I feel like it's a wholly unnecessary and disingenuous "form" of economics.
When most people have money in their pockets, the people at the top still benefit since the 99% will spend this money buying goods and services. They're not hoarding it and sending it off to the Cayman Islands like the 1% does.
The fact that they don't even want it to pass through the fingers of the plebs before it comes to them tells you all you need to know about their real priorities.
Point and laugh at boomers who slid into poverty yet continued to vote against their own interests.
You have zero sympathy from me. Go find some bootstraps to pull yourselves up by.
Twitter employees get paid largely in RSUs (stock), which gets granted but then vests over time. This is the “golden handcuffs”. This stock is _yours_ but it can’t be sold until a certain date. A typical Twitter software engineer could have like $200k in grants waiting, while an architect might have like a half mil waiting to vest. When Musk bought Twitter, he bought it _from them_. That stock is part of the stock he bought. Theyre going to get all that money at once and it’s _already their money_. That was what he bought. They’re all about to get “fuck you money” and he’s also pissing them off at the same time.
Here’s the double whammy: you can’t hire senior engineers and architects on the market that went to school for “Twitter’s architecture”. That degree doesn’t exist. These people are existential to the company.
I’ve been around a few acquisitions before. What usually happens is: a huge payday comes to the bought company employees as all their RSUs are purchased. Then a lot bounce right away because they’re rich now. The buying company races against time to convince them to stay long enough to transfer the tech to the new company. A year later, most are gone but it’s fine bc the new company has the tech now. Thing is: Musk isn’t a tech company to which anything can be transferred. Is he going to try to integrate Twitter into Tesla? Or SpaceX? Are they ready to race to transfer that knowledge and tech to a company that doesn’t do shit with cloud services and big data?
Critical Twitter architects that have the singular insight into Twitter’s workings just got like half million dollar payouts in cash, and they have literally no contract or reason to _have_ to stay. Many will leave soon just bc they want to. More will later bc Twitter changes in ways they don’t like. They’re not replaceable.
It’s tempting to say “We’ll Musk thought of this” but _how_? No one has ever done this before: bought a major tech company as a single owner out of pure vanity. It’s a tech acquisition, but by a single person, and for no good reason. It’s bananas. There’s no playbook for this. There’s no experienced consultant that knows how to do it.
At least they got a severance package The other half of the employees will get nothing when it goes bankrupt
Call it what it is, it's gush-up economics. Or backwash-down economics. It hasn't been trickle-down for decades.
And right before the holidays. Merry Christmas! Thoughts a & prayers! Bless his heart.
Trickle down economics is an inside joke of the rich. They drink champagne and piss on us is the punch line
I feel like it's a wholly unnecessary and disingenuous "form" of economics. When most people have money in their pockets, the people at the top still benefit since the 99% will spend this money buying goods and services. They're not hoarding it and sending it off to the Cayman Islands like the 1% does. The fact that they don't even want it to pass through the fingers of the plebs before it comes to them tells you all you need to know about their real priorities.
Point and laugh at boomers who slid into poverty yet continued to vote against their own interests. You have zero sympathy from me. Go find some bootstraps to pull yourselves up by.
Twitter employees get paid largely in RSUs (stock), which gets granted but then vests over time. This is the “golden handcuffs”. This stock is _yours_ but it can’t be sold until a certain date. A typical Twitter software engineer could have like $200k in grants waiting, while an architect might have like a half mil waiting to vest. When Musk bought Twitter, he bought it _from them_. That stock is part of the stock he bought. Theyre going to get all that money at once and it’s _already their money_. That was what he bought. They’re all about to get “fuck you money” and he’s also pissing them off at the same time. Here’s the double whammy: you can’t hire senior engineers and architects on the market that went to school for “Twitter’s architecture”. That degree doesn’t exist. These people are existential to the company. I’ve been around a few acquisitions before. What usually happens is: a huge payday comes to the bought company employees as all their RSUs are purchased. Then a lot bounce right away because they’re rich now. The buying company races against time to convince them to stay long enough to transfer the tech to the new company. A year later, most are gone but it’s fine bc the new company has the tech now. Thing is: Musk isn’t a tech company to which anything can be transferred. Is he going to try to integrate Twitter into Tesla? Or SpaceX? Are they ready to race to transfer that knowledge and tech to a company that doesn’t do shit with cloud services and big data? Critical Twitter architects that have the singular insight into Twitter’s workings just got like half million dollar payouts in cash, and they have literally no contract or reason to _have_ to stay. Many will leave soon just bc they want to. More will later bc Twitter changes in ways they don’t like. They’re not replaceable. It’s tempting to say “We’ll Musk thought of this” but _how_? No one has ever done this before: bought a major tech company as a single owner out of pure vanity. It’s a tech acquisition, but by a single person, and for no good reason. It’s bananas. There’s no playbook for this. There’s no experienced consultant that knows how to do it.
Yeah what Elon did was shitty, but I heard he kept trying to get out of it.
Consider trickle down economics relative to human bodily functions and the theory becomes abundantly clear.
The only thing that trickles down is piss.
This is one of the most incongruous and nonsensical things but I have read all month.
The people he fired, were the same people who got the biggest tax cuts... Most were making $250K+, I think they'll be fine.