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Oracle slashes 30k jobs

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Re: Oracle slashes 30k jobs

#131
post #2

More victims of AI. Not actually of "AI is replacing jobs", more "oh shit we are spending too much and the product isn't good enough for us to ever make a return on our absurd over-investment".

Blame it on whatever you like. oracle has been a rudderless leech for nearly 30 years now.

- overpricing the database led to a predictable exodus and new players with often times better performance.

- acquisition of MySQL led to a predictable exodus and new players like maria with often times better performance.

- Oracle cloud arrived late to spectacular skepticism and low user turnout from customers who had been burned by high cost and users burned from decisions like the death of opensolaris. it exists on federal life support these days by the grace of the prevailing administration.

- more than 80 products, with hundreds of thousands of patches and updates, yet no coherent or meaningful reform of the build for more than forty years. DB 19c still ships broken for redhat 9 as a means of driving users to oracle linux, and patching the installer is a 1970s experience in itself. DB 23's greatest improvement has been to tack the letters "AI" onto it to chum what shallow AI waters Oracle deigns to tread outside of an investment portfolio.

- dumping cash into oracle enterprise linux despite it only having around 2500 active corporate users.

this is nearly 20% of the company being laid off.

Re: Oracle slashes 30k jobs

#132

Earlier quoted context omitted.

Whatever you do, do not ever book a 1:1 meeting on a Friday afternoon for Monday morning titled, "The Future."

I had to let an employee go because he didn't do any work, took forever to respond to chats (in a remote position), and was always late for meetings. I scheduled the 4pm Friday meeting to let him go. He was 15 minutes late.

Sounds like me on site, ADHD is a bitch, people probably think I don’t anything too.

Re: Oracle slashes 30k jobs

#133

Earlier quoted context omitted.

-

That isn't though. Both Cerner (EHR) and NetSuite (ERP) were laggards in their market segments for years. If I'm the Director of Enterprise Applications and have a budget allocated to procurement, I have no reason to purchase a laggard product like Cerner or NetSuite even with the Oracle bundle when SAP is giving significant discounts because OpenAI, Anthropic, and GCP are offering partnerships with systems integrati…

> Based on your response, I doubt you even cared to read my entire post.

I didn't read it because it didn't exist yet, you added it in an edit.

You're not even disagreeing with my response, merely elaborating the mechanism behind it. This is bad faith posting.

Re: Oracle slashes 30k jobs

#134

Earlier quoted context omitted.

One of the ideal things that companies can do is not hire people. A company that never hires someone will never let anyone go and consequently is the only ethical company. The worst thing that a company could do is pay someone to do a job for a while. In fact, one thing we could do is make sure that all jobs should be perpetual. If someone hires you, they can't stop paying you until they die or declare bankruptcy. Th…

It’s not unethical to lay someone off

It's an unpriced negative externality.

Re: Oracle slashes 30k jobs

#137

Earlier quoted context omitted.

> The main teams hit - RHS, SVOS, and NetSuite India - are associated with Cerner and NetSuite, both of which can serve to reduce some fat. > reduce some fat Yes, but, well... why do they need to do that at all? I mean, what made them make this decision right now? I think it was mentioned in the article - they're in debt because of their AI data centers projects: > Oracle has taken on $58 billion in new debt within j…

> Yes, but, well... why do they need to do that at all Because the ERP and EHR market is almost entirely dominated by SAP and Epic. Frankly, the Cerner bet was already a bad bet when they took it in the early 2020s as was NetSuite to a certain extent. No business has an obligation to hire you in perpetuity. Similarly, you have no obligation to remain at a company you don't like. > Although... >> All of this is happen…

> Because the ERP and EHR market is almost entirely dominated by SAP and Epic.

And still they were trying to compete, weren't they?

> Which is largely attributed to the growth in spend on Oracle Cloud.

That's exactly what I'm trying to say. Why have their cloud services are suddenly started to make more money, roughly speaking? And at the same time, what is (seemingly) the main reason for their recent debt increase? They do cut out the fat, yes, I agree, but what exactly pushed them to do it right now? What made them to act so quickly and urgently? That's what I'm trying to say.

Re: Oracle slashes 30k jobs

#138

It's still a company worth $400B that makes $3B of profits and not even $20B of revenue. And full of debt from AI datacenters full of hardware with a 6 year depreciation cycle, possibly even lower depending on what NVidia releases next. So overvalued!

Oracle has >$60B in revenue and $16B in net income. It doesn’t seem crazily overvalued to me? Perhaps you were looking at quarterly statements?

https://finance.yahoo.com/quote/ORCL/financials/

Re: Oracle slashes 30k jobs

#139

Earlier quoted context omitted.

> The main teams hit - RHS, SVOS, and NetSuite India - are associated with Cerner and NetSuite, both of which can serve to reduce some fat. > reduce some fat Yes, but, well... why do they need to do that at all? I mean, what made them make this decision right now? I think it was mentioned in the article - they're in debt because of their AI data centers projects: > Oracle has taken on $58 billion in new debt within j…

> Yes, but, well... why do they need to do that at all Because the ERP and EHR market is almost entirely dominated by SAP and Epic. Frankly, the Cerner bet was already a bad bet when they took it in the early 2020s as was NetSuite to a certain extent. No business has an obligation to hire you in perpetuity. Similarly, you have no obligation to remain at a company you don't like. > Although... >> All of this is happen…

> I work in this industry and once you remove the AI washing, much of Oracle's current strategy is around building a hyperscaler business that is comparable to GCP and Azure in size. Already over the past 2 years I've seen 2 fortune 500s completely shift off AWS or Azure to Oracle Cloud because of better terms and strategic hires by Oracle Cloud.

Okay, understood. I work in entirely different field, so that's not my main speciality, to be honest. Thanks for explanation : )

Re: Oracle slashes 30k jobs

#140
So Ellison's big investors wouldn't back his ridiculous (-Disney) Warner Bros bid without him juicing the performance of Oracle in this way?

(thanks for the reply correcting the company)

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