wed, May 25, 2022, 6:14 PM UTC

Waiting for Ryan’s tweet storm eagerly to see how blame is shifted to VC and Stripe.

Re: Bolt announces layoffs

#4

Post by Solvitieg » Wed, May 25, 2022, 6:24 PM UTC

Lapz wrote: post #2

The founder also encouraged employees to take on what was effectively personal debt at an ~11B valuation when they only did $5.2M in Q1…

And "over half" of their employees apparently took on the debt.

Source: https://twitter.com/theryanking/status/1493609864534315014

Re: Bolt announces layoffs

#5

Post by aghilmort » Wed, May 25, 2022, 7:54 PM UTC

No post body was provided.

Re: Bolt announces layoffs

#6

Post by druther » Wed, May 25, 2022, 8:10 PM UTC

More interesting details at https://nypost.com/2022/05/25/bolt-lays-off-staff-as-payment...

Re: Bolt announces layoffs

#7

Post by 88840-8855 » Wed, May 25, 2022, 8:14 PM UTC

[flagged]

Re: Bolt announces layoffs

#8

Post by [deleted] » Wed, May 25, 2022, 8:16 PM UTC

Lapz wrote: post #2

The founder also encouraged employees to take on what was effectively personal debt at an ~11B valuation when they only did $5.2M in Q1…

[deleted]

Re: Bolt announces layoffs

#9

Post by bombcar » Wed, May 25, 2022, 8:16 PM UTC

Solvitieg wrote: post #4

Lapz wrote: post #2

The founder also encouraged employees to take on what was effectively personal debt at an ~11B valuation when they only did $5.2M in Q1…

And "over half" of their employees apparently took on the debt. Source: https://twitter.com/theryanking/status/1493609864534315014

"It was different in the 90s" will turn out to be "it's exactly the same today".

Re: Bolt announces layoffs

#10

Post by nilsbunger » Wed, May 25, 2022, 8:18 PM UTC

This kind of message feels more authentic to me if you put the big news in the first sentence, then cover logistics, then add any context you want. Seems better than making people wade through a lot of stuff about securing financial position, market conditions, etc etc to learn if they are losing their job.