Maybe This Is Too Cool(radarblog.substack.com) |
Maybe This Is Too Cool(radarblog.substack.com) |
Following on from the 2008 credit crisis, events like these completely stopped in the financial sector and while they have returned since they are much more modest than they were.
For reference I discovered it a few minutes ago on the front page. It currently has 75 upvotes and was posted 1 hour ago. Another topic currently on the front page called "the scully effect" is 8 hours old and has 55 votes.
A frequent reason is the flamewar indicator lighting off, where comments > votes. Though this particular post seems to be running healthily under that ratio. Probably member flags, for whatever reason.
The title immediately annoys me as being excessively vague, FWIW.
... and having read most of the article ... despite my own strong aversion to Amazon, Inc., it's a fairly generic sort of corporate-vibe hit piece. There are things I'd criticise Amazon for, or even ways I might spin this piece. The subject and nature of criticism are ... weak sauce.
Fundamentally, it doesn't matter if it's irrelevant relative to total budget size, the simple fact is that if you promote a culture of one rule for me, and another for thee then you end up where people couldn't care less about the extra work you want them to do. And that costs you the money. Perception is reality and all that.
Like, it blows my mind that enough people at Amazon thought this was OK as they were laying off loads of people. Clearly the notion of frugality is pretty dead.
The fact that this part is objectively a drop in the bucket is how the execs justify it to themselves, but the fact is that Amazon didn’t need to have mass layoffs and doesn’t need to treat its workers with such disdain. Amazon has plenty of money. The parties the execs throw themselves are just one of a thousand ways they are taking that money they save by firing people and funneling it to themselves and the big investors rather than trying to improve the business itself. And it bodes poorly for the company in the long term, but none of the people involved care about that either.
Like, its not just one big account/corporate structure that allows for sending money from the party account directly to employees?
I of course am not justifying this - but someone has to be. There is a corporate structure in place, which isn't at all transparent, it seems, which allows for slush, and it all starts with the tax man, doesn't it .. the rock concerts are probably a writeoff for .. someone ..
I think it basically is one big account. At the end of the day it's the total revenues minus the total expenses that gives the total profit, and that profit is used for stock buybacks or dividends or acquisitions. Sure they track revenues and expenses for different areas separately, but since it's one company, it's really all one big account and they can and do give money from one area to another area as needed.