The executive was hired by the board or with the board support (CEO usually)
They did exactly what they wanted
Comment on Update: Unity office death threat was made by a Unity employee
pleasemakesense@lemmy.world 1 year agoI dont understand how the board allows this behaviour, how do they not interween when an executive clearly is abusing the terms of the contract at the expense of the conpany
Saneless@lemmy.world 1 year ago
30mag@lemmy.world 1 year ago
They don’t give a shit if someone sinks the ship because they already have their lifeboat ready.
chiliedogg@lemmy.world 1 year ago
The stakeholders want to cash out. A temporary bump to increase the company’s value with no regard for future prospects is great for them.
AWittyUsername@lemmy.world 1 year ago
$$$
AnUnusualRelic@lemmy.world 1 year ago
This scheme worked fine for thousands before him, so clearly board members are not an issue, presumably because they benefit from it.
PoliticalAgitator@lemm.ee 1 year ago
They know exactly what they’re doing.
They’ve been collecting metrics for months and plugging them into spreadsheets to figure out exactly how profitable this will be, just waiting for the right moment to pull the trigger.
They knew it would be incredibly unpopular. They knew it would likely kill the company one day.
But the spreadsheet doesn’t care about any of that so neither do they. They sold off stocks then made the announcement.
When the changes go live, they’ll squeeze everything they can out of successful projects, who will be left in a position of “losing 50% to Unity is better than losing 100% from pulling the game”.
They’ll stuff their pockets with us much of that money as they can and when the spreadsheet tells them to, they’ll pull the plug and strip the company for parts.
It was the best thing for them and that was all that mattered.
TeoTwawki@lemmy.world 1 year ago
Not to mention money can be made litteraly betting on the stock price swinging from the bad news. Calls and puts plam far enough in advance and automate/preset triggers via broker agreements and can even avoid getting nailed for the obvious insider trading a lot of the time.
piecat@lemmy.world 1 year ago
This shit should be illegal. If it isn’t already.
Destroying a company for your own personal gain is why America is falling under
PoliticalAgitator@lemm.ee 1 year ago
It’s not going to change as long as the only people to vote for are “red neoliberals” or “blue neoliberals”.
anlumo@lemmy.world 1 year ago
They also made the announcement right after an iPhone announcement. Unfortunately, the iPhone was completely underwhelming, so the news didn’t get buried like they probably expected.