"effective immediately" means either... he doesn't have a contract with a notice period, or he does and is willing to forfeit any benefit from it like share options, etc.
One reason might be the share price has collapsed and he has no confidence in it coming back (pretty scandalous if he's the CEO!), or Meta has offered him inducements > what he's walking away from.
Good way to burn a lot of bridges. He's never going to be hired as CEO by anybody for the rest of his career.
CEOs manage to fail upwards their entire career, I don't suspect this will be any different. Just some "nerds on a forum" who got annoyed with his personal decisions.
100% this. The CEO at my last company squandered hundreds of millions of investor funds, and now he's the CEO at another company taking on hundreds of millions in debt.
Another example: current CEO of Cerebras, is an SEC felon from a prior company (for cooking the books), and now he's CEO of a public company.
yea this isn't "and another example just off the top of my head" - this guy co-founded seamicro then cerebras both pretty badass companies, he was a vp of marketing not ceo when the sec sued not just him but the entire executive team. trudging up 20 year old nonsense to try and punch a guy who legit deserves his success is bullshit
Cerebras is an 11 year old unprofitable company with a stock that is down 30% since the IPO, in the hottest market ever.
They've pivoted many times over the years trying to make "wafer scale" work in a variety of use cases, and they still haven't gotten it right.
By the way, the CTO is dumping stock left and right and the stock is down nearly 5% today alone...
everfrustrated · · focus · HN ↗
One reason might be the share price has collapsed and he has no confidence in it coming back (pretty scandalous if he's the CEO!), or Meta has offered him inducements > what he's walking away from.
Good way to burn a lot of bridges. He's never going to be hired as CEO by anybody for the rest of his career.
0x1ch · · focus · HN ↗
latchkey · · focus · HN ↗
Another example: current CEO of Cerebras, is an SEC felon from a prior company (for cooking the books), and now he's CEO of a public company.
urams · · focus · HN ↗
"failed up" is currently defined as founding a company that goes public and being its CEO. I'd love to know what success is.
gfody · · focus · HN ↗
latchkey · · focus · HN ↗
They've pivoted many times over the years trying to make "wafer scale" work in a variety of use cases, and they still haven't gotten it right.
By the way, the CTO is dumping stock left and right and the stock is down nearly 5% today alone...
<a href="https://www.marketbeat.com/instant-alerts/insider-cerebras-systems-nasdaq-cbrs-cto-sells-2507640000-in-stock-2026-09-28/" rel="nofollow">https://www.marketbeat.com/instant-alerts/insider-cerebras-s...
imdoxxingme · · focus · HN ↗
latchkey · · focus · HN ↗
imdoxxingme · · focus · HN ↗