They're cutting 40% (edit: the post actually says "nearly half") of the workforce (4k out of 10k). That's huge.
The severance is 20 weeks of pay + 1 week per year of tenure, stock vesting through May, 6 months of healthcare, their corporate devices, and $5k cash.
That significantly more generous than the 12-16 week severance packages being doled out by big tech during the great layoffs of 2022-2023 if I remember correctly.
In 2023 Google gave 16 weeks plus 2 for every year of tenure, so not significantly less (and more if your tenure was >5 years), plus google also vested stock for entirety of the 16+ weeks.
China probably caught up the same way starting 40 years ago. Watching VHS tapes in English (or German, Japanese, or French) with Mandarin subtitles*. Clearly "never" is untrue because it's been done once already.
IMO this is all cyclical.
* This is metaphorical. Obviously there were also textbooks and research papers and technical manuals and everything else. The point is much of it came from abroad and they learned it all to the point that they're the experts today.
Actually it did pan out. You just weren't paying attention.
Chinese cities had terrible air quality 20 years ago. Now they don't.
The Chinese and Indian governments have climate change plans that they're actively working on, sometimes ahead of schedule. The current US government has banned the words "climate change" in official documents.
They'll treat you if you have a heart attack and make it in alive. They won't put you on blood thinners or statins 10 years before that to keep you out of the ER in the first place.
The ones that pan out create an ecosystem of related businesses, suppliers, and customers. They create millionaires and billionaires who go on to start their own companies. Strong businesses are a necessary, but not sufficient, condition for strong unions.
Is there a big overlap in experience building a 5MW project and a 10-20kw project? The former would involve, I imagine, more of a project manager, fund-raiser, and general contractor role for GP. The latter can be a DIY effort if they are handy and licensed. There's no way anyone is single-handedly installing the panels and inverters for a 5MW project in a reasonable timeframe.
Even the hardware, land acquisition, and permitting stories would be different, right?
Not diamonds, but olivine. And Dubai isn’t the only one who’d have an interest, anywhere with coastal property that likes to maintain it against erosion is a target for this, admittedly experimental, technique.
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