551–560 of 852 posts
I used to be a big Musk fan. But the longer it gets, the more i start to dislike him. He starts turning into a Mad King
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Everything in life is tradeoffs. American software engineers get paid more than basically anyone else in the world, but we also have less job security. What's preferable just depends on your risk aversion vs marginal utility of money.
To offer a bit of counter-perspective, do keep in mind that while American SWEs do get paid more on the average, the costs of living in the US are also sky-high the areas where big software companies operate. Yes, in the EU I get paid a lot less, but the cost of living in Europe is also not nearly as expensive (although we also do pay more taxes). That's not even accounting for job security or workers rights, I seem…
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Stories like this make like the employee protection I enjoy even more.
TANSTAAFL. (There Ain't No Such Thing As A Free Lunch.) The downside of employee protections is that it makes companies more reluctant to hire. And also once hired, the salary to be offered is reduced to cover the estimated current value of the future employee protections. These are real downsides, particularly for young people who are trying to get a foot into the corporate ladder. I have even personally witnessed a…
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Taking a company private via LBO, firing a quarter of the staff so you can afford the debt payments, and then streamlining and flipping the profitable parts of the business is the classic corporate raid playbook. So far he's done the LBO part, and is apparently doing the layoff part. Of course, he's the richest person in the world and his finance partners are well connected Saudis, so there are obviously many plausib…
> streamlining and flipping the profitable parts of the business Good luck finding some at Twitter.
Twitter is already improved IMHO: The "sign in or sign up" nag screen is gone for me!
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The C suite has an incredible amount of influence to block a deal with a non-strategic acquirer like Elon. The threat of all executives resigning en masse can knee cap a business.
That's true, but it wasn't the question.
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/cries in an at-will state/
Fwiw all states are at-will, though there are varying exceptions from state to state.
So, it was a simple corporate raid after all. Welcome back to the 70s: energy markets problems, inflation, and now finally some good old corporate raiding with LBOs. PS. https://en.wikipedia.org/wiki/Corporate_raid
Elon wanted to back out and the executives finessed him masterfully. Everyone with vested shares is a recipient of a $44,000,000,000 cash infusion into the bay area economy, while media stupidly focuses on cliffs and parachutes that wont be paid.
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there's legislation around layoffs you can't handwave with "at will"
For the downvoters - google the WARN act