“Cause I lost my job two weeks before Christmas. And I talked to Jesus at the sewer, and the Pope said it was none of his God-damned business.” -Rodriguez
I read the article. What a fucking whinger. What does he want? Empathy?
No empathy for CEOs.
Here is the field doth I grow my fucks. Lay thyne eyes upon it and see that it is barren.
Vishal Garg feels duped.
The irony.
Fuck you, Vishal Garg.
Also, fuck Mark Zuckerberg, just because I haven’t said it yet, today.
I feel sorry that it didn’t happen weeks before the holidays like what he did to his own employees. Let him sit with failure through Christmas dinner.
Garg on deez nuts, loser.
We shall garg on deez nutz
Garg, who made headlines for laying off 900 employees on a company Zoom just before the 2021 holiday season, says he was fired on August 3 just as he brought the company to the precipice of success.
Better has been through a lot with Garg at the helm over the past several years. During the pandemic-fueled refinancing boom when mortgage rates were below 3%, the company held an $8 billion valuation. Today, with an imploded refi business and rates closing in on 7%, the AI mortgage company’s market value stands at just $300 million.
Toss in a leave of absence after the embarrassing Zoom layoff fiasco, a whistleblower lawsuit (it was dropped), an investigation from the Securities and Exchange Commission (nothing came of it), a disastrous 2023 SPAC merger that sent the company’s stock cratering 93% and years of mounting losses … it’s a minor miracle that Garg lasted this long as CEO.
But Garg says he was just about to deliver on the company’s unlikely turnaround.
Oh brah, that sucks brah. But look, you know about AI so finding a new job will be a fun exercise for you as you realize all the hiring pipelines are completely broken because of AI.
Maybe I’m stupid, but how does a mortgage company lose valuation when premiums increase?
Like hello, your returns are now greater than before. Did they make some AI calculation, for locked interest rates for their customers and then financed it by taking on fluid interest rates as a company?
Their whole business model was based around getting people to refinance. When rates are up, people don’t refinance.
US mortgages are almost always fixed-rate, so increased interest rates don’t change the premiums for existing mortgages, hence the drive to refinance when rates are low.
C merger that sent the company’s stock cratering 93% and years of mounting losses
93%?! Fucking hell, that’s really bad.
I wish him very little success in his future endeavours.
I wish him bad luck and misery and misfortune in his future careers
May they all get Mangioned (Mangione’ed?)
Sorry, your former role is better carried out by AI and at a far lower price point. In fact, we’re about to replace the entire C-suite with AI.
But the leopards would never eat my face
Vishal Garg-le deez nuts!
