Vish

[Vish @vishbwaj]

@KrisPatel99 Do you regret closing 3/4 of your position? What woukd you have done differently?

[Vish @vishbwaj]

Banger quarter by $ELF, beat on all KPIs, stellar guidance raise! But the price action sucks AH. Listening to call, sounds like guide is not as high relative to momentum brand is seeing. Sidenote, most companies reporting AH are red which is insane. Open should be interesting.

[Vish @vishbwaj]

@anandmahindra Reading your opening two paragraphs made it sound like he is no more. Glad that’s not the case after reading through fully. No doubt…One of the finest in this craft!!

[Vish @vishbwaj]

@furnuwees @Nithin0dha There is Grok button just for this. You just don’t want to do the work of understanding.

[Vish @vishbwaj]

@anupamachopra Human version of an LLM hallucinating - you ask it one thing and it goes off another tangent completely 🤦‍♂️

[Vish @vishbwaj]

@nejatian Love your mission & ambition, rooting for you. But this is such a vanity metric. Ofc, it'd be 20x with layoffs in tens of thousands, job market awful as is, with each one app'ing to 100s of jobs, if not 1000s. They will take anything they can get. Nothing to write home about here

[Vish @vishbwaj]

@JayneshKasliwal Don’t go to any fort, cliff, or elevated places.

[Vish @vishbwaj]

Think about this. $33B market cap company $XYZ, now has around 5K employees after this reduction. A $9B $DOCU still has ~7K employees, bloated, and have barely reset. Why is anyone’s guess. Insane. You got to think this is coming soon at $DOCU and many other companies as well.

[jack @jack]

we're making @blocks smaller today. here's my note to the company.

####

today we're making one of the hardest decisions in the history of our company: we're reducing our organization by nearly half, from over 10,000 people to just under 6,000. that means over 4,000 of you are being asked to leave or entering into consultation. i'll be straight about what's happening, why, and what it means for everyone.

first off, if you're one of the people affected, you'll receive your salary for 20 weeks + 1 week per year of tenure, equity vested through the end of may, 6 months of health care, your corporate devices, and $5,000 to put toward whatever you need to help you in this transition (if you’re outside the U.S. you’ll receive similar support but exact details are going to vary based on local requirements). i want you to know that before anything else. everyone will be notified today, whether you're being asked to leave, entering consultation, or asked to stay.

we're not making this decision because we're in trouble. our business is strong. gross profit continues to grow, we continue to serve more and more customers, and profitability is improving. but something has changed. we're already seeing that the intelligence tools we’re creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company. and that's accelerating rapidly.

i had two options: cut gradually over months or years as this shift plays out, or be honest about where we are and act on it now. i chose the latter. repeated rounds of cuts are destructive to morale, to focus, and to the trust that customers and shareholders place in our ability to lead. i'd rather take a hard, clear action now and build from a position we believe in than manage a slow reduction of people toward the same outcome. a smaller company also gives us the space to grow our business the right way, on our own terms, instead of constantly reacting to market pressures.

a decision at this scale carries risk. but so does standing still. we've done a full review to determine the roles and people we require to reliably grow the business from here, and we've pressure-tested those decisions from multiple angles. i accept that we may have gotten some of them wrong, and we've built in flexibility to account for that, and do the right thing for our customers.

we're not going to just disappear people from slack and email and pretend they were never here. communication channels will stay open through thursday evening (pacific) so everyone can say goodbye properly, and share whatever you wish. i'll also be hosting a live video session to thank everyone at 3:35pm pacific. i know doing it this way might feel awkward. i'd rather it feel awkward and human than efficient and cold.

to those of you leaving…i’m grateful for you, and i’m sorry to put you through this. you built what this company is today. that's a fact that i'll honor forever. this decision is not a reflection of what you contributed. you will be a great contributor to any organization going forward.

to those staying…i made this decision, and i'll own it. what i'm asking of you is to build with me. we're going to build this company with intelligence at the core of everything we do. how we work, how we create, how we serve our customers. our customers will feel this shift too, and we're going to help them navigate it: towards a future where they can build their own features directly, composed of our capabilities and served through our interfaces. that's what i'm focused on now. expect a note from me tomorrow.

jack

[Vish @vishbwaj]

Feel for folks who bought $DUOL on Feb 23 thinking the bottom’s in and were excited for the next three days. Until this happened. Hope they took the small wins and moved on. This market is brutal to say the least 🩸🩸🩸🩸

[Vish @vishbwaj]

@varshikaARK Loved your reporting on AI wearables. Who do you think are gonna be probable winners here in this space outside of the obvious ones $META?

[Vish @vishbwaj]

@varshikaARK The #2 is a natural selection process. It’s not “we”. It’s more like what can “i” do to retrain myself and how quickly can “i” do so. I acknowledge that not everyone will have access nor inclination but in this token driven intelligence economy, folks need to lean in on their own

[Vish @vishbwaj]

@varshikaARK Fair enough, but if adoption of this level becomes acceptable across the board by other companies (inevitable with time), i think it only accelerates the case they make.

[Deirdre Bosa @dee_bosa]

This is a profitable, growing company cutting nearly half its workforce.

If @jack executes well post-cut, this becomes a template. 3 days ago everyone was calling the Citrini piece "science fiction"... now its hitting a little closer to home

[Vish @vishbwaj]

Elon was one of the first few to do it this way at Twitter. Now the founder of Twitter does this at $XYZ. There's no better way than this rather than a thousand cuts, if the company has to transform and he believes in that mission. Suspect more companies will follow suit.

[jack @jack]

we're making @blocks smaller today. here's my note to the company.

####

today we're making one of the hardest decisions in the history of our company: we're reducing our organization by nearly half, from over 10,000 people to just under 6,000. that means over 4,000 of you are being asked to leave or entering into consultation. i'll be straight about what's happening, why, and what it means for everyone.

first off, if you're one of the people affected, you'll receive your salary for 20 weeks + 1 week per year of tenure, equity vested through the end of may, 6 months of health care, your corporate devices, and $5,000 to put toward whatever you need to help you in this transition (if you’re outside the U.S. you’ll receive similar support but exact details are going to vary based on local requirements). i want you to know that before anything else. everyone will be notified today, whether you're being asked to leave, entering consultation, or asked to stay.

we're not making this decision because we're in trouble. our business is strong. gross profit continues to grow, we continue to serve more and more customers, and profitability is improving. but something has changed. we're already seeing that the intelligence tools we’re creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company. and that's accelerating rapidly.

i had two options: cut gradually over months or years as this shift plays out, or be honest about where we are and act on it now. i chose the latter. repeated rounds of cuts are destructive to morale, to focus, and to the trust that customers and shareholders place in our ability to lead. i'd rather take a hard, clear action now and build from a position we believe in than manage a slow reduction of people toward the same outcome. a smaller company also gives us the space to grow our business the right way, on our own terms, instead of constantly reacting to market pressures.

a decision at this scale carries risk. but so does standing still. we've done a full review to determine the roles and people we require to reliably grow the business from here, and we've pressure-tested those decisions from multiple angles. i accept that we may have gotten some of them wrong, and we've built in flexibility to account for that, and do the right thing for our customers.

we're not going to just disappear people from slack and email and pretend they were never here. communication channels will stay open through thursday evening (pacific) so everyone can say goodbye properly, and share whatever you wish. i'll also be hosting a live video session to thank everyone at 3:35pm pacific. i know doing it this way might feel awkward. i'd rather it feel awkward and human than efficient and cold.

to those of you leaving…i’m grateful for you, and i’m sorry to put you through this. you built what this company is today. that's a fact that i'll honor forever. this decision is not a reflection of what you contributed. you will be a great contributor to any organization going forward.

to those staying…i made this decision, and i'll own it. what i'm asking of you is to build with me. we're going to build this company with intelligence at the core of everything we do. how we work, how we create, how we serve our customers. our customers will feel this shift too, and we're going to help them navigate it: towards a future where they can build their own features directly, composed of our capabilities and served through our interfaces. that's what i'm focused on now. expect a note from me tomorrow.

jack

[Vish @vishbwaj]

@joecarlsonshow A broken clock is still right two times a day

[Vish @vishbwaj]

@johnarnold Well they dumped it all on retail, didn’t they? Retail is always the exit liquidity $KLAR

[Vish @vishbwaj]

@VulcanMK5 @rakoraja Should you be looking at this taking out the SBC from FCF? Huge dilution with SBC $TEAM $MNDY $CRM

[Vish @vishbwaj]

@sachinvats $MNDY fits this bill perfectly. 57% below IPO price, and still trading below all time lows in Nov 2022.

[Vish @vishbwaj]

@leevalueroach Don’t touch this with a ten ft poll. Will be dead Capital.