Re:Robinhood lays off 23% of staff
by renewiltord on Tuesday August 02, 2022 @06:19PM
(#32324993)
Sure but that's not opex (the context of this thread). That's stuff he has by virtue of founding the company.
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"I'm a founder and you are just OPEX" is how people get put up against walls.
Re:Robinhood lays off 23% of staff
by saalweachter on Tuesday August 02, 2022 @06:31PM
(#32325111)
Eh, does he deserve $55M for founding a f(l)ailing company? If he wasn't a founder, would you say "No, never mind the $55M he pulled out of the company last year, last year everything was fine. The massive cash shortfall the company is experiencing today has nothing to do with those $55M that are no longer in the company's coffers."?
> The massive cash shortfall the company is experiencing today has nothing to do with those $55M that are no longer in the company's coffers.
Do you not understand how stock sales work?
The $55M didn't come from company coffers. It came from pension funds, hedge funds, and retail investors on the other side of the sale.
Re:Robinhood lays off 23% of staff
by renewiltord on Tuesday August 02, 2022 @06:50PM
(#32325288)
Mate, ultimately the point is that if you sell $55 m of your stock in a company you're not taking money out of the company. That stuff ceased to be owned by the company when those shares (or derivatives that control them) were granted (way before this point).
I think ultimately the point is that this guy who fucking sucks at running a company made $55mm, and several hundred people just lost their jobs due to his ineptitude. Seems pretty cut and dried to me that he's a pile of shit; if he really cared about his employees he would truly take responsibility and reinvest some of his money in the company.