Re:We have reached an agreement in principle for Sam to retu...
by lacker on Wednesday November 22, 2023 @03:15AM
(#38376439)
It's the same thing, really. Even if you want to shut down the company you need a CEO to shut it down! Like John Ray who is shutting down FTX.
There isn't just a big red button that says "destroy company" in the basement. There will be partnerships to handle, severance, facilities, legal issues, maybe lawsuits, at the very least a lot of people to communicate with. Companies don't just shut themselves down, at least not multi billion dollar companies.
Re:We have reached an agreement in principle for Sam to retu...
by JumpCrisscross on Wednesday November 22, 2023 @10:08AM
(#38380253)
You’re right. But in an emergency, there is a close option which is to put the company into receivership and hire an outside law firm to advise. At that point, the board becomes the executive council.
Nobody comes out of this looking good. Nobody. If the board thought there was existential risk, they should have been willing to commit to it. Hopefully sensible start-ups can lure people away from their PPUs, now evident for the mockery they always were. It's beyond obvious this isn't, and will never be, a trillion dollar company. That's the only hope this $80+ billion Betamax valuation rested on.
I'm all for a comedy. But this was a waste of everyones' time. At least they could have done it in private.