Matthew HaugheyJan 20, 2023
every tech company cutting 10% of their workforce despite no major declines in profits just because one of their big competitors did it before them has the biggest "skate to where the puck is" vibes
Show threadNick MessickJan 20, 2023

@mathowie Not every company. Our last significant layoffs occurred just after Steve came back as CEO.

Some companies know how to run a business.

Show threadRenéeJan 21, 2023
@messick Ours also. We aren't chasing stock gains because we banked a few $B when we IPOd at the peak (quite deliberately), and are using the cash to ride through to profit with a solid, consistent delivery plan. And it's funny how the stock market punishes our earnings reports when we deliver to those expectations. But I love it--it means we're well-managed and not careening around on sentiment. Our products and teams will be better for it, which excites me as an engineer and person. @mathowie
Show threadChristopher
@reneestephen
That takes actual leadership, conviction, and vision, though, and most publicly traded companies are not run by people like that. You have to be able to stand up to the board of directors and to shareholders when they start asking "why aren't you cutting when everyone else is", and it's evident that the kinds of people who float to the top in these places aren't generally that kind of person.
@messick @mathowie
Jan 22, 2023 at 12:15amWeb