Unlimited PTO is not uncommon in companies with large workforces in certain states, and there are some employer benefits. If the employee has no accrued PTO, then there's no liability on the books when they separate. The peer pressures involved also mean that many employees use less PTO than they would otherwise.
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Elon & Twitter
- Thread starter Buckminster
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The places Ive seen offer unlimited PTO actually find workers taking less time off than before. Guilt re: impact on their team, etc. is one factor.
Obviously it could only work in certain employment situations.
Obviously it could only work in certain employment situations.
bkp_duke
Well-Known Member
Apparently at Twitter that wasn't a problem (guilt).
ElectricIAC
Good-Natured Rascal
If only Elon could buy it out at 50%
still be overpaying.
But of course there’s nothing stopping him from selling more TSLA at its current uh.... 50 percent off and buying the part of Twitter he doesn’t own at 60 cents on the dollar... since its such a great investment and all.
BitJam
Active Member
Posted four days ago:
Twitter wanted to sell (and sued Musk to ensure he bought) so business-wise this wasn't a hostile takeover but in terms of pissing people off it sure was. The hostile environment he created at Twitter is almost the polar opposite of the good will he created at his start ups (Tesla, SpaceX, etc). This story is now taking on the look of a Greek tragedy with hubris being the main theme.
I hope I'm wrong but at this point the only question now seems to be how soon will Elon bail out and how many tens of billions of dollars will he lose. Ten billion here, ten billion there, pretty soon you're talking about real money.
Twitter wanted to sell (and sued Musk to ensure he bought) so business-wise this wasn't a hostile takeover but in terms of pissing people off it sure was. The hostile environment he created at Twitter is almost the polar opposite of the good will he created at his start ups (Tesla, SpaceX, etc). This story is now taking on the look of a Greek tragedy with hubris being the main theme.
He told Twitter staff today his TSLA sales Friday and this week were to save Twitter. The insinuation there is he’s having to pump another $4 billion into the deal. So one way to look at it is Twitter cost not $44 billion but $48 billion. So far.
Meanwhile TSLA shareholders taking it on the chin.
ZenRockGarden
Active Member
Yeah, $4B should give him a year or two to figure out how to not pick fights with advertisers and make blue-check-marks work longer than a couple hours before they have to be turned off again.
I say that both with some bitter sarcasm, but also with a note of reality that I've been pointing to all along. Properly moderating a decent and well attending "Town Square" on a global scale is HARD - free speech absolutism is moronically stupid as a way to do it, and accomplishing it will involve years of trial and error and deep insight the likes of which were in the heads of people Ellon just fired because he thinks his own personal spin on US politics knows better.
He may need a lot of that $4B to buy time to get it wrong enough times to gradually back himself into what the experts he fired could have simply told him up front.
The one guy Elon seemed to trust has apparently resigned. This story just gets interesting, probably means Elon has to spend more time at twitter.
My son has never worked for a company that had specific amount of PTO. He worked at Capital One (you know the big bank) and another financial company. It is becoming more and more common.
Twitter acquisitions was a bird brained idea.
More good people are going to leave. Letting so many people thinking that they arent worth it is unsettling and if people had personal relationships it just makes the other people look and leave.
More good people are going to leave. Letting so many people thinking that they arent worth it is unsettling and if people had personal relationships it just makes the other people look and leave.
MSM will be ready with their "Tesla has now become the default piggy bank for Twitter funding" headlines
lol. that Yoel Roth who Elon frantically re-tweeted and had to go out there telling that all moderation of harmful content is working jjjjuuuuust fine...
advertisers won't feel better now at all
BitJam
Active Member
I think the $4B was part of the $44B price tag. It went to paying off the bridge loans. It sure isn't money he socked away for future operating expenses. Yes, it will help him keep Twitter by reducing the $1B/yr interest he has to pay. But, according to Elon, he still needs Twitter to start generating more income to avoid going into casters up mode. I don't think he has a cushion of cash somewhere to fund operating Twitter at a loss.
bkp_duke
Well-Known Member
That's great, good for him.
The underlying problem with Twitter, in this SPECIFIC instance, is Twitter was overstaffed by all objective measures, and that leads to a corporate culture of underwork. The "unlimited PTO" contributes to that, because there is no culture like previously mentioned in today in this thread by others where people feel "guilty" letting their co-workers shoulder the burden, because the burden is so light.
With the cuts (and I would bet there are going to be more), there is burden.
ElectricIAC
Good-Natured Rascal
ZenRockGarden
Active Member
which is at least a fairly valid perspective on reality right now
Honestly, Yoel should have been out on day 1.
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