Even 3.5 years ago, there was a chance to prevent a total collapse that we are now witnessing.
- Instead of cutting bloat gradually since 21, the clueless CEO hired 35k people. The crazy HR lady and the subservient CFO looked the other way.
- Instead of controlling spending, Pat gave massive raises, took ELT to Davos, kept flying charter jets. $100B Capex. Borrow like crazy. Oh so much more.
- Instead of fixing products, Pat hired retired grandpas like Sunil Shenoy and utterly clueless leadership like Shlomit. Then there were do-nothing leaders like Koduri.
- Instead of fixing TD, left clueless Ann in charge and forced an unrealistic and unnecessary schedule (5N4Y) that cost billions.
- Instead of actually focusing on understanding what went wrong, he then focused on begging Biden for $$$ and cooked up a national security story. Hint: China will never do something reckless in Taiwan. And even if they did, leading edge, chips from Intel would be the least of our problems. The world would still come to a screeching halt because most of the chips use legacy process nodes.
- When revenue tanked in 22, Pat did nothing. When revenue tanked in 23, he cut pay. Then restored it immediately because we had “bottomed out”.
- Of course, he was wrong, so when revenue tanked further in 24, he suddenly woke up and gave 20,000 a very generous severance that will end up costing the company $10B, effectively using up all our cash reserves.
- Literally 20000 people spent the last 10 weeks looking for jobs outside while waiting to collect their fat packages.
- Meanwhile, Gaudi bombed. Falcon Shores will never see light of the day. Xeon is being replaced by AMD faster than ever. Oh also, 18A - it’s going to be 2026 “a big maybe” until it becomes ready for manufacturing and it will be behind tsmc on cost and performance.
- Every day this buffoon stays at the helm is a day lost.
- Pat took a struggling yet cash rich company and literally put it on the fast track to bankruptcy.