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Startup valued at $7B gets flack as CEO lays off 900 employees over Zoom - Tech Mortgage Company | |
Swingline Forum Moderator  User ID: 78291643  United States12/06/2021 09:58 AM  Report Abusive Post Report Copyright Violation | |
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| Anonymous Coward User ID: 81447633 12/06/2021 10:14 AM Report Abusive Post Report Copyright Violation | Re: Startup valued at $7B gets flack as CEO lays off 900 employees over Zoom - Tech Mortgage Company This is the z!0 world your living in. It’s all a facade with no real monetary value, yet Forbes puts out misleading information because it’s all insiders giving each other reach arounds and leading you all astray. Once the shell, front company has been given the huge loan, they just dump it, take the money and disappear. Your capitalist system is just bank sponsored usury. |
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| Anonymous Coward User ID: 76626437 United States12/06/2021 10:34 AM Report Abusive Post Report Copyright Violation | Re: Startup valued at $7B gets flack as CEO lays off 900 employees over Zoom - Tech Mortgage Company This is the z!0 world your living in. Quoting: Anonymous Coward 81447633 It’s all a facade with no real monetary value, yet Forbes puts out misleading information because it’s all insiders giving each other reach arounds and leading you all astray. Once the shell, front company has been given the huge loan, they just dump it, take the money and disappear. Your capitalist system is just bank sponsored usury. It isn't the system itself, it's the morality of those running it. Any system imagined can work or fail. What matters is the morality and the priorities of those managing it. Capitalism is a theory, as are other economic theory models And they will cause as much success or failure as the operating morality affords them. Don't confuse economic theory with ethics, they're two separate issues and trying to imagine any intrinsic value system in connection of them is wrong. The real problem with idealizing or demonizing any theory is the human wild card and the ethics of those on the top. If you dont understand how culture and morality impact economics you must keep your fool mouth shut until you learn that any design can be significantly fucked up and made dysfunctional by its implementation. |
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| Anonymous Coward User ID: 81421326  United Kingdom12/06/2021 11:01 AM Report Abusive Post Report Copyright Violation | Re: Startup valued at $7B gets flack as CEO lays off 900 employees over Zoom - Tech Mortgage Company So a mostly online company who employs remote workers probably based out of their own home using the Internet, cell phone and cell phone apps, people get fired by Gig economy technology. What else do people expect, an in-person visit cup of Starbucks and a doughnut. We're talking about youngsters who've known no different than Email, Facebook, instant messaging and remote technology. Sucks, but they are not employees with 20 years loyal service turning up at an office / factory / retail outlet etc. putting in a 10 hour shift 5 days a week. |
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| Swingline (OP) Forum Moderator User ID: 78291643 United States12/06/2021 12:14 PM Report Abusive Post Report Copyright Violation | Re: Startup valued at $7B gets flack as CEO lays off 900 employees over Zoom - Tech Mortgage Company yeah, I'd like to see the racial makeup of the call versus the company. Indian CEO... Here is the LinkedIn breakdown: [link to www.linkedin.com (secure)] “I’m the wall that progress ran into" |
| Swingline (OP) Forum Moderator User ID: 78291643 United States12/06/2021 12:16 PM Report Abusive Post Report Copyright Violation | |
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| Anonymous Coward User ID: 80942812  Canada12/06/2021 12:38 PM Report Abusive Post Report Copyright Violation | Re: Startup valued at $7B gets flack as CEO lays off 900 employees over Zoom - Tech Mortgage Company Just days after receiving a $750 million cash infusion, a tech startup that Forbes branded in October as a “unicorn,” valued at $7 billion, laid off hundreds of employees in a manner that some online deemed “brutal.” Quoting: Swingline Better.com, a digital mortgage lender with offices in Oakland, laid off 900 employees weeks before Christmas on a mass Zoom call. Only those being laid off were invited. It is a stark tidal shift for the company, which announced it was going public earlier this year. “I come to you with not great news,” CEO Vishal Garg said in the video, which has since circulated on TikTok and YouTube. “The market has changed, as you know, and we have to move with it in order to survive.” “If you’re on this call, you are part of the unlucky group that is being laid off,” Garg said, citing “market efficiency, performances, productivity” among the reasons for the layoffs. CEO video at the link [link to www.sfgate.com (secure)] funny he didn't mention politics? isn't politics at the root of all corporate moves? |
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| Anonymous Coward User ID: 12762317 United States12/06/2021 12:42 PM Report Abusive Post Report Copyright Violation | Re: Startup valued at $7B gets flack as CEO lays off 900 employees over Zoom - Tech Mortgage Company This is the z!0 world your living in. Quoting: Anonymous Coward 81447633 It’s all a facade with no real monetary value, yet Forbes puts out misleading information because it’s all insiders giving each other reach arounds and leading you all astray. Once the shell, front company has been given the huge loan, they just dump it, take the money and disappear. Your capitalist system is just bank sponsored usury. Tulip Craze. Just like the 1999-2001 period of ridiculous tech startup valuations, VC's and executives cash out then crash the companies into the ground. "Unicorns" that have $20B+ valuations but bleed cash every quarter... crazy stuff. |
| Anonymous Coward User ID: 81448302 United States12/06/2021 12:44 PM Report Abusive Post Report Copyright Violation | Re: Startup valued at $7B gets flack as CEO lays off 900 employees over Zoom - Tech Mortgage Company Looks like the books were cooked. Valued at 7B? Bwahaha, like shit companies valued at hundreds of millions out the gate during the .com bubble.... The cash infusion either came with strings, or they were bleeding out the ass on revenue... |
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| Let'sgoBrandon User ID: 78117982 United States12/06/2021 12:54 PM Report Abusive Post Report Copyright Violation | Re: Startup valued at $7B gets flack as CEO lays off 900 employees over Zoom - Tech Mortgage Company This is the z!0 world your living in. Quoting: Anonymous Coward 81447633 It’s all a facade with no real monetary value, yet Forbes puts out misleading information because it’s all insiders giving each other reach arounds and leading you all astray. Once the shell, front company has been given the huge loan, they just dump it, take the money and disappear. Your capitalist system is just bank sponsored usury. It isn't the system itself, it's the morality of those running it. Any system imagined can work or fail. What matters is the morality and the priorities of those managing it. Capitalism is a theory, as are other economic theory models And they will cause as much success or failure as the operating morality affords them. Don't confuse economic theory with ethics, they're two separate issues and trying to imagine any intrinsic value system in connection of them is wrong. The real problem with idealizing or demonizing any theory is the human wild card and the ethics of those on the top. If you dont understand how culture and morality impact economics you must keep your fool mouth shut until you learn that any design can be significantly fucked up and made dysfunctional by its implementation. I have been saying precisely the same for years. Diversity or Culture? You chose poorly... |
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