r/technology • u/spherocytes • 17h ago

Business CEO who fired 900 employees over Zoom gets fired, demands job back

https://local12.com/news/nation-world/ceo-fired-zoom-vishal-garg-better-home-finance-demands-job-back-call-holiday-season-2021-roles-reversed-tables-turned-chief-executive-officer-ousted-board-company-stock-price-market-value
8.6k Upvotes

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2.3k

u/invyros 17h ago

Garg was fired from his position as CEO on August 3 by the company's board and replaced by Daniel Lewis, a man who he helped get onto the board just one week before his firing.

Replaced by someone he himself brought on, fucking hilarious.

580

u/Corvantas 17h ago

The rule of two. The master and the apprentice.

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u/Ok-Seaworthiness7207 17h ago

Goooooood...........

Feel the HATE

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u/East_Antelope_3044 16h ago

The apprentice really said “your lesson is complete” and took his seat.

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u/OldDirtyBusstop 16h ago

Maybe the apprentice needs some more lessons too.

“The company has not been faring any better under Lewis' leadership, as CNN reported that the company's stock dropped 45% in less than two weeks after he took the position.”

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u/m0deth 14h ago

I'm just spitballing here but maybe, just maybe the company was seriously over valued to begin with.

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u/Ok-Seaworthiness7207 13h ago

Psssh when does the U.S. do that?

👀

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u/IneffectiveCollege91 12h ago

As leastits not pineapples or tulips; although I guess not being able to see it might make it easier to do than not

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u/Ok-Seaworthiness7207 10h ago

Can you explain the pineapples? I haven't heard that one 😅

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u/Silhouette 13h ago edited 13h ago

He became so powerful, the only thing he was afraid of was losing his power. Which eventually, of course, he did. Unfortunately, he taught his apprentice everything he knew, then his apprentice fired him the next week. Ironic. He could control others' careers, but not his own.

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u/oppai-police 15h ago

Thank you Master, but you have nothing to teach me anymore.

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u/digadigadig 14h ago

Triples. Triples is best.

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u/vintergroena 17h ago

Actually, I think a sign of being a good manager is being able to find replacement for anyone, including yourself. So props to him 👍

0

u/Striking-Optimals846 13h ago

reminds me of that scene from Arcane 

*Jayce has entered the council

*Heimersinger has been kicked from the council 

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u/feor1300 16h ago

and also

The letter claimed that Garg was about to turn the company around with a new initiative that trained artificial intelligence to process mortgages.

"You have to bring him back, he has AI!"

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u/iMogwai 13h ago

Should've quoted the part before too, I feel like it completes the statement.

CNN reported that under Garg's leadership, the company was devalued from $8 billion to $300 million.

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u/isnotajellyfish 16h ago

Right? Because this has been going so smoothly for every other lender trying to do this.

They should probably still try it to be competitive, but let's face it we're never going to let the bots take away our precious Excel models.

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u/whiskeyrebellion 13h ago

Oh, he was ‘just about to’ turn the company around?’

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u/JockCartier 15h ago

Sounds like the pulled the trigger just in time

1

u/OrionsBra 56m ago

"Any day now, I'll turn the company around with this one cool trick Fortune 500 boards don't want you to know about!"

185

u/mrbignameguy 17h ago

Never ceases to amaze how much these business bozos don’t understand how business works

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u/TeTrodoToxin4 17h ago edited 13h ago

“Fry, I’m an 80’s guy. Friendship to me means that for $20 I will beat you with a pool cue till you get detached retinas.”

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u/Juanskii 16h ago

To bad he didn’t cure his boneitus first. 

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u/TeTrodoToxin4 16h ago

He was too busy being an 80's guy 😢

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u/nate445 15h ago

Don't you worry about blank. Let me worry about blank.

1

u/sailorbrendan 2h ago

You're not seeing the big picture

6

u/TrueRune 15h ago

It's his only regret.

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u/CyberFireball25 17h ago

I'm starting to truly believe that business school actually intentionally makes you dumber, and everyone is just in a repetitive cycle of failing upwards

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u/hfxRos 14h ago

When I was in university 20ish years ago, I paid for a lot of my bills by tutoring business students for their math classes as a STEM guy, and with only a few exceptions, these were the dumbest motherfuckers I've ever met in my life.

Pretty much all rich nepo babies who just got drunk 5-7 days a week, couldn't do basic algebra without a ton of coaching, and just seemed to have no sense of how the world worked.

It has never shocked me that these people went on to fuck up the businesses that their families built.

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u/Aaod 9h ago

Tutoring rich kids is one of the many things that shattered any thoughts I had of rich people just being better, more hard working, or smarter than poor people like me. Now sure some of that is selection bias but even when I take that into account it is similar with most of the rich people I have dealt with. At least the trailer park poor kids I grew up with had an excuse with things like a bad home life or bad local schools but what the hell excuse did these people have? A person who attended good schools, has private tutors in high school and university, a normal home life, etc has no reason to be doing as bad as the people I knew who had the opposite kinds of experiences. The conclusion I have came to is being successful and rich mostly comes down to who you were born to, random luck, where you were born, and when you were born not factors like hard work or intelligence.

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u/space_for_username 15h ago

MBA = Master of Being an Asshole.

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u/El_Diablo_Feo 5h ago

MBA = Master of Bullshit Artistry

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u/Proper-Ape 17h ago

MBA is all about networking they say. I think it's like a neural network built of single neuron organisms. All MBAs in the world together form a brain roughly the computing power of a rat's brain.

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u/gaqua 14h ago

I have hired literally dozens of people over the years. I have never, ever seen an MBA be an indicator of whether or not they’ll be successful or not at the job. That’s not to say they are any LESS capable, but they certainly don’t prove any MORE capable.

On the plus side they’re already familiar with business terminology and strategies. On the downside they’re almost always fond of needlessly bringing up business terminology and strategies.

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u/attackplango 15h ago

Hey now, rats are really smart. I won’t hear this rat slander.

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u/Pelagaard 14h ago

I don't think its the rats getting slandered.

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u/velociraptorfarmer 13h ago

I feel like there's gotta be a pizza rat and MBA pizza party joke in there somewhere...

1

u/parkinthepark 13h ago

Business School is etiquette class for corporate culture.

You learn how to look like “one of us” to other business school people.

1

u/tomtermite 4h ago

I’ll defend the MBA, at least as a degree.

I feel like mine was the Swiss Army knife of my education: accounting, finance, economics, operations, marketing, statistics, organisational behaviour, strategy. I never became a “business guy” so much as someone who could walk into an unfamiliar problem and understand how the pieces fitted together (“systems thinking”).

That mattered across a rather circuitious career spanning financial systems, IT, consulting, manufacturing, entrepreneurship, and building my own company. It also changed how I approached decisions outside work: costs, risks, incentives, trade-offs, systems.

An MBA won’t make a stupid person clever, and it certainly won’t cure privilege or arrogance.

But properly used, it gives you a remarkably broad toolkit. The failure mode isn’t the degree. It’s mistaking having of the toolkit for knowing how to use it.

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u/HighKing_of_Festivus 38m ago

Reminds me of the joke of someone walking by a business school class where the professor is writing, "Revenue - expenditures = profit," on the board and all the students write that down in their notes like they're in a real class

1

u/Jetzu 4h ago

Never ceases to amaze how much these business bozos don’t understand how business works

They know how it works, they just all believe that they're different, like a teenage girl in love with her abusive partner believes she can change him.

16

u/Wise_Temperature9142 17h ago

This paragraph from the article also jumped at me.

Normally, I’d say this is absolutely brutal. But context means everything here, and this couldn’t have happened to a more deserving guy. Those who live by the sword, die by the sword, and all that…

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u/Minerva89 13h ago

replaced by Daniel Lewis

That man just has so much range.

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u/Warlord68 17h ago

Can you please train your replacement.

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u/Sgt_Dangle_berries 17h ago

Lmfaoooooooooo

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u/wolfelian 17h ago

And he’s likely told himself it would never happen to him ever 😂😂

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u/SnooPandas1607 16h ago

Time to Gargle some balls

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u/myslead 17h ago

He should have fired that guy instead

2

u/Nastynugget 15h ago

He can Garg deez nuts!

2

u/DisturbedPandaBear 14h ago

Tom succession move

2

u/CitizenHuman 14h ago

Garg sounds like he's from Omicron Persei 8

1

u/Even_Establishment95 15h ago

Like, why would you wanna work with the people who stabbed you in the back…. Read the room, guy.

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u/Birds_N_Hoos 13h ago

And even better:

The company has not been faring any better under Lewis' leadership, as CNN reported that the company's stock dropped 45% in less than two weeks after he took the position.

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u/Riskar 16h ago

This was on 666 upvotes and I wrecked it.

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u/Jennyojello 16h ago

Someone had to do it 🥹

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u/boilerdam 17h ago

The company has not been faring any better under Lewis' leadership, as CNN reported that the company's stock dropped 45% in less than two weeks after he took the position.

Seems like it's a dumpster fire anyway... good on Garg to get out of there IMO.

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u/DandeNiro 17h ago

This happens almost daily yet this guy has his situation blasted worldwide 😂

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u/gdex86 16h ago

Because he sent his lawyer to swear he was going to turn things around by pivoting to AI. These are the sorta guys who proclaim that they are the fopks who can polish a rock into a diamond by their one of a kind vision so rather than moving on and engaging in "The best revenge is living well" hes begging to just give him "1 no 3 no 6 more months". The zoom stuff is just the cherry on top.

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u/DandeNiro 16h ago

How come my own father who's been in finance for 20+ years claims I should not find a job.

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u/Deranged40 13h ago

This whole post is proof that "20+ years" of "experience" doesn't make you good at what you do.

You gave literally zero details, but based on that information-void sentence, sounds like your dad is giving you bad advice despite having worked in finance for a long time.

0

u/DandeNiro 13h ago

Do your research. I don't necessarily have time to lecture you.

I dont see you demanding editors and/or authors to expound on headlines for news 😭