I have no idea whether he said that but it reminds me of something. I'm rewatching (by which I mean "playing in the background while I do other stuff") the HBO show "Silicon Valley" and it literally has this in it.
> Goodbyes are always hard, especially when I am the one saying goodbye. Today, effective immediately, I, Gavin Belson, founder and CEO of Hooli, am forced to officially say goodbye...to the entire Nucleus division.
> But make no mistake, though they are the ones leaving, it is I who must remain and bear the heavy burden of their failure. It is my fault, I trusted them to get the job done, but that is the price of leadership.
All true...been a huge fan since it originally aired. I was about the same age as the characters and doing the same work and got all the references and loved every minute of that show but looking back now overall I only feel regret for not buying BC when I saw this scene:
https://www.youtube.com/watch?v=uS1KcjkWdoU
I dunno what you expect, everyone wants to avoid the negative consequences of their actions, should we be surprised that the rich and powerful can actually do it?
If you hire a house cleaner, and the house cleaner doesn't do a good job, would you fire yourself from the house? What repercussions will you personally suffer?
A closer analogy would be that you asked the house cleaner to clean the pool house when you actually needed the main house cleaned. The house cleaner recognized that you asked for the wrong area to be cleaned, but went ahead and did it anyway, but did a great job cleaning the wrong thing.
The cleaner isn't the problem with respect to the cleaning itself, but what about the culpability in exploiting someone who has lost their mind? In this case Zuckerberg is willing to accept the exploitation that occurred in the past simply for what it is, but now that he has had a moment of clarity he also cannot let it continue.
It is irrelevant if the workers did a good job. They are at the service and discretion of the house. The house, i.e. the owner, always remains. Until everything burns down. In case of Meta, pipe-dream, one can only hope.
Is he going to pay the severances out of pocket? Is he going to personally help those employees get back on their feet? Is he going to make sure their families are ok? Is he stepping down?
What does it look like besides cheap talk from a cheap and clueless leader?
The guy is just another mediocrity who tripped into a huge pile of money and now it’s everyone’s problem while he acts as a giant baby.
I think you're more upset about this than the typical Meta employee. Judging by... vibes, the main reason they aren't taking volunteers for these layoffs is that they might get more than 10% champing at the bit to take the severance.
The 2022 RSUs at Meta have more than doubled since the grant price, and are mostly vested out now, ending Feb 2027, after which there will be a steep TC decline for people employed since 2022, especially those on an initial grant or with very good performance for that refresher. There are a good portion of people sitting on either FIRE or at least extended funemployment amounts of money that the severance is looking mighty tempting to.
He is not putting the shares down himself. He is just subject to price fluctuations like everyone else — so how is he taking personal responsibility for it?
I have no idea whether he said that but it reminds me of something. I'm rewatching (by which I mean "playing in the background while I do other stuff") the HBO show "Silicon Valley" and it literally has this in it.
> Goodbyes are always hard, especially when I am the one saying goodbye. Today, effective immediately, I, Gavin Belson, founder and CEO of Hooli, am forced to officially say goodbye...to the entire Nucleus division.
> But make no mistake, though they are the ones leaving, it is I who must remain and bear the heavy burden of their failure. It is my fault, I trusted them to get the job done, but that is the price of leadership.
Mike Judge is a masterful satirist.
All true...been a huge fan since it originally aired. I was about the same age as the characters and doing the same work and got all the references and loved every minute of that show but looking back now overall I only feel regret for not buying BC when I saw this scene: https://www.youtube.com/watch?v=uS1KcjkWdoU
Taking responsibility doesn't mean paying people to do nothing.
So what does it mean, concretely? What repercussions will he personally suffer?
People will snark him 30% harder for a week.
I dunno what you expect, everyone wants to avoid the negative consequences of their actions, should we be surprised that the rich and powerful can actually do it?
No one is surprised, but why shouldn't it be called out and ridiculed as fake accountability and moral theater.
If you hire a house cleaner, and the house cleaner doesn't do a good job, would you fire yourself from the house? What repercussions will you personally suffer?
If I had a roommate who spent huge swaths of our monthly budget on house cleaning we didn't need, I might tell them to go find another place to live.
Or to stop stretching metaphors.. The investors should be mad that the layoffs were even necessary.
Are you implying the 10% being fired are all bad workers? What if the house cleaner was not the problem here?
A closer analogy would be that you asked the house cleaner to clean the pool house when you actually needed the main house cleaned. The house cleaner recognized that you asked for the wrong area to be cleaned, but went ahead and did it anyway, but did a great job cleaning the wrong thing.
The cleaner isn't the problem with respect to the cleaning itself, but what about the culpability in exploiting someone who has lost their mind? In this case Zuckerberg is willing to accept the exploitation that occurred in the past simply for what it is, but now that he has had a moment of clarity he also cannot let it continue.
It is irrelevant if the workers did a good job. They are at the service and discretion of the house. The house, i.e. the owner, always remains. Until everything burns down. In case of Meta, pipe-dream, one can only hope.
[dead]
Is he going to pay the severances out of pocket? Is he going to personally help those employees get back on their feet? Is he going to make sure their families are ok? Is he stepping down?
What does it look like besides cheap talk from a cheap and clueless leader?
The guy is just another mediocrity who tripped into a huge pile of money and now it’s everyone’s problem while he acts as a giant baby.
I think you're more upset about this than the typical Meta employee. Judging by... vibes, the main reason they aren't taking volunteers for these layoffs is that they might get more than 10% champing at the bit to take the severance.
The 2022 RSUs at Meta have more than doubled since the grant price, and are mostly vested out now, ending Feb 2027, after which there will be a steep TC decline for people employed since 2022, especially those on an initial grant or with very good performance for that refresher. There are a good portion of people sitting on either FIRE or at least extended funemployment amounts of money that the severance is looking mighty tempting to.
>provide severance packages for those in the United States that include “16 weeks of base pay plus two weeks for every year of employment”
That is a standard package and no way a FIRE or at least extended funemployment if they have children or a mortgage.
But crazy level of sycophancy on your part
The money comes from the past few years of the stock going from 180 to 500-700, not from the severance.
E5s making $900k, $E6s making 1.5m… quite common.
> Is he going to pay the severances out of pocket?
More or less? The vast majority of his personal net worth is tied up in FB stock.
As to the other questions -- the severance package is pretty generous.
He is not putting the shares down himself. He is just subject to price fluctuations like everyone else — so how is he taking personal responsibility for it?