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Re:Google announces Q1 2023 earnings [pdf] by ChuckMcM on Tuesday April 25, 2023 @04:36PM (#35706413)
Well that was an interesting read.

Some things that stood out to me, changing depreciation rules to “magically” generate $770M in revenue. Traffic acquisition costs down for the quarter (I think this is the first time in like 10 years it has gone down). And a stock buyback which does the “let’s pretend our stock is going up” trick. (IBM has been a master of this for years).

None of it looked very hopeful for the future of Alphabet. A friend of mine who was in the “sudden layoff of entire projects” wave is starting to feel better about having gotten out with a severance package. I told them (as a survivor of a couple of layoffs back in the dot.com days) that there are pluses and minuses to being picked or being passed over. But everyone gets reminded to polish up their resume and start looking at the alternatives. If you still work there, keep an eye on the people you know are the ones who “get things done” as they will often be the first to leave as it is easier for them. Folks who have moved from cancelled project to cancelled project will find it harder as interviewers will be unconsciously biased against applicants who have never worked on a successful project/product.

Take heart though, when “gorilla/monster/dominant” technology companies die, their former employees fertilize the field of new ideas and, at least as I’ve observered over the last 40 years, new greatness emerges.

Re:Google announces Q1 2023 earnings [pdf] by yodsanklai on Tuesday April 25, 2023 @05:24PM (#35706950)
> Folks who have moved from cancelled project to cancelled project will find it harder as interviewers will be unconsciously biased against applicants who have never worked on a successful project/product.

Interviewers don't know whether your projects were successful or not (and often don't care, I don't remember ever being asked this type of questions, SWE interviewing has always been mainly technical for me).

Re:Google announces Q1 2023 earnings [pdf] by cuteboy19 on Tuesday April 25, 2023 @05:47PM (#35707156)
Would you hire a stadia employee or a search employee?
Re:Google announces Q1 2023 earnings [pdf] by pb7 on Tuesday April 25, 2023 @06:34PM (#35707638)
Stadia was an incredibly impressive technical product. It failed because of terrible product and business vision, not its engineering.
Re:Google announces Q1 2023 earnings [pdf] by CydeWeys on Tuesday April 25, 2023 @05:49PM (#35707175)
I'd hire whichever one did better on the interview. Stadia had excellent engineers working on it and the product itself was technically amazing.
Re:Google announces Q1 2023 earnings [pdf] by plorkyeran on Tuesday April 25, 2023 @06:05PM (#35707352)
Yes? I'm not sure how that's even a question. Passing on someone that seems like a good hire because they worked on a technically impressive thing which had some major non-technical problems would be really stupid. Both of those are things which would make me more interested in bringing them in for an interview, not less.
Re:Google announces Q1 2023 earnings [pdf] by cuteboy19 on Tuesday April 25, 2023 @06:08PM (#35707377)
I suppose I should have worded it differently to follow up on the "unconscious bias of recruiters" angle
Re:Google announces Q1 2023 earnings [pdf] by ChuckMcM on Tuesday April 25, 2023 @06:23PM (#35707539)
At least in the SF Bay Area, I'd be careful with this assumption: "Interviewers don't know whether your projects were successful or not ..."

The number of degrees of freedom between any two people is remarkably small. As someone who has interviewed and hired perhaps two or three hundred people over my career, it was rare that as an interviewer I didn't know more about the interviewer than their resume stated. Later in my career, the depth of information in "ATS" (Applicant Tracking Systems) applications at companies has only gotten deeper. Social media posts, comments on HN :-), peer analysis from others hired from the same company, Etc.

What is more, from Google's perspective, a lot of their hiring teams who used these systems to screen candidates were contractors and have often been laid off when Google needed to make better numbers. They didn't just "forget" everything they knew, a number of them with whom I worked, contacted me post Google employment after setting up their own business as recruiters.

Not saying its good or bad, just that it is important that a lot of information exists that "follows you" around. The longer you work, the more senior you become, the more it fills with a ratio of "haters/meh/supporters" info.

The thing that always annoyed me and I had to ASK recruiters to send me candidates that matched but their "whisper network" suggested they were problems/losers. Sometimes just getting past that screen is really tough for someone.

EDIT: sometimes the wording is tricky.

Re:Google announces Q1 2023 earnings [pdf] by yodsanklai on Tuesday April 25, 2023 @07:06PM (#35707911)
I think I only ever interviewed and worked in big tech companies that recruits candidates at global scale. When interviewing a candidate, we try to avoid bias and pick objective signals. Whether their past projects got canceled is the type of things we actively don't want to know about. But now I suppose that in companies with smaller pools of local candidates, this type of information can make a difference.
Re:Google announces Q1 2023 earnings [pdf] by ChuckMcM on Tuesday April 25, 2023 @07:19PM (#35708004)
That is great. Does your company ever use third party recruiters (aka "head hunters")? If so, how do you structure your recruiting contract with them so that you avoid bias and use objective signals? I'm wondering what language one could put in such a contract. I'm imagining something like this:

"Recruiter will supply all sources of information consulted prior to offering candidate for consideration, if it is discovered that undisclosed sources were used, recruiter agrees to forfeit their fee."

Re:Google announces Q1 2023 earnings [pdf] by yodsanklai on Tuesday April 25, 2023 @08:06PM (#35708313)
I don't think we do. The modus operandi is to cast a wide net, interview any potential candidate that have at least some chance to pass the technical interviews (based on resume or referral, recruiters don't dig very deep). Pre-screener is 1-2 coding interviews, then if ok, on-site interviews. I believe lots of big tech companies, including FAANGs, proceed this way.
Re:Google announces Q1 2023 earnings [pdf] by ChuckMcM on Tuesday April 25, 2023 @08:19PM (#35708390)
Fair enough. My experience is that contract recruiters will not even pass pre-screen candidates that they "hear negative scuttlebutt about". I understand it, they want to send candidates with what they think are the most likely to be hired, and my experience is that the recruiters understanding of "likely" may unconsciously bias them.

Employed on site recruiters you can have a good conversation with and say "Even if you hear they are not good, if they check the boxes on where we're looking I would like to review." Which, given they are evaluated by candidates delivered rather than candidates hired, works out.

Re:Google announces Q1 2023 earnings [pdf] by nvarsj on Friday April 28, 2023 @11:45AM (#35742754)
Did you just say Google is indexing HN comments with applicants? Can you provide more info?
Re:Google announces Q1 2023 earnings [pdf] by ChuckMcM on Friday April 28, 2023 @01:19PM (#35744295)
Google uses all available information in its hiring and screening tools.
Re:Google announces Q1 2023 earnings [pdf] by pb7 on Tuesday April 25, 2023 @05:26PM (#35706970)
Apple has bought back roughly $75B per year since 2018, at least. https://ycharts.com/companies/AAPL/stock_buyback
Re:Google announces Q1 2023 earnings [pdf] by hardikgupta on Tuesday April 25, 2023 @05:27PM (#35706980)
> Some things that stood out to me, changing depreciation rules to “magically” generate $770M in revenue.

Changing depreciation schedule has no impact on revenue. It only affects costs and therefore profit.

Re:Google announces Q1 2023 earnings [pdf] by ChuckMcM on Tuesday April 25, 2023 @06:37PM (#35707662)
You are correct.

Public companies can change their depreciation schedules at any time and accounts use that fact to change their "losses" in a way that is most beneficial to the company. Too much profit so have to pay taxes? Depreciate things faster. Not enough profit to appease the investors? Depreciate things more slowly.

Re:Google announces Q1 2023 earnings [pdf] by CydeWeys on Tuesday April 25, 2023 @05:28PM (#35706991)
> And a stock buyback which does the “let’s pretend our stock is going up” trick. (IBM has been a master of this for years).

Not sure what trick you're referring to. Buybacks are the new dividends; they accomplish the same thing but in a more tax-efficient manner for investors.

Re:Google announces Q1 2023 earnings [pdf] by za3faran on Tuesday April 25, 2023 @05:51PM (#35707193)
Interesting, I haven't thought about it that way before. Are buybacks more volatile compared to dividends?
Re:Google announces Q1 2023 earnings [pdf] by saovq on Tuesday April 25, 2023 @06:01PM (#35707309)
Buybacks are increasingly viewed as a better way to return money to shareholders, for companies, not individual shareholders. They prop up the stock obviously, but also allow greater flexibility for the company in removing what becomes an expected obligation (dividend payment). In exchange, you can have a discretionary buyback program that can fluctuate in amount over time, and is viewed as less of a bell weather for the company's health.

What is good about buybacks for investors is that you can choose how to time your sales, which can result in tax benefits. Dividends you pay tax on a schedule that might be less suitable to whatever financial massaging investors might want to engage in.

Re:Google announces Q1 2023 earnings [pdf] by peteradio on Tuesday April 25, 2023 @06:37PM (#35707660)
Can you do buybacks forever or just a few decades or so?
Re:Google announces Q1 2023 earnings [pdf] by votepaunchy on Tuesday April 25, 2023 @08:21PM (#35708398)
You can always split the stock if employee and executive options are not creating sufficient shares.
Re:Google announces Q1 2023 earnings [pdf] by morepork on Tuesday April 25, 2023 @06:43PM (#35707736)
On top of this, execs typically have a lot of stock based compensation. So buybacks are way better than dividends for them
Re:Google announces Q1 2023 earnings [pdf] by roncesvalles on Tuesday April 25, 2023 @09:02PM (#35708646)
Dividends, in addition to creating an expectation, are also a ratchet because an ever-increasing streak of dividends is tracked as a metric to gauge the health of a company.[1] If a company wants to return one-time excess money to investors, buybacks are the only way.

[1] https://en.wikipedia.org/wiki/S%26P_500_Dividend_Aristocrats

Re:Google announces Q1 2023 earnings [pdf] by jumpCastle on Tuesday April 25, 2023 @05:59PM (#35707286)
Did relevant tax rules change recently? If not, why is this behavior new?
Re:Google announces Q1 2023 earnings [pdf] by fshbbdssbbgdd on Tuesday April 25, 2023 @06:13PM (#35707437)
It’s not new, buybacks have been increasing for decades.

A bonus 1% tax on buybacks was recently added by the Inflation Reduction Act, and Biden has called for that to be increased to 4%. If the tax is high enough, more companies will go back to paying dividends.

Re:Google announces Q1 2023 earnings [pdf] by CydeWeys on Tuesday April 25, 2023 @09:50PM (#35708913)
They were legalized in 1982, so no, definitely not new. Simply put, it took norms and customs awhile to develop around using them, plus the Net Investment Tax came into effect making the tax savings more substantial.