The Office Mandate

Hello, friends! Welcome to Bite Sized Beta, where we serve up tech insights so remarkable, you might confuse us for Amber Heard's latest escapades.

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This week’s highlights include:

• Freshly Baked: Elon is on the lookout for committed team members.
• The Big Pizookie: A piece of life advice that’s refreshingly genuine.
• Cookie Crumbs: Three standout moments from the week.
• Snickerdoodles: Because there’s never a bad time for a meme!

FRESHLY BAKED

It seems like every company is adopting remote work policies, including Apple, which recently softened its approach after facing significant employee backlash. But can we expect Elon Musk to follow suit? Absolutely not!

In a recent email to Tesla's workforce, Musk made it clear that all employees must clock in 40 hours a week at the office. No exceptions. He believes it's time to either get on board or step aside.

Think you’re senior enough to escape this rule? Think again. The new guidelines state that higher-ups need to be even more visible. If you choose not to show up, consider yourself out of the job.

As anticipated, this decision met some resistance, but Musk was quick with a retort: who would trust a vehicle designed by someone who has never seen it firsthand?

On the flip side, this could lead some non-manufacturing staff to seek opportunities elsewhere. Forcing a 40-hour in-office workweek is a tough sell, especially when compensation at Tesla lags behind competitors and perks like free kombucha are nonexistent.

Here’s a look at the pay disparity for Level 2 (entry-level plus one) software engineers:

• Tesla: $163,845
• Microsoft: $193,707
• Amazon: $238,849
• Meta: $268,309
• Google: $269,305

Tesla's stock has surged since the pandemic, yet there's still a significant pay gap—approximately 64% lower than Google. If you thought Jeff Bezos was frugal, Elon takes it to another level.

So, what’s Tesla's plan for attracting talent? They aim to recruit missionaries instead of mercenaries.

Let me elaborate.

According to John Doerr, the legendary venture capitalist who first invested in Amazon and Google, there are two types of employees: missionaries and mercenaries. Mercenaries are the ones you dread partnering with on projects. They prioritize their own interests above all else—short-term gains at the expense of long-term vision. While they may excel in their roles, their loyalty is as fleeting as a celebrity relationship.

Conversely, missionaries are driven by a greater purpose. They care about making a positive impact and are willing to endure short-term setbacks for long-term success. Companies like Tesla, with strict regulations and limited benefits, appeal to those seeking to make a significant difference.

Musk's recent email encapsulated this idea: if this vision doesn’t resonate with you, perhaps your motivations lean more towards mercenary than missionary, especially regarding Tesla's mission.

Elon is striving to build a team of missionaries. Mercenaries are encouraged to find other opportunities.

THE BIG PIZOOKIE

As graduation season unfolds, here’s a thoughtful piece of advice for all graduates (and anyone else): Mike Speiser, a venture capitalist, offers some of the best advice that veers away from cliché.

While I recommend you read the full piece, here’s a brief summary for your convenience!

Speiser draws a parallel between how we invest our money and how we invest our time. If you start investing in the stock market as a teenager, your money has decades to grow. You could potentially accumulate more wealth over time compared to someone who starts investing later, even if they contribute more initially.

This concept applies similarly to time investment. By engaging in work, skill development, or hobbies early on, you allow those investments to compound. By your 40s, you could be significantly ahead of those who chose leisure in their 20s. You’ll likely perform tasks faster because of the experience gained.

The key takeaway is that starting earlier leads to greater accomplishments later.

However, many people today desire a work-life balance, seeking to earn a fortune while enjoying leisurely lifestyles with ample vacation days. But if you indulge now, you might find yourself working harder later due to insufficient productivity. Conversely, if you put in more effort now, you will reap the rewards of a more enjoyable lifestyle down the line.

Neglecting to invest your time early in life is akin to spending your earnings on fleeting pleasures rather than on endeavors that appreciate over time. It’s time to discover your passion and start investing your time wisely!

COOKIE CRUMBS

Sequoia Capital cautions that a swift recovery from the current market downturn is unlikely. In a recent Zoom meeting with founders, they advised preparing for a long haul, as there are no more monetary or fiscal policy tools left to utilize for a quick rebound. Many investors, including David Sacks and Ray Dalio, are voicing similar concerns—brace yourselves; it’s going to be a lengthy winter.

The tech sector is facing significant layoffs, with over 90,000 job losses since March. Some notable companies affected include Bolt (fintech), Better.com (mortgage services), On Deck (networking platform), and Cameo (influencer messaging), each shedding around 30% of their workforce.

In major news, Sheryl Sandberg is leaving Meta to focus on philanthropy. After 14 years as COO and the architect of Meta's advertising strategy, her departure leaves a substantial gap in the company's leadership. Interestingly, she announced her resignation just minutes after the verdict in the Johnny Depp vs. Amber Heard trial—touché, PR team, touché.

SNICKERDOODLES

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