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Twitter’s mass layoffs have begun

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Re: Twitter’s mass layoffs have begun

#161
post #107
post #68

In four years Musk will be bored to death with Twitter and will sell it to private equity and the Saudis for $5 billion. At that point it will be mostly a platform for porn creators and crypto pumping, the only two verticals where Twitter seems to be actually growing lately.

Given that Twitter the company owes $12bn to Morgan Stanley, that will be a serious problem for them.

Meh, Morgan Stanley has had bigger losses. How much of it is actually their money anyway? My guess is the losses will be passed down to the individuals who gave MS the $$$. Morgan probably bundled it all up, made a nice fee, and passed it on to Musk.

Re: Twitter’s mass layoffs have begun

#162
post #89

Since apparently nobody else in the thread has any empathy for those who've lost their jobs, future access to healthcare (in the US and less civilized countries), and financial security, I guess I'll be the first: I feel bad for people who are laid off by the machinations of billionaires. I wish we lived in a society where it wasn't optimal to act like raving lunatics will tear down every bit of security you have at…

I must confess that I am finding it difficult to muster sympathy for them. And this coming from a man that despises Musk's behaviour, and wished he had been barred from buying Twitter. My reason being that during the pandemic, I repeatedly told people that my biggest fear was not the virus, but the economic collapse that would be the inevitable result of global lockdowns, and the authoritarian dystopia being shaped by the censorship of contrarian views. "First you are working from home, and then you are just... at home.", I said. And people who tried to share that view on Twitter where harassed and banned. Perhaps I will be proven wrong, and the economy will quickly rebound, who knows. But being gagged from even discussing the possibility of the events we now see unfolding, has left me with a bad taste in my mouth.

Watching twitter ban dissenting doctors and scientists reminded me of Hannah Arendt and the Eichman trial: "The most radical revolutionary will become a conservative the day after the revolution"

And this from a NYT movie review:

  "Arendt concluded that evil in the modern world is done neither by monsters nor by bureaucrats, but by joiners. That evil, Arendt argued, originates in the neediness of lonely, alienated bourgeois people who live lives so devoid of higher meaning that they give themselves fully to movements. It is the meaning Eichmann finds as part of the Nazi movement that leads him to do anything and sacrifice everything. Such joiners are not stupid; they are not robots. But they are thoughtless in the sense that they abandon their independence, their capacity to think for themselves, and instead commit themselves absolutely to the fictional truth of the movement."

Re: Twitter’s mass layoffs have begun

#163
post #89

Since apparently nobody else in the thread has any empathy for those who've lost their jobs, future access to healthcare (in the US and less civilized countries), and financial security, I guess I'll be the first: I feel bad for people who are laid off by the machinations of billionaires. I wish we lived in a society where it wasn't optimal to act like raving lunatics will tear down every bit of security you have at…

Even worse than that, immigration status. Getting laid off when on H1B, especially when other companies are freezing hiring and we are getting close to the holidays when everything takes longer is terrifying. You are on a clock for being simply kicked out of the country.

Re: Twitter’s mass layoffs have begun

#164
post #89

Since apparently nobody else in the thread has any empathy for those who've lost their jobs, future access to healthcare (in the US and less civilized countries), and financial security, I guess I'll be the first: I feel bad for people who are laid off by the machinations of billionaires. I wish we lived in a society where it wasn't optimal to act like raving lunatics will tear down every bit of security you have at…

> I feel bad for people who are laid off by the machinations of billionaires.

Do you have different feelings about people who are laid off by the machinations of centi-millionaires?

Re: Twitter’s mass layoffs have begun

#165
post #89

Since apparently nobody else in the thread has any empathy for those who've lost their jobs, future access to healthcare (in the US and less civilized countries), and financial security, I guess I'll be the first: I feel bad for people who are laid off by the machinations of billionaires. I wish we lived in a society where it wasn't optimal to act like raving lunatics will tear down every bit of security you have at…

The personal financial security shouldn't be provided by corporations, is your problem, so you should be the one who solve it, if you want financial security just make sure you are highly employable at any point. Most people fired from Twitter will find a new job without problem and if they can't, is their problem, not mine.

This is a very very naive take from someone who has no empathy and no understanding of macroeconomics.

In a down economy, human resources and artificially underutilized and many competent workers with solid financial discipline will still find themselves in financial trouble.

Re: Twitter’s mass layoffs have begun

#167
post #89

Since apparently nobody else in the thread has any empathy for those who've lost their jobs, future access to healthcare (in the US and less civilized countries), and financial security, I guess I'll be the first: I feel bad for people who are laid off by the machinations of billionaires. I wish we lived in a society where it wasn't optimal to act like raving lunatics will tear down every bit of security you have at…

I must confess that I am finding it difficult to muster sympathy for them. And this coming from a man that despises Musk's behaviour, and wished he had been barred from buying Twitter. My reason being that during the pandemic, I repeatedly told people that my biggest fear was not the virus, but the economic collapse that would be the inevitable result of global lockdowns, and the authoritarian dystopia being shaped b…

> First you are working from home, and then you are just... at home

Being at home seems indeed scary compared to dying in a hallway of an overloaded hospital

Re: Twitter’s mass layoffs have begun

#168
post #8

I'm pretty curious about how and where Twitter employees were distributed. For a company ostensibly worth $44 billion, having 7,500 staff feels pretty damn lean. It feels like Musk isn't just purging people, he's purging the Twitter culture...

we'll find out soon if Twitter really need 7500 employees. (IMO, i just don't see how and why you needs that many people to run Twitter)

I wonder does this number include moderators or are they contractors who are not included in the headcount. I could see half that number being made of moderators if so.

Re: Twitter’s mass layoffs have begun

#169
post #164
post #89

Since apparently nobody else in the thread has any empathy for those who've lost their jobs, future access to healthcare (in the US and less civilized countries), and financial security, I guess I'll be the first: I feel bad for people who are laid off by the machinations of billionaires. I wish we lived in a society where it wasn't optimal to act like raving lunatics will tear down every bit of security you have at…

> I feel bad for people who are laid off by the machinations of billionaires. Do you have different feelings about people who are laid off by the machinations of centi-millionaires?

Generally the centi-millionaires don't have a fan following cheering them on, so there's less of an opposing view to require a comment like the top level one to be made

Re: Twitter’s mass layoffs have begun

#170
post #63

> "Twitter’s newsletter service Revue will be shut down by the end of the year. Revue was acquired by Twitter in January 2021 for an undisclosed amount. The report also says that Notes, a longform posting feature, is on hold, as is Twitter’s plan to build crypto wallets." All these are look so distant to Twitter's core value.

Why do you think that? Twitter has tonnes of journalists who are running a substack or patreon, Revue would have let Twitter get in on that revenue stream. Building a tool for longer form content seems like a totally reasonable leap for twitter, and crypto - whilst a bit bullshitty - would be a fine way of moving payments into twitter which is another great monetization strategy. All of those projects seem reasonable extensions of Twitters core business.
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