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Joe Biden 2024 thread - Dark Brandon Strikes Again
Right, but that's only an issue if they don't pay it off in time and incur fees, and even then, 1 month is probably too strict, some cards don't start charging fees for up to a year. CC debt isn't an issue in and of itself, it's if people can't pay the balance and get hit with fees, which creates a debt spiral sending them towards larger issues like being evicted. I actually have a friend at work who makes very good money, but has something north of 6 figures of total CC debt across several cards. Him and his wife spend like drunken sailors, but he plays some stupid credit balance swap games to move the debt around every 6 months to avoid incurring fees and paying it off. He also gets millions of airline miles this way so they can go home and visit family in Taiwan several times a year, so maybe it's worth it. I personally cannot live knowing I owe that much in debt that could be hit with 20-30% monthly charges. -
1110
[Surly Official Firing Squad] Get David Pierce The Fuck Outta Here
The fact that this discussion is even happening - and is being mirrored in other places - is all CDC and whatever other deciders are involved need to know. Cut him loose, as soon as the fork is in the season. The real, actually meaningful, discussion is who do we want as his replacement? -
30
Sam Altman: Genius Good Guy or Elon-esque Bad Guy?
I take it you've never been a part of a PE backed company or a closely held private company, which almost always have them if they even let you keep your vested equity following termination (most have mandatory repurchase provisions). Vested equity clawbacks are also very common in public companies (required now, by Dodd Frank, and many are more expansive than that). Take a look at the "detrimental conduct" language in Bumble's EIP, for example: https://www.sec.gov/Archives/edgar/data/1830043/000119312521045254/d106038dex106.htm. People don't read their docs. Are they actually enforceable? Depends on the state and depends on the judge, but a lot of companies have them because they like the scary language to point to so they can coerce separating employees into signing a separation agreement. And put yourself in the CEO's shoes here. You have a company where reporters constantly hound your employees wanting them to leak. You just had a highly public spat with the board. You are highly desirable as a place to work and you have plenty of cash to pay hefty salaries. You want people to abide by their confidentiality agreements and the threat of cancelling their options is a great way to do that. His job is to protect the company and its shareholder value, and I'd bet every dollar in my bank account they signed proprietary information and confidentiality agreements upon starting employment. Again, I'm not defending Altman. There are plenty of reasons not to like him and we should focus on those.
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