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Comment by ClumsyPilot | Hacker News Reader

So you 100% trust the management team is right to fire those people.

A month ago, would you would have believed that management team is right hire these people?

Did they make a mistake when they were hiring or did they make a mistake now when they are firing?

You cant believe both simultaneously.

Alternatively, maybe management team is just out for themselves, doesn't care. , and is just riding the wave. Pumo the share price.

Or maybe they are incompetent, don't know how to apply a large team, are out of ideas on how to invest 1.6 billion dollars profitably.

Now I dont have proof for my hypothesis b, but at least I am mot contradicting myslelf.

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> Did they make a mistake when they were hiring or did they make a mistake now when they are firing? You cant believe both simultaneously.

No it's entirely plausible that hiring then was the right decision and firing now is the right decision. There's no universal law that says you must hire people for eternity.

Facebook literally fired people they hired a week prior.

Why do you feel the urge to make excuses for managerial incompetence.

Like when you are a worker, they must be scruitinised to make sure they arent lazy or incompetent, but the day you get promoted to executive you gain godlike immunity from criticism

It’s not up to you to decide if what the management did is right or wrong, it’s up to the shareholders. They own the company and they appoint the management. If they make bad decisions it’s up to them to replace them.

Do they really do it?

In the past 40 years several FTSE 250 companies have collapsed, gone bancrupt or suffered some other disaster.

I can't name any example where shareholders replaced upper management before it was too late. Can you?

They do it indirectly via the board of directors, they are the representatives of the shareholders (akin to a representative democracy). It is a common scenario for the shareholders to vote in a new board to replace the existing management.

https://en.wikipedia.org/wiki/Proxy_fight

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