i’m sorry to put you through this tp

(http://www.autoadmit.com/thread.php?thread_id=5838716&forum_id=2Reputation#49697636)

Stock is up 20% on the news.

(http://www.autoadmit.com/thread.php?thread_id=5838716&forum_id=2Reputation#49697644)

i hate GC so much its unreal

(http://www.autoadmit.com/thread.php?thread_id=5838716&forum_id=2Reputation#49697643)

It's fascinating how Jews have created an entire ecosystem for their needs.

(http://www.autoadmit.com/thread.php?thread_id=5838716&forum_id=2Reputation#49697721)

Unwinding less than half an insane COVID overhiring binge has much more to do with Jack Dorsey's managerial incompetence than whether AI is going to take your job.

https://x.com/bamabonds/status/2027142091596288314?s=46&t=YKr-jZOYUHE15Tew69wt4w

Seems like this is another “say AI is the reason for layoffs even though it’s not” event. Jack Dorsey seems dumb.

(http://www.autoadmit.com/thread.php?thread_id=5838716&forum_id=2Reputation#49697794)

- TL:DR: Mostly about XYZ being poorly run. Not really about AI. But most other smidcap tech also poorly run. Expect many more cuts

- Below I tweeted that they only needed 60% of their company. That wasn’t a random number. Pull up any fintech/SaaS chart and you can see that employee count exploded when demand exploded in 2020. But now these companies are way too bloated

- But, fuck me. I did not expect them to cut 40% at once. I think it’s basically impossible to identify the right 40% in one go. So huge operational risk there. But maybe better for morale than multiple cuts. Who knows. Unprecedented. Fuckin a.

- We now have 2 examples of this happening with Jack, so it’s easy to say he runs a bad, bloated business. I have been vocal about this. Toast and Clover should not be anywhere near the scale they’re at. Tidal? Afterpay? Come on. Pretty sure he threw a $70M party for the team last year. There is a lot here that is just one bad management decision after another

- I *also* think it’s a mistake to define this as purely a “Jack” issue. As I said, pull up the employee charts and the revenue charts. I’d say to pull up the earnings charts but for many they are negative, which we all know. These companies are way too bloated. And they are having their clocks cleaned by smaller, more nimble startups. They have to get lean to survive. I think the realistic, average number is 20-25% for many of these companies. But there are plenty that could cut 40% too.

- I think this basically has nothing to do with AI. I bet there are some roles they can eliminate, and some where they can increase scope. Let’s call it 5%

---

I would expect they are cutting a fair number of every type of employee (including engineers), but the root cause of this is Jack's boneheaded move to basically create two companies inside of one. They just have way too many employees period relative to what's necessary

(http://www.autoadmit.com/thread.php?thread_id=5838716&forum_id=2Reputation#49699341)