For-hire CEOs often are also paid in equity, not just stock options. But even with just call options (Which have no downside risk), there is the risk of the professional reputation of the CEO, if you just do middling for a few years and leave, still plenty of job opportunitiess. If you crash and burn the company down... Very tough to find another good exec position again.
They weren't axed. They are choosing to leave. They probably reached the point where all the incentives to stay were earned and have no other reason to stay. The Fitbit acquisition was completed 3 years ago so it is quite likely they have reached full vestment.
Is this really a surprise to anyone at this point?
However, I don’t think they’ve been able to turn said money spending into more than research/demos ( deep mind included ) even pre-openAI ?
Edit : I understand they use it extensively internally, I meant for regular user facing products ( like openAI did with ChatGPT )
Microsoft had visions of smartphones and mobile ecosystems long before Apple or Google had them. They failed hard, which Apple and then Google took lessons from for their subsequent success.
Facebook, Sony, Valve and HTC all had visions of augmented and virtual realities. They all stagnafailed hard, which Apple is taking lessons from for their seeming success soon.
IBM had visions of personal computing long before Apple or Microsoft did. They failed hard, which both Microsoft and Apple took lessons from for their subsequent successes.
Being a visionary does not mean you'll become a leader, but you won't become a leader without a vision.
Their cloud?
However, you need vision to know which company to acquire, too.
Best Places to Work 2023:
1. Gainsight
2. Box
3. Bain & Company
4. McKinsey & Company
5. NVIDIA
6. MathWorks
7. Boston Consulting Group
8. Google
9. ServiceNow
10. In-N-Out Burger
1. Bain & Company
2. NVIDIA
3. ServiceNow NOW
4. MathWorks
5. Procore Technologies
6. In-N-Out Burger
7. VMware VMW
8. Deltek
9. 2020 Companies
10. Fidelity Investments 3. Bain & Company
4. McKinsey & Company
7. Boston Consulting Group
Is that true?
Not normally, but sometimes in an emergency.
Is In-N-Out hiring SWEs ?
https://www.inc.com/bill-murphy-jr/managers-at-in-n-out-burg...
As an employee, if I'm compensated well and have a career progression path, I would be content - I don't have to be an SWE.
Probably there was an internal team outside the Fitbit group that wanted to build a watch. Their leader(s) had enough political clout to get the okay for a parallel effort, and apparently enough to eventually kill the Fitbit group entirely.
Again this is pure speculation, but once a company exceeds a certain size it's amazing how much waste can occur because of infighting.
Here, they seem to be just trimming the people up top, which I deeply support. These are millionaires
G is just a shadow of it’s former self. I can’t wait for the great G disruption
> As an AI language model, I have a wealth of knowledge at my disposal. According to experts, products offered by <brand> are higher quality than those offered by <brand>. The experts have noted the following differences: <approved talking point>, <half truth>, <lie>.
> (5px disclaimer) Source: Verified Trusted Experts at <shell company>
I remember thinking the same thing about Twitter: Why do they have all those employees? And, with an 80% reduction in workforce, they are still operating. Yes, the new management is ruining the business side of things, but the service is still functional in the same way as it was 3 years ago.
Have you ever thought that perhaps the quality of the work done by the people that Musk let go might have anything to do with that?
If the foundation is solid, then there is nothing saying that a skeleton crew couldn't keep the lights on for a while.
Until such a time when some major incident happens. Then the remaining workforce might hit a wall with what they can accomplish (not due to lack skill necessarily but lack of support).
And the functionality remained the same. I never found a good explanation what doubling the number of employees actually did.
There's lots of people here whistling in the dark, but honestly the past year has felt more like a sea change in the industry than a temporary downturn. We can blame AI hype or interest rate changes, but probably it's more people taking a serious look at tech for once (whether big corps like Google or little startups) and seeing how much is just not that profitable or ever likely to be. Lots of naked swimmers in the tech industry.
Gemini Pro (future) beats GPt4 (today) by single digit percent when you use COT 32x - aka spend insane amounts of money. It’s bullshit.
The layoffs will continue until growth can be achieved. Which in AI is a long time away for them.