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.
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…
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.
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.
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.”
That’s what happens when a convicted used car salesman [unofficially] runs a public company.
No, what happens is he makes 3.5Billion and buys McMansions in California.
Companies laying off staff in a downturn is normal stuff.
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.
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…”
Shit companies gonna shit…
I’ve long since covered but wish I kept a few symbolic shares for bankruptcy
Technically, you were incorrect in your prediction. 
It is not a $50 stock - it is an $8 stock, probably on the way to zero.
Didn’t they make a profit Q2 last year?
Read what I wrote again, technically, I was absolutely correct. And that was posted at the $250-300 level. I continued to short it at 400 as well. It was $50 about a month ago, now we’re at the “maybe less” part.
I wouldn’t touch it here unless for a day trade. I’ve seen what happened with hertz but they had a diff business model.
