481–490 of 509 posts
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17% of stocks != 17% of voting rights. I don't know the current numbers, but Zuck was known for aggressive use of priority shares to retain voting control of the company as he was selling shares.
>17% of stocks != 17% of voting rights Stock classes are the biggest robbery of modern times.
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He is blaming the economy and employees, when in fact the product itself is dying. Lots of CEOs with bad businesses will play this card to avoid responsibility...
I keep asking people if they know anybody excited about the metaverse. I have not found any even among people who are total Facebook products.
There are people that are willing to zap their eyes with laser only to not wear their glasses that actually allow them to see.
People literally hate putting things on their face/head that restricts what they can see. Maybe because I would fell too vurnable without ability to check what's happening around me.
Now sell them glasses/vr headset that are even less useful. And way heavier.
Or how successful 3d glasses were with 3d tvs or before that colored 3d glasses or even IMAX with their 3D(watched on movie there, not worth the price). Or fact that Nintendo made their 3d work without glasses and then started selling 2d version of that handheld and then forget about 3d in their later products.
Even cyberpunk ability to jack in would be useful to me only when I were still able to use my eyes(or implants) while controlling a device.
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A wise CEO doesn't bypass the product and engineering process he's delegated to be put in place. Bypasing the process not only interferes with someones sprint and product roadmap, but more importantly, tells the people who own the process that they don't really own it after all. Which leads to people quitting.
If the CEO of my company prodded me about a feature I work on, I think that's actually a great opportunity to build rapport.
If they want a change made that's basically a completely trivial detail that was already within my ability to have done when I was doing the work (e.g. just putting some padding that just felt about right), then sure, I guess. Not sure it's actually important, but whatever.
If it will go against other work (e.g. the padding comes from some central styling rules), entails substantial off-route work, or adds future maintenance debt or project risk, it should go via the product manager if there is one. A good CEO knows not to preempt the people who decide how the product works, what it needs to do and how the team(s) are going to get there. He should also know that product will consider a valid suggestion (and he should know if they're so slammed that they can't even think about it, in which case he can help in other ways than moaning about padding).
In this case it sounds like Zuckerberg is bikeshedding over something trivial (doesn't get much more trivial than padding on a specific button) just to swing his dick about. If he has something insightful to say about the business logic, that would actually show engagement and understanding.
Interesting quote from CEO in an all hands directly to employees. I don't want to be at Meta right now.. .."turning up the heat" on performance management to weed out staffers unable to meet more aggressive goals. "Realistically, there are probably a bunch of people at the company who shouldn't be here," Zuckerberg said. "Part of my hope by raising expectations and having more aggressive goals, and just kind of turni…
>"Part of my hope by raising expectations and having more aggressive goals, and just kind of turning up the heat a little bit, is that I think some of you might decide that this place isn't for you, and that self-selection is OK with me," he said. This, to me, sounds like he's pressuring people to leave, so that they don't have to fire them, which would involve severance.
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I have no faith that Facebook knows what it’s doing, but I need to point out that COVID is going to absolute cripple the population if we don’t all learn to get virtual for anything truly optional real quick. And if it does cripple the population, a lot of stuff will have to be virtual to be attended at all.
Most of Europe and the America's are winding down lockdown measures. mRNA vaccines are highly effective. if you try to book a plane or concert ticket you'll see that people are racing to get out of their homes after 2+ years.
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Hardly. Top talent is first to leave as a firm's fortunes turn. (FB's fortunes turned a while ago.)
(Obviously it doesn't actually imply that, but it'll feel like that if you're there and hear that, especially if you already had non-zero imposter syndrome. Point is, it's an exceptionally shitty way to treat employees.)
But again, clue flees first.
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It’s fun and juicy to read leaks from other companies but it really sucks when your leadership stops being open or stops taking questions in all hands meetings because everything they say immediately gets posted on Twitter. Just because you’d like to know the information about the on-goings of a company doesn’t make you entitled to it and I wish large companies would collectively do more to go after leakers in court…
How did you get to the conclusion that anyone thinks they’re entitled to that information? Of course nobody is. But that doesn’t change the fact that it’s this information is useful for outsiders, not a disservice. As for wanting leakers to be dragged into court… Are you saying, for example, that Amazon warehouse workers should not be allowed to expose terrible working conditions? Or pretty much any other unethical a…
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Blood in the water. Might be a good time to start a new social network. A simple blue interface that doesn't have all of the clutter and noise of Mybook. We can launch at universities first, invite-only.
Whatever comes to replace Facebook I really hope it is a distributed system that doesn't have a single unique owner. And that monetization is not done through advertising. The problem with Friendster, MySpace and then Facebook was their centralized nature. It sucks to produce/place your content in a place you have to pay for.
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Not really. Business cycles exist and advertisement is extremely cyclical. Labour demand isn't fixed. Sometimes you have to cut not because you over hired, but because economic conditions change and this seems to be what's happening in regards to Facebook. I don't think he's blaming anyone either. The fact he's acknowledging there are probably people working at FB who shouldn't be suggests you're wrong and that for y…
Returning to contract law; the employment agreement is a contract engaged by two or more parties to exchange labor for money (or a basket of financial incentives including money, in part). In virtually every instance, Meta proffered the employment contract and its provisions, vetted the counter party, and gave assent to enter into contract. Arguably, “there are probably a bunch of people at the company who shouldn't…
People change, employ motivation levels wane, especially when a chunk of your employees are millionaires. Lots of folks who want to rest and vest- this announcement is aimed at getting those people to fire back up to higher productivity, or to take a different job they are passionate about.