Am also kind of curious on this aspect of it with the Bank of Garcia cashing out as you said, 1000 times over. Once the investors lose more and the business gets right-sized I could see the Garcia’s propping it up or buying back in at obv a lower cost.
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Wouldn’t be the first time rules for thee came into effect. Look at his history
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you should look into the Garcia’s history of business ownership. some real shady cocksuckers.
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It’s always fun to make a bill and pay 100 mill fine. Welcome to corporate America’s elite
If this doesn’t make you mad nothing will. Look what his estimated cost to taxpayers is. And he’s worth 7-8 bill today
I often think about this when it comes to the banking sector in America. For example Wells Fargo where it’s rationalized as 500 million in fines is the “cost of doing business”. Plenty of other banks and industries have also gone down this path.
VW when it came to Dieselgate as another example.
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Who’s gonna start the tax holiday? We need leaderships. Left or right we have more in common then these elitists.
Americans have become too complacent. Revolution is needed but no one wants to put the work in. Hence why states rights was the way things were set up…
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if you really are interested go read up on Drivetime, the Garcia’s main business.
the shit they pull on poor people should be punished by several different forms of dismemberment.
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This is true - they put job postings because Wall Street checks and they use it as a gauge of how healthy a company is. I work in tech - on the tech management side, and had strong management interviews at Meta, Amazon and Apple, but only Meta got back with me.
I’d also say I think the days of $500k-700k for a programmer are coming to an end. Lots of guys are getting wiped on salaries right now, losing 30-50% on RSUs. Uber, for example, guys were pulling 550+, with 250k base, now aren’t sitting much prettier than an average physician. Netflix, however, offers RSU -mix or all-cash comp, so their employees are fine if you did all-cash.
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Seems it’ll only get worse as the 3rd world gets wealthier as they’re still willing to work for less. Current salaries directly reflected inflated stock prices, as these companies are halved in market cap they will be cutting back for sure.
This chart shows the demand is there so I’m sure companies will continue to offshore positions since it’s capped at 85k h1b visas per year in the us.
This news headline came up in my news feed:
https://www.cnbc.com/2022/06/28/tesla-cutting-200-jobs-closing-autopilot-office-in-san-mateo.html.
“Tesla is closing its office in San Mateo, California, where employees worked on improving the company’s driver assistance systems.
The company is eliminating about 200 jobs along with the closure.”
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That’s what happens when a convicted used car salesman [unofficially] runs a public company.
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No, what happens is he makes 3.5Billion and buys McMansions in California.
Companies laying off staff in a downturn is normal stuff.
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And how does this contradict what I said? 
To clarify: I replied to this part:
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Carvana and other such companies hedged their bets that the gravy train wasn’t going to come to an so abruptly.
it’s funny that carvana has never made a cent of profit in its entire existence.
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You stated that his downturn happened because he’s a convicted used car salesman.
I don’t agree with that statement. Layoffs because of unpredicted downturns are part of normal businesses, I see no correlation that his being a shady guy caused this. I’ve seen many businesses run by upright (sorta) people lay people off. I’ve seen businesses that are run by shady people keep on surviving because those shady people have the right people to keep it going.
No I did not, and I clarified it. Well, yeah I did lol
The guy doesn’t really care about long term success, I guess. He cashed in billions of stock so may just bankrupt the company now.
I bet their memo said, “The good news is that Elon Musk isn’t CEO. The bad news is…”
