1,108 karma · joined August 3, 2022
Of course all this ended up being useless, but it was a fun project during the pandemic.
We have been actively indoctrinating our kids with the idea that college is not the be-all-end-all, that they should NOT apply for Ivy schools, 3rd tier schools are very good and if they want to go abroad or even eschew college altogether, we will support them. I've seen the effects that college admissions have on kids, especially in schools like Gunn and Palo Alto high in the Bay Area. Children committing suicide because they screw up a test is disgusting.
There is NO WAY I'm letting my kids go through that mental hell. And from some of the TikTok videos I've seen, you can dedicate your entire life to having a top application (sports, grades, extra curricular activities) and still get completely rejected by all Tier 1 schools. I won't allow my children to go through that just to be subjected to the whims of a racist, capricious admissions board.
Today we’re announcing a very hard change we have to make. We are rolling out a set of adjustments to our 2023 plan oriented around driving additional efficiency. As part of this we are reducing our workforce by about 8%. If you are one of the individuals whose role is impacted, you will receive a calendar invite for a conversation with a senior leader today. If you are outside of the U.S. there may be slightly different timelines based on local laws. If you are one of the individuals whose role is not impacted, you will receive a follow-up email letting you know you are not impacted.
Why we are doing this
This decision was not made lightly. However, I believe this is a necessary change to set us up for success in the year ahead.
To many, I’m sure this news comes as a shock, though those following the broader tech ecosystem closely may be less surprised. In this challenging economic environment, sales cycles are taking longer and many of our deals are more scrutinized by customers. This puts pressure on growth. Meanwhile there has also been a significant shift in the market, resetting expectations for the tech sector. This rapid change in the world around us, left our plans for the year increasingly squeezed between downward pressure on growth from a slowing economy and upwards pressure on efficiency from the rapid change in the market. Ultimately, we had optimized some aspects of our operations for a very different world than we found ourselves operating in. The responsibility for that falls squarely on me.
In light of this we reevaluated our plans for the year, and have made the decision to accelerate our path to profitability, while still delivering high growth. In our new plan, we expect to grow revenue by approximately 30% in 2023 and exit Q4 2023 with breakeven non-GAAP operating margin.
At my request, everyone on the executive team took a step back to look at our existing expenses and headcount. We wanted to ensure we had fully funded every essential aspect of our near term execution and longer term plans. But we knew that in the rapid growth over the last 8 years, there was room for improvements in efficiency without compromising our longer term plans. With this in mind we made a set of targeted cuts that enable a more rapid path to profitability while maintaining high growth. We’ll talk through these changes in the days ahead.
Our plan for departures
Unfortunately, we are saying goodbye to many friends and colleagues across the company. We want to do this in a way that ensures we are doing right by our departing team members.
In the U.S., impacted employees will be offered severance, healthcare coverage, outplacement services, immigration support as needed and some forward vesting of RSUs. Those outside the U.S. will receive a broadly similar package but with variations based on the requirements of local laws.
What’s next?
To those who are leaving, I want to say thank you. You have made important contributions to Confluent and I have the utmost respect for all of you.
To those who remain, I know a change like this is jarring and disruptive. We’ll be adjusting some team structures and our plans for the year in light of this change. We’ll be discussing this plan in greater detail at our company kick off next week.
Despite the difficult environment, I remain very optimistic about our future. We are a leader in a massive, highly strategic space. We have a huge opportunity to build a major new data platform that can be the central nervous system of every company.
I want to personally thank all of you for being here, showing up, and helping build Confluent into the enduring company we all know it can be.
-Jay
Your "oh these poor, hopeless blue collar workers that desperately need our help" is just your own classism, looking down on them and making you feel better about yourself by thinking you're helping them survive, like small swimmer fish eating the leftover from the shark that you are.
Whenever you think to yourself "why bother changing, it's just going to be as bad as it is here" that is learned helplessness, and you correct that the way you did, by leaving the situation. It's a coping mechanism for people that doesn't have the physical, mental or emotional energy to endure a change to get themselves out of a bad situation and it's a trap.
Congrats on working your way out of the bad situation and hopefully this empowerment continues with your for the rest of your life!
For example, the last one about how to handle unexpected situations. Some people have a tendency to panic or have high anxiety over the unknown. That doesn't mean they aren't of high character or you shouldn't do business with them. They could have built their entire lives to anticipate these types of situations and have other coping mechanisms to help deal with it. In a work environment, they could easily have those things in place.
To just spring something on someone without any context or knowing the person feels like a really, really poor "test" of anything.
I think we should definitely ban Bytedance and all Chinese companies until China opens up their economy to the US. I hate Trump and was against a lot but I supported tariffs against Chinese products.
1) Apply everywhere, literally in the hundreds. Different cities, different states, etc.
2) Make sure you are prepared. Do hundreds of Leetcode questions at least to the medium level. Do lots of systems design questions as well. The fact of life is that you need to show you can do coding questions and your competitors will all be at the top of their game here. If you don't match them, why exactly would you be a better candidate than them?
There's a depth to explaining things that GPT still can't do. It's still astonishing, and has completely changed my idea on what AI can do, like write plays with very incredible context (better than most humans!) but there are still major limits.