
Ask HN: Who else got fired today? - blackwednesday
So far I&#x27;ve heard of:<p>* Apartment List (13% per The Information)<p>* Carta (16% per The Information)<p>* Opendoor (35% per The Information)<p>Any others? Interesting that they were all announced on the same day, is it possible that there was some coordination, especially by VCs trying to staunch the blood loss within their portfolios?
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smileysteve
I don't understand why Carta or Opendoor should be affected by Coronavirus.

Carta: Offering stock options to your employees does not seem to be something
short term enough that 2-3 months of slowed business cycle would impact sales.

Opendoor: Anecdotally, I know of multiple people who have sold houses above
listing in my market, others buying at or above market, and realtors doing
tours (both virtually and in person). And 35% is a drastic cut.

One theory is that this is reducing operating expenses to not have to raise
funds this year.

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chris11
Techcrunch wrote an article in May 2019 about Carta raising a Series E. They
also reported an annual revenue run rate of 55 million with nearly 600
employees. That's less than 100k per employee. I'm not sure if Carta's
profitable.

[https://techcrunch.com/2019/05/06/carta-was-just-valued-
at-1...](https://techcrunch.com/2019/05/06/carta-was-just-valued-
at-1-7-billion-by-andreessen-horowitz-in-a-deal-some-see-as-rich/)

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smileysteve
I have no doubt that they aren't profitable and will need to raise additional
money.

May 2019 gives some grips to the timing though; A 2 year expansion runway on a
raise is pretty standard, so while they will likely be talking to investors
this year, if they limit expansion, they should presumably be safe through
2021. But how much will their business growth metric be impacted; restaurants
and face to faces weren't their business, but technology companies, and most
likely those near or over a year old who have raised a round.

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dandanio
* Groupon (44%) - [https://www.chicagobusiness.com/john-pletz-technology/groupo...](https://www.chicagobusiness.com/john-pletz-technology/groupon-cutting-2800-jobs)

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llamataboot
Laid off != Fired

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Allvitende
Hm. Yes, it actually does. It's just a nice way of putting it.

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vsskanth
Fired - removed from your position "for cause" \- can be performance, breaking
company policy etc.

Laid off - company's business situation has changed and does not require your
services anymore - no fault of yours.

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rhizome
My impression is that there is a legal issue in calling something a layoff, in
that the position has to have been eliminated.

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vsskanth
I believe you don't qualify for unemployment insurance if you are fired, as
opposed to laid off.

~~~
rhizome
Yeah that's the basic difference, but I believe there's also something
accounting-ish or tax-y about it, too.

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loeg
Dell (today) announced no raises for the year, no hiring, and for non-exempt,
no overtime approval (without a lot of authorization).

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oceanghost
Christie Digital (the makers of the digital movie projectors for AMC among
people), is doing layoffs today... I haven't heard anything yet.

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abhi3
VSCO let go 30% staff today

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xwdv
There’s firings everyday, it only looks coordinate because you look at one
day.

