“…as we continue on our journey to decentralize and democratize commerce. ”
There’s some special irony in this statement as they attempt to achieve the holy grail network effect of being “the sole” 1-click checkout option!
Bolt announces layoffs
551–560 of 564 posts
Re: Bolt announces layoffs
#552Rumors 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
Large technology companies won’t hesitate to layoff employees to protect their stock price.
they don't need to layoff, just freeze the hires and wait for the churn
Re: Bolt announces layoffs
#553Earlier quoted context omitted.
Wow. After reading this I clicked on CEO Ryan Breslow's Twitter profile pic which is of him barefoot, wearing a psychedelic hoodie and sitting in a yoga position with his palms upturned. Between this loan idea, the self-reference to the 4 day work week and the yogi pose, it's like something straight out of HBO's "Silicon Valley."
Read that: https://www.forbes.com/sites/stevenbertoni/2022/04/04/meet-t... That's even beyond what the show depicted!
wow
Re: Bolt announces layoffs
#554[flagged]
they are all here downvoting you instead of working so
Re: Bolt announces layoffs
#555Re: Bolt announces layoffs
#556Earlier quoted context omitted.
I can't see why it should be illegal. People take on debt to buy assets all the time. But this is just so irresponsible and immoral; I really doubt the leadership is actually running a sustainable business; and I'm also starting to seriously doubt there was any credibility to the whole YC/Stripe boys club thing. 1. Ryan (was) the CEO, and can pressure employees to buy stock (or let them go because they aren't "commit…
"If leadership plays so fast and loose with other people's money, you have to question how well they are doing their job." Does that apply to Elon Musk as well? Leveraging Tesla to buy fucking Twitter when he could have had a strategic stake in Ford for less?
Why would he buy Ford when his goal is to free up Twitter more, which he has stated a few times?
Re: Bolt announces layoffs
#557Earlier quoted context omitted.
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.
That’s quite a stretch. They set up a plan you’d have to opt into. They don’t stand around waiting for a rationale from everyone who didn’t take them up on it. You still have your options so you’re not telegraphing a lack of faith in the company. It’s absurd to think management is going, “gee, Joe didn’t take this potentially risky option after the consultation. He’s not a team player.”
That is not at all a stretch and is slightly offensive that you used the word “stretch” here given what that word is supposed to mean. This is a perfectly valid concern where many people will be pressured into complying.
Re: Bolt announces layoffs
#558Earlier quoted context omitted.
Quoted post unavailable.
Which part is racist?
Re: Bolt announces layoffs
#559Earlier quoted context omitted.
I worked at a startup and the CEO was obsessed with hiring at all cost. We, engineers, were all wondering what the hell these new hires were supposed to do. We did not need them. Then they explained it to me. They needed to show growth through hiring in order to raise money. I mean, I couldn’t even blame them, if that’s a criteria for VC to hand you a check, well you gotta do what you gotta do. Needless to say this s…
My experience is that current investors want you to hire tons of people to shorten your runway so they can force you into another round where they can buy more shares and dilute the founders more.
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Re: Bolt announces layoffs
#560Earlier quoted context omitted.
That’s quite a stretch. They set up a plan you’d have to opt into. They don’t stand around waiting for a rationale from everyone who didn’t take them up on it. You still have your options so you’re not telegraphing a lack of faith in the company. It’s absurd to think management is going, “gee, Joe didn’t take this potentially risky option after the consultation. He’s not a team player.”
That is not at all a stretch and is slightly offensive that you used the word “stretch” here given what that word is supposed to mean. This is a perfectly valid concern where many people will be pressured into complying.
Except if you don’t take the loan, you are still betting big on the company by staying around for stock options. There is zero reason to think this shows lack of faith in the company. This is on the level of thinking you’re going to get fired if you don’t buy a red BMW because all the execs have red BMWs and got a local dealer to offer a good deal to all the employees.