Gets huge government grant
Fires 120% of staff
Uses ChatGPT to tweet gospel
Funnels the money into private car collection
Bungie could never compete with this CEO
this post was submitted on 05 Aug 2024
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Why the comparison to Bungie? Just very recently heard of Bungie's CEO being hated by former employees - out of the loop on this one
I know of the story but what's it have to do with Intel? Or is it meant to be like a comparison in shittiness?
Presumably because (among other things) spending a bunch of money on classic cars:
https://kotaku.com/bungie-pete-parsons-layoffs-classic-cars-sony-buyout-de-1851610196
He should have prayed harder over the decision to double down on selling auto immolating products for several years because it was cheaper than fixing the problem
His solution to the sell off is mass layoffs, stock buybacks, and r&d cuts.
You know, stuff you need the most when trying to save your business from itself.
A while back, I heard a theory that eventually, Intel will just be a fab producing AMD chips. Thought it was a long shot back then, but now it might be the company's best outcome.
That would be a lucky outcome for Intel, they can't compete with AMD's current fab (TSMC).
Getting away from Global Foundries was such a pivotal move for AMD.
Intel is supposed to be heading domestic chip production very soon. An Intel failure could have significant national security implications. The fed won't allow them to fail.
Should have been AMD :/
AMD has no chip fabs. They use TSMC like most other big chip companies. Intel is one of the few that has their own fabs.
At least for anti monopoly practices.
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This is likely already priced in and the reason they aren't completely gone.
What remains of Intel are their foundaries.
What do you mean "heading domestic chip production", Intel already produces chips in Phoenix.
Both tsmc and Intel are building brand new fabs in Phoenix, I can't be bothered to check but I'm pretty sure the capabilities will be pretty matched so they won't be heading or leading still.
The fabs they own now aren't competitive at the high end. Though I like to point out that this is myopic way of viewing the industry. Not every microcontroller needs TSMC 3nm; they're perfectly happy running them off for tens of pennies per unit on ancient nodes, and those chips go into every little piece of electronics that isn't thought of as a "real" computer. A huge portion of the pandemic supply chain issues (the ones that were actually valid and not just an excuse to raise prices) came from these little chips.
With that caveat in mind, the high end is still important.
The calls of "they took government money and then laid off employees" are off base. That government money is going into specific fab projects. Has nothing to do with the rest of the company. Unless there's some kind of siphoning of funds into the rest of the company (admittedly totally possible, but it needs specific evidence), that's not particularly relevant to Intel's situation.
The company should probably reorganize as strictly a fab and stop making their own stuff. AMD did very well for themselves by ditching their fabs into a separate company--Global Foundries--and then buying manufacturing capabilities from the best fab they could afford. Intel could go the opposite way, with AMD becoming one of their customers.
Thank you for clearing this up. I work in semi and I can't count how many times I've had to clarify how CHIPS Act and similar funding works.
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Nationalize it ftw
So... Does that mean you're buying the dip?
what the fuck? when i posted this comment i was asleep holding my phone, i somehow commented this while asleep
that’s why it’s just silence
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If you're new to the stock market then yes, because it means a discount!
My condolences to retirees who need to live off 401ks with no bonds. Everyone else, wee! Discount time!
line go down good? but i spent so long learning that line up good!
Line move is good. Line still bad.
oooh like the bleepy heart thing, damn my business major did not prepare me at all
Line up good when you have stonk. Line down good when you haven't stonk yet.
Line go down means stonks are on sale!
These really need to be posted with sauce dates.
Bcs it's funnier if this particular twatt (a post on Twatter) is more than 3 days old.
If you have to explain your joke . . .
Lowest it has been in 15 years
So good time to buy? Lol
Yes all in, take out a reverse mortgage
Do I need the own my home for this to work or can I use my landlords property as collateral?
The bigger the hole you can dig yourself into the larger the profit
Rule of acquisition one hundred something
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Huh, I was about to say that can't be right bcs of the overall "economy" growth in that period but yeah, you are right.
Company profits up but share price down? Fire some C-Suite.
Company has never profited and there's no plan but share price up? Give C-Suite performance bonuses.
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