Repository: BlackRock’s latest SEC filing values its Automattic shares at $14.33 per share. They originally invested at $85 a share in 2021. That means their market cap has dropped from $7.5 billion to $1.2 billion. My guess is when that happens the CEO if they want to keep their job, has to rethink the whole enterprise. And that usually doesn't happen until they get a new CEO. My guess is that's what we saw play out yesterday.
#
The last two episodes of season three of Silo on AppleTV prove that there is value in a three season, boring escapade of confusing, unlikable uninteresting characters, living their whole lives in a silo, fearing the outdoors -- if you have a clever way of accounting for all that at the end. Highly recommend watching just season three and pretending that none of the other stuff matters because it probably doesn’t. But I bet if I go back to the beginning and start over, I'll find there's more intrigue than I thought. I'll probably do it, will let you know. #WordPress emerged from the ashes of UserLand, something I am recently reacquainted with, working the last couple of months with Claude on a reboot of Frontier, this time written in JavaScript, running in Electron. But someone is sure to reboot Manila in this context, and Manila is at least a grandparent of WordPress. I'm following all kinds of trails as we test the product, codename Atlantis, against all the apps we wrote for it back then. #
2017: The thing people don't realize about storm surge, and they don't really explain it on TV, is this. If the ocean surges 1 mile inland, and you were on the beach before the surge, now you're 1 mile out to sea. In normal times you'd be pretty fucked if someone dropped you in the ocean a mile from shore. But you're in a hurricane. Huge waves. There's no one to rescue you. And (this is the part that will kill you) there are deadly objects in the water like buildings and trees and power lines, even a rope can entangle you and make it impossible for you to swim. And if you can't swim and you're a mile from shore, that's the end of you#
- Fair to say I was gobsmacked by the news late yesterday that Automattic's board had put their CEO, Matt Mullenweg, on paid leave. I've read lots of stuff about it, in news articles and in a Hacker News thread. And a lot of posts on Twitter by Matt, and the replies. #
- Are you a developer or a CEO?#
- It's a very unusual situation in my experience in tech. Matt was able to raise a lot of money for Automattic, so he has maintained a controlling interest in the company, even though it has raised hundreds of millions of dollars. I left my own startup, voluntarily, when I was a little older than Matt, and I didn't return. I never wanted to be the CEO of a tech company, and I expect that being the CEO wasn't really a good fit for Matt either. A CEO's job is very different from being a developer and idea guy which Matt clearly sees himself as. #
- Something has got to give, either you're a good CEO and the product languishes, or you focus on the product, and the company is unmanaged. In the cause of WordPress, I'd say it suffered in both areas. When I saw a chart of Matt's direct reports, I immediately saw a problem -- it was very long, iirc 60 people? No one can manage and guide that many people. Most of those people probably never get to talk one-on-one with the boss. #
- For me, even when I was CEO, I wanted to spend all day working on new software and working with five or six other devs doing the same. Digging back into the past with Frontier these last weeks has reminded me both how good that can be, and how utterly frustrating -- when the people you're working with don't understand the mission. It's not their fault, it's the visionary's job to explain it so they can understand, and that takes time. These days Claude is filling in for all that, and doing a fantastic but at times incredibly frustrating job trying to give me what I'm asking for, while not understanding what I'm asking for. But we move through those disconnects quickly now, compared to how it was a couple of weeks ago. We have the source of truth that we didn't have the last time around, in the 90s, we have the C source code of the kernel, the product we built in the 90s. And Claude is the easiest to manage, so far I only think I detect an ego, it never seems to resent me criticizing its work, sometimes in ALL CAPS with strong language. :-)#
- WordPress Lite#
- My wish for WordPress, in all its forms and shapes, is that it broaden its focus. I want a WordPress Lite, I implemented it, and it's sitting here ready to do a good deed for all the parties concerned esp the web and web developers. Maybe someone there will now have the time and be empowered to build out the product line beyond the narrow focus it has now. It doesn't matter what percentage of the web is WordPress, if it isn't going anywhere. The web needs help, and right now WordPress is pretty much asleep in regard to what's going on now in the web. And it could do so much to help the web get back on its feet. It should be a public resource as much as a profit machine for a few companies.#
- All roads lead to Om#
- One thing that opened my eyes about what Matt and Automattic are, was his story about how he and Om got together. "All roads lead to Om." What a great line, and based on the story, so true. A lot of things clicked for me then. I remember what a phenomenon Matt was when he arrived in California about 25 years ago? Very good looking young man, polite, quiet and rumored to get Web 2.0 better than anyone. This kind of thing happens in tech, and if you know everyone as Om did, and was liked by everyone, you could manage to hit the ball out of the park, investment-wise, and he did. Click click click. I had the individual facts but had no idea how they were strung together. I played a similar role at times in Silicon Valley, on both sides, as a bright young dude who "gets it" and as the gray beard who recognized the charm of a young new face and helped create a big money reality around it. There is a lot of snake oil in tech, before and even more now, and this one has had a long run, 2.5 decades, but it needs a new direction, because the money people aren't buying the magic any longer. That's probably imho really what Matt's firing is all about. #
- I actually have more to say about this, but I have to get back to my programming work. If you have a comment, here's a good place to post it. #