Earlier quoted context omitted.
The funny thing is that sharks are more likely to be eaten by dolphins (especially orcas) than vice versa. And sharks also get caught in nets. https://www.nationalgeographic.com/animals/article/killer-wh... I guess Garg is just as weak on marine biology as he is on leadership and business ethics.
Not to fixate but this is kinda interesting to me. I very much believe orcas will kill and eat sharks, but dolphins do too? I didn’t see a mention of it on the article.
Better.com CEO fires 900 employees on Zoom call
471–480 of 480 posts
Re: Better.com CEO fires 900 employees on Zoom call
#472I know this sounds horrible but in the days of covid and working from home, what are companies supposed to do if they have to lay off large amounts of people? Make them all risk their health to come to an in-person event, only to be fired? Drive to every employee's house to fire them in person? It obviously sucks but I don't see how, in 2021, this is any different from the kind of thing that would happen all the time…
As others have pointed out, the Zoom part isn't the big problem here. The delivery is. Just for starters, within under a minute he's made the whole thing about him. Comments like, "Last time I cried," and, "I hope I'll be stronger this time," are grossly inappropriate. Nobody gives a shit how he feels, nor should they. This isn't hard for him, it's hard for the people he's firing. He shows a complete lack of respect…
Re: Better.com CEO fires 900 employees on Zoom call
#473Earlier quoted context omitted.
As others have pointed out, the Zoom part isn't the big problem here. The delivery is. Just for starters, within under a minute he's made the whole thing about him. Comments like, "Last time I cried," and, "I hope I'll be stronger this time," are grossly inappropriate. Nobody gives a shit how he feels, nor should they. This isn't hard for him, it's hard for the people he's firing. He shows a complete lack of respect…
This guy is a narcissistic asshat of the lowest calibre when you look at his online presence. This is entirely in character for him.
Re: Better.com CEO fires 900 employees on Zoom call
#474Looks like a new B2B / SaaS pivot
“This is exactly the time for us to lean in and accelerate our customer-focused product innovation, and grow our B2B business, which we believe provides us with greater defensibility in a tougher mortgage market,” said Better CEO, Vishal Garg
Re: Better.com CEO fires 900 employees on Zoom call
#475Re: Better.com CEO fires 900 employees on Zoom call
#476Earlier quoted context omitted.
Better.com CEO Threatened to Burn His Business Partner Alive. Now He’s a Billionaire. Last fall, employees at one of America’s fastest-growing startups began making anxious phone calls. They believed that CEO Vishal Garg—a volatile entrepreneur with a history of disgruntled business partners—had been giving huge amounts of equity... https://www.thedailybeast.com/bettercom-ceo-vishal-garg-thre...
Nice, when we started playing with some financial engineering we also noticed that vesting could be any unit of time. So we did grants with super low cost basis (it was very early there was nobody else to placate), and the recipients did 83(b) elections to recognize the income at the low cost basis, so when they exercised at fair market value soon after it wouldnt be income at that point in time, only capital gains w…
Pretty sure it was the threatening someone to burn them alive
Re: Better.com CEO fires 900 employees on Zoom call
#477Earlier quoted context omitted.
Nice, when we started playing with some financial engineering we also noticed that vesting could be any unit of time. So we did grants with super low cost basis (it was very early there was nobody else to placate), and the recipients did 83(b) elections to recognize the income at the low cost basis, so when they exercised at fair market value soon after it wouldnt be income at that point in time, only capital gains w…
I don't think that was the point of the linked article Pretty sure it was the threatening someone to burn them alive
it also presented the shareholdings and the compliant ways of transferring consolidated ownership in a negative light
Re: Better.com CEO fires 900 employees on Zoom call
#478Earlier quoted context omitted.
Not to fixate but this is kinda interesting to me. I very much believe orcas will kill and eat sharks, but dolphins do too? I didn’t see a mention of it on the article.
Orcas are large dolphins.
Re: Better.com CEO fires 900 employees on Zoom call
#479Earlier quoted context omitted.
This was done at my previous company near the beginning of the pandemic, where half of the company (about 1200 people) were laid off, entirely with one-on-one calls. It worked well and I appreciated it personally.
But the anxiety of waiting all day, as you watch your coworkers slowly drop, and send their farewell emails... wondering if you'll be next... I'd rather find out all at once.