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Joined 1 year ago
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Cake day: July 1st, 2023

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  • Its a yearly event that collects directors and above fork across the company to a week long “convention” that is supposed to be about building cohesive between leadership.

    The author went in 2022, when they had bon jovi play, and said it was just a boozy networking event where leadership was dictated to by the execs with no actual exchange of ideas.

    In 2022, Amazon made a record profits, but even then they were admonished to save money. Still, no layoffs.

    This year? They also made record profits, but had record layoffs, yet the party goes on.

    The authors overall point is that Amazon is successful by asking people to “lean in,” to go the extra mile. When you freeze wages and layoff 10,000s of people while threatening more and still throw your 10 million dollar party for yourself, you are telling good people to not only leave, but to lean right the fuck out before they do.




  • Infinite and astronomical are used interchangeably here. Since you have to return a share to the person you borrowed it from, if you borrowed 1000 shares at $5 and sold them to make 5k, if the price jumps to something like $350 like gamestop, it would cost you $350,000 to cover them.

    Making 5k to lose 350k might as well be an infinite loss ot that investor, even though its technically a “smallish” sum. At that scale, it would destroy most people.

    You can also pay to keep a short going generally and try to wait out the madness, but you have to stay solvent to do it. The very stupid and very surprising “diamond handing” apes caused some hedge fund issues, although I think most just shrugged into other financial instruments.