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Describing it as a “party” feels misleading. It was a company-wide offsite for an essentially fully remote organization. Was it necessary? Probably not. But I found the in-person time valuable, especially with teammates I’d never met face to face. Source: I was there
Earlier quoted context omitted.
And was the in person time more valuable than not having those people you met in your team moving forward?
I will say, to his credit, he has tried to make it clear the cuts weren't about money but do to tech and organizational shifts. https://x.com/jack/status/2027129697092731343?s=20 He phrases it as due to redundant overhead for cashapp and square, plus a move to smaller, flatter teams as a result of AI. Not saying he's going to be right just that they're profitable and I believe this isn't a money thing.
What are you even talking about? Why does ANY business get rid of people? For funsies? X_X
Describing it as a “party” feels misleading. It was a company-wide offsite for an essentially fully remote organization. Was it necessary? Probably not. But I found the in-person time valuable, especially with teammates I’d never met face to face. Source: I was there
Were you laid off?
Earlier quoted context omitted.
I will say, to his credit, he has tried to make it clear the cuts weren't about money but do to tech and organizational shifts. https://x.com/jack/status/2027129697092731343?s=20 He phrases it as due to redundant overhead for cashapp and square, plus a move to smaller, flatter teams as a result of AI. Not saying he's going to be right just that they're profitable and I believe this isn't a money thing.
> I believe this isn't a money thing. What are you even talking about? Why does ANY business get rid of people? For funsies? X_X
Some people are negative value even if their salary was $0.
Describing it as a “party” feels misleading. It was a company-wide offsite for an essentially fully remote organization. Was it necessary? Probably not. But I found the in-person time valuable, especially with teammates I’d never met face to face. Source: I was there
You can call it a 'party' if you want, but a company-wide in-person event is a) valuable, and b) expensive. Calling an all-hands a party without any supporting evidence feels willfully negligent.
Food $200 Data $150 Rent $800 Party $68,000,000 Utility $150 someone who is good at the economy please help me budget this. my company is dying
haha my brain went like... "ok.. but was it a party for all 9,000 people?" "maybe they had great caterers" ... then I did the math. It's $7.5k per employee. Clearly I'm just not creative enough to know how to waste money like an SV company.
Earlier quoted context omitted.
That’s the mark-to-market change, no? Since they bought bitcoin while their stock was worth ~2-4x what it is today, I’d say the “arbitrage paper certificates for digital 1s and 0s” play worked out pretty well overall. Bought btc for $10k and $51k (about 60/40 respectively) and it’s trading for $65k 5 years later. Dunno what other buying/selling they may have done. From Wikipedia: > In October 2020, Square put approxi…
You have to compare it to what else they could have done with the money, such as investing in their own growth, or even giving it back to shareholders if they had no good ideas what to do with the money.
Dunno what better proxy I could use for how it would have went other than their actual stock price. Unless we are to think their next best idea that they didn’t invest in would have done better than all the other things they did invest in. But that’s very speculative.
Instead they got a blended 300% gain on btc.
Should have sold the entire company for cash and bought bitcoin at the timelines they did.