Equity 2022's best and worst dinner guest: Elon Musk
Dec 30, 2022
The hosts reflect on a tumultuous year in tech, urging caution following Better.com's layoffs and corporate mismanagement. They dive into the complicated relationship between Elon Musk and Twitter, discussing the implications of Musk's leadership style. The fallout from the FTX collapse raises concerns about the crypto ecosystem, highlighting the risks of letting FOMO guide investments. Personal stories of employee struggles and the challenges of corporate culture underscore the emotional impact on workers amidst industry upheaval.
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Better.com Layoffs
- Better.com laid off 9% of its workforce via Zoom call.
- CEO Vishal Garg's actions were widely condemned, leading to more resignations and layoffs.
Better.com's Deeper Issues
- Better.com's issues extend beyond typical growth stage company problems.
- The company's missteps include a flawed business model, loss of talent, and toxic culture.
Severance Check Incident
- Better.com's layoffs continued, with severance checks sent prematurely and then rescinded.
- This caused further distress and disrespect among employees.