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CrowdStrike is sued by shareholders over huge software outage
(www.reuters.com)
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this post was submitted on 01 Aug 2024
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By its own shareholders?
Are they just trying to get some money out before class actions from its customers decimate the company?
Fun fact: Decimation is originally a Roman practice. It’s a form of punishment where every tenth man in a group was executed by members of his cohort.
The bastard Jack Welch implemented this as a business practice with a sanitized name: rank your team, fire the worst 10%, even if the team did great.
Shareholders cheered at this practice. They bought shares in droves when businesses literally decimated themselves. Shareholders are mostly glorified gamblers with a boner for hardship. Making employees suffer is just dandy, as long as it can be sold as an improvement.
My point is that shareholders usually don’t know wtf they’re doing. This doesn’t surprise me.