jmanThis is capitalism… after a painful lay off of 12000 friends, the stock goes up significantly. Wall Street was demanding the lay offs, and Google executives had to do it. So sad!
Splicedwdm@jman As always, Capitalism is short-sighted. How will they buy your services if they don’t have income?
DoctorSynth@jman The Stock Market is without morals and should be abolished, as it promotes the BAD IDEA that making money is the most important purpose for a corporation. It's greed, all the way down. // The flipside? The smart and talented folks who were laid off may launch their own startups someday soon, bringing about more technological improvements to our lives.
@DoctorSynth I don't know if abolished, but definitely needs some serious reconfiguration. It provides important access to cash for companies that need it to grow, but also creates some perverse incentives that attract the worst of people
@jman I love capitalism. I like owning stuff. But just as any system, it could use some guardrails to prevent some people from running off with all the money / opportunity. In a world with so much excess, no one should go hungry.
Denny Vrandečić@jman they didn't have to.
@vrandecic It wasn't an option with Wall Street and fiduciary responsibility. Either Sundar executed on the lay offs or they would find a new CEO and tank the stock until it happened.
@jman Alphabet stock ownership is structured in a way that doesn't allow the wider shareholders to replace the CEO. All decisions are ultimately owned by Larry and Sergei.
@vrandecic but they don't set the price of the stock. A few billion dollars in losses will certainly make them replace Sundar.