Thread regarding 2U Inc. layoffs

People don’t always want to accept the truth, because it doesn’t fit their simple narrative of this-person-is-bad or this-person-is-good.

The truth is that Chip is a sunshine and rainbows CEO who thrives in good times. He does care for people and he does care about education. He expects to accomplish success in a way where everyone is happy.

Chip is not a wartime CEO. He shys away from the hard decisions like cost cuts, job cuts, and restructurings. Investors lost faith in Chip because he was all sunshine and rainbows on earnings calls when the stock was down 99% off the highs. He didn’t make the hard decisions that were necessary to fix the company. He made empty promises, and he didn’t respect what investors were telling him.

The stock price is a voting mechanism.

We’ll see how investors rate Paul when he presents the 2023 year end and path forward in a couple weeks.

It might have been an inefficient company when Chip was the CEO. However, don’t forget that Paul was the financial person that should’ve kept it in check and he didn’t. That was his job and he wasn’t strong enough to push back. I for one have little faith 2U will not end up in bankruptcy. I truly hope I am wrong.

Also maybe you should direct your questions to the board bc they could have spoken up by FIRING CHIP…

@1evh+1qFQwS8C Just because YOU didn’t hear it doesn’t mean execs didn’t speak up. So you think execs who believe in 2u should quit when the CEO doesn’t listen vs doing their best to keep the company as healthy as possible while they push for change? K. Why don’t you tell your boss (non anonymously) that you quit bc you think the exec team should resign and they aren’t? Why are you bothering to take a behind the scenes non-public approach to pushing for change? If everyone should just yell from the rooftops publicly when a boss is making mistakes - and quit or threaten to quit when not being listened to - why does the anonymity on this site even exist? Why are you here?

Post ID: @1iuo+1qFQwS8C, if that is so....you continued to work with and for Chip/this company - even though you were rendered utterly helpless in your roles as execs?!??

What were you waiting (hoping) to eventually happen?! Were you waiting for Chip's ousting to come "someday" so that you could then "turn things around--finally run things the right way"?!

You never spoke up, even after the fact(s)!!

Greedy Cowards!!!!

Chip ran this co into the ground in spite of these execs. At least 2 of them were never even consulted about the edX purchase, let alone taking out a loan to buy it. The edX purchase with no plan on how to operationalize the merger other than “yay free marketing” and the purchase of trilogy without redundancies being looked at until THIS month - those are the primary issues and both of those were lead by Chip (and allowed by a board who didn’t question him). The amount of people who continue to think Chip asked for and listened to feedback from his execs make me lol. Chip continuously made decisions without giving a sh-t how those decisions would actually be operationalized (ex: edX, unlimited pto). It’s the board- who actually had power over him - that you should be asking to resign. At least a couple of the folks above tried desperately to hold the business together despite those decisions. And will continue to.

Paul gave some of the execs stock units that only vest if the stock closes w/an average price of $10 for like 3 weeks w/in 2 years. The way Paul is running the company is way different then how Chip ran it and it will show in the future.

100% Agreed!
And you'd better believe that each and every one of their stock options were cashed in at the most optimal of time$!

The least of them is worth a million $!