Episode of My First Million with Sam Parr and Shaan Puri.
Transcript
Note: This transcript was auto-generated from YouTube captions. It may contain errors and lacks speaker identification. A full Gemini audio transcript will replace this.
Kind: captions Language: en [Music] uh emergency emergency podcast uh i had to do this saw this video the other day i was scrolling tick tock late into the night as i do i saw this tick tock couldn’t believe it i almost got out of bed right then to come record this but we’re doing it now okay this is the one of the most ridiculous things i’ve ever seen this guy is going to be skewered for this that’s my prediction this guy is going to he might get fired for this uh but he is definitely gonna get wrecked on all of social media for this um let’s just let’s listen to this so this is the ceo of a company called better.com they’ve raised like i don’t know 750 million dollars a big company they do i don’t know mortgages or some [ ] like that on the internet so uh here’s the ceo let’s just let’s just take a listen what’s this take a listen hi everyone um thank you for joining um already looks like a funeral i come to you with not great news um the market has changed as you know and uh we have to move with it in order to survive so that hopefully we can continue to thrive and okay the market has moved the market has moved what are you talking about uh you have all your employees on a zoom call right now obviously you have some quote not great news to share lesson number one and by the way how does this guy become a ceo of such a big company and not know rule number one if you’re letting someone go or you’re laying them off and you go into the meeting you gotta rip the band-aid off in the first minute and the first three things you say one of them has to be we’re gonna be letting you go today and then you start to explain everything when you do this you do this long-winded buildup people are a confused and b they get really pissed off and it’s just self-serving you’re trying to buffer the blow you’re trying to prevent the the blow from hitting you you can’t even say it you’re not you’re not even willing to say it so uh ridiculous okay let’s so the market has moved and we have to move with it so we can survive what is it is you’re shutting down the company what’s going on deliver on a mission a mission what mission this is the news that you’re going to want to hear uh but ultimately it was my decision and i wanted you to hear from me looks at his notes dude you still haven’t said it it’s been a really really challenging decision to make um are you okay are you has it been hard for you this is the second time in my career i’m curious and i do not do not want to do this the last time i did it i cried um this time i hope to be stronger but we are late oh my god what are you thinking dude i get what he’s thinking he’s thinking i want them to know that this is hard for me but dude you don’t understand what people are feeling right now they don’t first of all they don’t know what you’re saying you haven’t said it secondly you’re talking about how hard this is and the last time i cried no one gives a flying [ ] if you cried or not um because you still haven’t said it that’s also that’s the main problem the second problem is you’re talking about yourself and no one cares about you in this moment off about 15 of the company laying off their first races the you can hear a guy the guy who’s okay the guy who’s recording this by the way this is not the screen this is a guy pointing his camera at the phone and you heard him are you feeling serious efficiency performances and productivity [Laughter] and peanut butter market market performances what is this guy doing first of all he said we’re laying off 15 of the company he didn’t say which 15 yet now everybody is just thinking is it me is it not me they have no idea because he hasn’t brought the sledgehammer yet and look this is the scroll bar all right this down here is where he should have said it we’re now over here we’re almost at intermission of the movie and uh you know he still hasn’t said it so i can’t believe what he just said why did he say performances by the way he’s talking about the market has turned so oh is it my performance or is it the market princess if you’re on this call you are part of the unlucky group [ ] you dude i can’t even help but laugh [ ] you dude that is see that guy is saying what he’s supposed to say in this moment because of this [ ] up hype trailer teaser strategy that the ceo took you are you’re not a game show he thinks he’s jeff probst he thinks he’s a game show host and he’s setting up this cliffhanger that actually is pushing them off the cliff and then they’re they’re falling down to their death so he he comes in with you are one of the unlucky bunch unlike i thought you said it’s performance is it performance or is it unlucky or is it the market or is it peanut butter which one is it we don’t know yet your employment here is terminated effective immediately are you [ ] kidding me what does this mean for what’s next you’re going to get an email from hr ask hr better.com to your personal email address at and better.com benefits we’re all u.s employees we’re providing four weeks of severance also you dressed up like a douchebag on this day you award the douchebag uniform the blue collared shirt with the dark blue vest with the khakis that are a little too tight right around the crotch with the crotch facing the camera that is the douchebag that is the douchebag armor that you wore into this and then you’re reading it really slow off your piece of paper and you just have a bunch of people enraged at you right now i think there’s like i don’t know a thousand people in this call or something like that this is something crazy uh a lot of people 100 maybe hundreds of people on this call insane one month of full benefits and two months of cobra for which we will pay the premium so three months total benefits if we um if you elect for cobra if you don’t get a communication from ask hr better.com before the end of the day you can email ask hr better.com if you don’t get the email thank you for using everything individual contributions to better i wish the news was different i wish we were thriving enthusiastically as we were at the beginning of this year thriving enthusiastically doesn’t make sense uh you wish you were thriving of course you wish you were thriving you didn’t lose your job ceo who mismanaged during this time you didn’t lose your job they lost their job and you’re talking about you were crying last time but you weren’t crying this time and you probably didn’t even cry last time you probably don’t give a [ ] to be honest with you maybe you feel bad i actually i take the back he feels bad he feels bad he should feel bad but he handled it bad you can feel bad but you gotta handle it good he felt bad and handled it bad peanut butter that’s not the case i am sure you better finish strong be more successful where are you going what is this wedding speech and you’re drunk we i’m sure you will leave us what is he saying more fortunate and you’ll be more [ ] here in your next endeavor i wish you all the best of luck thank you for everything you’ve done for better thank you looks looks aggressively staged right did i do it can we end it can i go to lunch do we have my lunch did someone get my lunch and this guy this guy i gotta look this up ceo salary this might be public uh let’s see let’s see let’s see i feel like this guy so he laid off 900 people in that call we’re not going to pay for this paywall by the way what is the stealing part i didn’t hear this okay i don’t know i don’t know what that’s about that wasn’t in the video but uh yeah i feel like i read somewhere in a tweet now this might be total [ __ ] uh but i’ve read somewhere that this guy you know whatever uh something like 10 million dollars of compensation last year but that honestly he’s a private company so i don’t i don’t know what’s going on they have a spac of course they have us back of course they went public with us that’s back let’s see better it’s back yeah raised 750 million dollars from their stack backers they already had 1.5 billion from softbank so this guy easily easily this guy is this guy the founder michelle garg is he the founder he um google google said what company laid off 900 employees answer better.com uh i think this guy was the founder yeah founder and ceo so this guy easily this company’s valued multiple billions of dollars this guy is clearly worth over 500 million dollars probably go for more than a billion dollars and uh he’s talking about lunch and his douchebag outfit all right bad terrible way to do it uh there’s