191–200 of 564 posts
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I'm sorry you're going through this. I don't know what your position is but I may be able to help you with the "finding a new job" part of your anxiety. Please feel free to reach out to me on twitter @devetorecruiter. Good luck with everything!
thank you. can my wife's boyfriend contact you too? he is part of the layoff as well.
In all seriousness good luck going forward.
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>HOLY CRAP. How is this even legal??? You missed the tweet directly under it: > Therefore, we made sure to give every employee ample time to read about the pros and cons of this decision, including learning about all the risks in the business, and we gave every employee a $300 stipend to consult a financial advisor during the implementation process. I understand making things illegal to protect people from being swin…
It’s kind of different when that decision is saying to your boss “Naww, I don’t think I’m going to take the offer that the CEO was bragging about on Twitter. I guess I just don’t believe in the company enough.” It may not be perfectly valid, but it’s very easy to see how someone could feel like they didn’t really have a choice if they didn’t want to sabotage their position and future at the company.
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I'm sorry you're going through this. I don't know what your position is but I may be able to help you with the "finding a new job" part of your anxiety. Please feel free to reach out to me on twitter @devetorecruiter. Good luck with everything!
thank you. can my wife's boyfriend contact you too? he is part of the layoff as well.
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> 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???
>HOLY CRAP. How is this even legal??? You missed the tweet directly under it: > Therefore, we made sure to give every employee ample time to read about the pros and cons of this decision, including learning about all the risks in the business, and we gave every employee a $300 stipend to consult a financial advisor during the implementation process. I understand making things illegal to protect people from being swin…
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"Pre-profit companies" LOL. So that's what they're calling them nowadays? Talk about euphemisms...
Why is it a euphemism? Delaying profits as a primary objective has been a common startup strategy for decades.
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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.
Thanks to him, I think he's a little bit unstable. His rants are a out there for sure.
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You don't need an excuse, but if you have one then management can save face. The theory would be it's a lot harder to hire people in the future if everyone thinks you're bad at management, and much easier if everyone just thinks you got unlucky with market timing.
Came here to say this, it's one of the first things I investigate about a company. If the company does habitual layoffs or has done rather large ones in the past five years, I'll move on 90% of the time.
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You don't need an excuse, but if you have one then management can save face. The theory would be it's a lot harder to hire people in the future if everyone thinks you're bad at management, and much easier if everyone just thinks you got unlucky with market timing.
Came here to say this, it's one of the first things I investigate about a company. If the company does habitual layoffs or has done rather large ones in the past five years, I'll move on 90% of the time.
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they raised $355M this year and like $600M last year https://www.crunchbase.com/organization/bolt-5/company_finan... how can a company burn money that quickly so they end up with only 12-18 months of runway?
I shaved a bit off our AWS bill and my CFO at the time asked if it was worth my time. I asked him if he knew how you get a huge AWS bill with no idea how to fix? A little bit at a time. People get lazy because things seem good and let questionable hires and other expenses slide by because why not, there's plenty of money.
But that doesn't answer his question. Was it worth it?
You get tech debt a little at a time, but it can be hugely valuable to leverage it for growth.
Rumors going around on blind (posted by bolt employees) that over the course of a few rounds of layoffs it will be 30-50% of the total workforce. A lot of the initial layoff are software engineers. Apparently they only have 12-18 months of runway, and need to effectively double that. Current revenue is 40M. I guess this is the beginning of the tech washout. clings to large tech company job EDIT: 33% layoff today
they raised $355M this year and like $600M last year https://www.crunchbase.com/organization/bolt-5/company_finan... how can a company burn money that quickly so they end up with only 12-18 months of runway?