Pat just updated us saying Intel is Hiring 1000/week. Wonder how long more before he is removed. He absolutely couldn't do worse. Bob Swan was on a better track. This guy is so out of touch with reality. Down another 2% today.
21 replies (most recent on top)
The problem is feeding new people - whether RCGs or experienced people - into the arms of Intel's FLMs and SLMs. Rotten leadership has created a generation of Intel managers who kiss up and sp-t down, play politics, don't speak up and don't know how to actually manage people. New people - especially good ones - get wind of this and leave.
I am definitely not going to Apple. Where did you hear such an unfounded rumor? All that aside, I was just looking through the M1 specs the other day, it is so cool!
Rumor has it - Pat is talking to Apple - 2 jmp shp!!!
Well Bob Swan and Andy Bryant were slowly ki----g Intel anyway.
Lots of Financial engineering and bad bad bad technology leadership.
So Pat is trying to do a complete 180 from where the company was headed.
Give Pat another year and see where we are heading.
Vote Pat out or Intel will turn into HQ disaster that will never be fixed.
Pat is a total loser. Sad!
People on this board complain when Intel lays off people. Now they complain when Intel hires people? Why can't you just accept the fact that BK was a terrible CEO who made really bad decisions, but that chapter is over and move on. Pat is willing to spend money at the expense of shareholders. That's what Intel needs today.
@1kuy
Is there enough competence to overcome the incompetence? Time will tell.
IDM 2.0 is doomed, but maybe Intel can get back on track selling processors for big bucks.
Only seeing trolls who hate Pat. He’s fixing the BK mess that BS was to sleepy to bother with. You don’t fix problems like Intel has by turtling the company and trying to save your way out of it. That’s how tech companies die. Don’t take my word for it, walk through the tech graveyard and you’ll see that mistake over and over.
Pat is a fcking joke
Let me educate or remind you that nobody with talent wanted to be CEO after Otellini left. There was an extended gap before Krzanich and Renee James convinced the board to sc--w Intel into the ground. I think Swan did great for someone who never wanted the job. And now Pat - $125M offer. Intel paid to get the best. He has ejected many of the leadership problems at the very top, but I don't think he could imagine just how deep the incpetce goes in the employee base. Pat just brought back (literally yesterday) the tracking of "Objectives and Results". If you're an investor, you should be concerned about what they were tracking before. --Hopefully I didn't hurt anyone's feelings ...
Pat here. Just popped on to commend you for all the hours and hard work you are putting in. Remember that it is such a privilege to work here, where I started at the feet of the great Andy Grove, that you should be willing to work for free. And always remember, technology is magic!
@1sue+1dvNATPN note that TSMC did have a good yield quad-patterning of N7 (vs. Intel's 10nm patterning and low-R contact)
I'm trying to understand why the board thinks the hiring binge is problematic?
We are behind on process development. You fix such issues by throwing money and people at the problem. Has been that way since Andy Grove's days. He-l, TSMC gained its advantage by throwing money and people at EUV. (And not quad patterning; maybe the people who made those decisions for us need to be purged!) So Pat's following the only known path towards process leadership.
I've been with the Big I for long enough to know, this is how we solve problems ;)
Pat is so cringe
totally with @1cdb+1dvNATPN. Intel's real problem is the incompetent c-suite and middle management that were promoted by the previous incompetent CEO's.
I think that idm 2.0 will work if we execute our foundry well. I mean it should be an alternative at the least, and a better alternative, ideally, to TSMC. I think that with with hyoetscalers and companies like Apple, custom ASIC designs are inevitable. And doing logic is very competitive. Long gone the days when intel was the absolute VERY BEST. I am saying this because intel could be back to being the best design company again. I mean there are more flavors, CPU, GPU, etc etc. We have competition in all of them.
So we should have a leading foundry operation. It is a must and also there is support for it. No one wants to have one players - TSMC.
My worry is not IDM 2.0. I believe that’s is the right strategy. My worry is Pat has wrong people/person for such an important task. Pat should choose the best person to make that a reality.
Couldn’t do worse based on what, though? He didn’t exactly walk into a winning situation, and he did it in insane scenarios … COVID, supply chain, etc. I don’t love the guy for the job but have to think he’s got to have a little leeway … you can’t exactly move a ship this big overnight.
Pat is literally 10 years late. He should have been made CEO after PSO in 2012-2013 and avoided a decade of stupidity under the clowns BK and BS. However, at this point, his IDM 2.0 strategy is flawed. Better option was to spin-off the fabs into a pure-play foundry to directly compete with TSMC and focus the rest of the company on CPU/GPU/ASIC design to compete with AMD, Nvidia and provide custom-tailored designs to the hyperscalers. Intel is now a huge monolithic and obsolete dinosaur competing against much nimbler opponents in all fronts.
You must be joking. You are comparing Bob Swan to Pat. Crazy. Pat is by far the smartest CEO intel had for a long time. Paul O, Brian K, Bob Swan — all horrible. Bob was by far the worst. He had no technical understanding. His finance expertise also centered on foolish targets such as path to 300 and path to 30 both are bad targets for a finance to manage because opex % is a function of revenue. If you manage it purely through cuts, revenue will eventually suffer and you get into a downward spiral, needing to cut more to hit 30%.
Path to 300 is also a bad target for a finance guy. High Market cap is an indication of high future potential. He was clueless and insecure and surrounded himself with really bad charlatans. Promoted bad people. Just read his congratulations note for Sandra “do wonderful” this is a person who managed bus dev for intel sports whatever that means…he paid her to go to Davos while cutting necessary people and expenses.
How dare you compare Pat to Bob. My only concern is Pat came on board very late. He should have joined after BK.
Hopefully, he will get fired soon. Board is the biggest id--ts.