Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Bolt announces layoffs

bolt.com

Post reply on HN
Print view View original

11–20 of 564 posts

Re: Bolt announces layoffs

#12

Post by dburn1169 »

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…

> when they only did $5.2M in Q1…

This is insane to me. I work at a startup with a similar valuation and we bring in almost double that amount of revenue a week... and I think we're overvalued.

Re: Bolt announces layoffs

#14

Post by upupandup »

kadomony wrote: post #3

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

Thanks to him, lot of people in the industry are now a bit wiser and more careful while others simp for the establishment because they seek to benefit, are benefiting (maybe in the minds of some, they think they are reading this board and looking at profiles of users who simp or attack them?)

When he outed YC, Sequoia Capital and New York Times, I felt uneasy because I knew there would be blowbacks.

Re: Bolt announces layoffs

#17

Post by tuckerman »

upupandup wrote: post #14
kadomony wrote: post #3

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

Thanks to him, lot of people in the industry are now a bit wiser and more careful while others simp for the establishment because they seek to benefit, are benefiting (maybe in the minds of some, they think they are reading this board and looking at profiles of users who simp or attack them?) When he outed YC, Sequoia Capital and New York Times, I felt uneasy because I knew there would be blowbacks.

Just in case others aren't familiar, dang shared an extremely detailed and respectful refutation of some of Ryan's accusations: https://news.ycombinator.com/item?id=30070287

Edit: added "some of"

Re: Bolt announces layoffs

#18

Post by upupandup »

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…

> There IS risk to the employee; they now have a real loan outstanding and 100% personal recourse, so if the common stock becomes less than exercise price, their personal assets are on the hook

https://twitter.com/theryanking/status/1493390184897032201

HOLY CRAP. How is this even legal???

Re: Bolt announces layoffs

#19

Post by librish »

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…

The founder pushing employees to take such a reckless financial decision while presumably their only insight into many key business metrics is the leaderships rosy portrayal of them is unethically irresponsible.
Post reply on HN