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Twitch.tv Lays of 400 Employees

blog.twitch.tv

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Re: Twitch.tv Lays of 400 Employees

#151

Post by wombatpm »

kibwen wrote: post #104
lanza wrote: post #89

Earlier quoted context omitted.

> Wait, I thought revenue was growing! How is that not sustainable? If you just leave costs where they are and let revenue grow, you are by definition sustaining/growing the bottom line. Come on man, if you don't understand how a business can be showing signs of unhealthiness while still increasing revenue then don't post. That's such a trivial superficial analysis of reality. I'm not going to pretend to know or unde…

We should be holding the president of a multi-billion dollar corporation to a higher standard than a random HN commenter. If Dan Clancy wants to lie to our faces with this egregiously milquetoast corpo-speak, he does not deserve serious or good faith analysis of his words. He's bullshitting us, plain and simple, and I see no reason to smile, lick my lips, and ask politely for seconds.

I propose a weekly lottery. Each week we select 1 billionaire and one person making less than 50k. The peasant gets a gun, 1 bullet, and a free shot from 30ft. Lottery continues until the social contract is restored.

There was a time when corporations had principles ahead of maximizing stock holder value. Maybe we should re-examine that.

Re: Twitch.tv Lays of 400 Employees

#152

Post by slg »

Supermancho wrote: post #143
slg wrote: post #35

Earlier quoted context omitted.

>Because the economy sucks in general But to be clear the economy does not currently "suck in general" hence the confusion over blaming "the current macroeconomic environment". These companies (including advertisers) are trying to get out in front of an economic downturn that hasn't yet materialized. And if it does materialize, all these companies will have a hand in causing it due to their reduced spending and layof…

> But to be clear the economy does not currently "suck in general" To be clear, what you say has little effect on reality. The decreased discretionary spending, housing market approaching a complete freeze, layoffs (those not being publicized in the news), inflation impacting every vertical, and the various shuttering businesses (survived covid, but died anyway), are what makes it "suck". This is not quantitative, bu…

>This is not quantitative, but it is the sentiment.

I'm looking forward to our first "just bad vibes" recession in which all the quantitative numbers behind what you describe are mostly fine, but we are just going to "sentiment" ourselves into a recession anyway.

Re: Twitch.tv Lays of 400 Employees

#153

Post by hossbeast »

wombatpm wrote: post #151
kibwen wrote: post #104

Earlier quoted context omitted.

We should be holding the president of a multi-billion dollar corporation to a higher standard than a random HN commenter. If Dan Clancy wants to lie to our faces with this egregiously milquetoast corpo-speak, he does not deserve serious or good faith analysis of his words. He's bullshitting us, plain and simple, and I see no reason to smile, lick my lips, and ask politely for seconds.

I propose a weekly lottery. Each week we select 1 billionaire and one person making less than 50k. The peasant gets a gun, 1 bullet, and a free shot from 30ft. Lottery continues until the social contract is restored. There was a time when corporations had principles ahead of maximizing stock holder value. Maybe we should re-examine that.

Which principles would you like the companies that you are invested in to maximize ahead of stockholder value?

Re: Twitch.tv Lays of 400 Employees

#154

Post by camhart »

ilyt wrote: post #101
lanza wrote: post #89

Earlier quoted context omitted.

> Wait, I thought revenue was growing! How is that not sustainable? If you just leave costs where they are and let revenue grow, you are by definition sustaining/growing the bottom line. Come on man, if you don't understand how a business can be showing signs of unhealthiness while still increasing revenue then don't post. That's such a trivial superficial analysis of reality. I'm not going to pretend to know or unde…

Or, the investors want their returns. If you don't understand how perfectly healthy business can be gutted just because investors want better number on next year's sheets and don't care about long term then don't post.

I just want to say, investors getting returns should be a goal of every for profit company (whos taken investor $$). Thats why investors risk their capital. That capital is responsible for the growth of most major tech companies. Its responsible for most jobs at tech companies.

Not saying this is an excuse to treat employees poorly. They're just as vital as the capital (employee hours is often quite literally whats bought with the capital). But I get tired of hearing only poo poo being thrown on investors.

Re: Twitch.tv Lays of 400 Employees

#155

Post by marcosdumay »

geodel wrote: post #111
kibwen wrote: post #104

Earlier quoted context omitted.

We should be holding the president of a multi-billion dollar corporation to a higher standard than a random HN commenter. If Dan Clancy wants to lie to our faces with this egregiously milquetoast corpo-speak, he does not deserve serious or good faith analysis of his words. He's bullshitting us, plain and simple, and I see no reason to smile, lick my lips, and ask politely for seconds.

Huh. If multi-billion dollar corporation executive is not going to do a corpo-speak, I don't really know who is supposed to be doing that.

Hum... This one is easy to answer. Nobody is supposed to be doing that.

The entire thing is a non-statement (I dunno about the GP's accusation of lying; you can't lie if you don't say anything), so it should be one small paragraph. Or, two, if you want to say you are sorry for both employees and customers.

Nobody gains anything by the chatGPT-like decompresion of the message.

Re: Twitch.tv Lays of 400 Employees

#156

Post by wombatpm »

sberens wrote: post #99
ryandrake wrote: post #69

Earlier quoted context omitted.

So why didn't they do it a year ago? Or two years ago, or three? It would have increased profitability at that time, too. How did dozens of already-profitable companies all suddenly decide together to cut costs within 6 months of each other? I wish they would be more specific than the "macroeconomic environment" excuse. I swear these CEOs are like soccer players running around the pitch, just waiting for Mister Macro…

> It would have increased profitability at that time, too. Not necessarily. The profit(headcount) function generally varies over time.

And you can’t fire all of the engineers and replace them HR drones and expect to maintain the revenues and profits. Under you theory, companies should start laying off at the top and work down until the proper $/person metric is obtained

Re: Twitch.tv Lays of 400 Employees

#157

Post by arrty88 »

ryandrake wrote: post #58

> Like many companies, our business has been impacted by the current macroeconomic environment, and user and revenue growth has not kept pace with our expectations. In order to run our business sustainably, we’ve made the very difficult decision to shrink the size of our workforce. Let's just take a moment to admire this paragraph. > "our business has been impacted by the current macroeconomic environment" There's th…

They were staffed for 10x and only seeing 2x. Probably shutting down a lot of growth projects that aren’t showing promise.

Re: Twitch.tv Lays of 400 Employees

#158

Post by [deleted] »

marcosdumay wrote: post #155
geodel wrote: post #111

Earlier quoted context omitted.

Huh. If multi-billion dollar corporation executive is not going to do a corpo-speak, I don't really know who is supposed to be doing that.

Hum... This one is easy to answer. Nobody is supposed to be doing that. The entire thing is a non-statement (I dunno about the GP's accusation of lying; you can't lie if you don't say anything), so it should be one small paragraph. Or, two, if you want to say you are sorry for both employees and customers. Nobody gains anything by the chatGPT-like decompresion of the message.

[deleted]

Re: Twitch.tv Lays of 400 Employees

#159

Post by [deleted] »

marcosdumay wrote: post #155
geodel wrote: post #111

Earlier quoted context omitted.

Huh. If multi-billion dollar corporation executive is not going to do a corpo-speak, I don't really know who is supposed to be doing that.

Hum... This one is easy to answer. Nobody is supposed to be doing that. The entire thing is a non-statement (I dunno about the GP's accusation of lying; you can't lie if you don't say anything), so it should be one small paragraph. Or, two, if you want to say you are sorry for both employees and customers. Nobody gains anything by the chatGPT-like decompresion of the message.

[deleted]

Re: Twitch.tv Lays of 400 Employees

#160

Post by marcosdumay »

runnerup wrote: post #9
vkou wrote: post #4

Earlier quoted context omitted.

The macroeconomic trend is 'the stock price went down because the fed stopped printing money'.

I don’t understand how this is affecting AMZN’s cash flow though. Seems like both their costs and revenues would scale similarly with inflationary effects, leaving a similar profit margin %.

Executives remuneration is often linked to the stock price. So if the price goes down, executives gain less.

If they can keep the price higher for a while longer, they get time to ensure their income and jump ship safely.

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