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Thought this was interesting. Across 160 teams of researchers, just about all failed to make good life outcome predictions on things like GPA, evictions, layoffs, and others. Data followed 4.5k families across 15 years, with 13k features (varied over time). Haven't looked at it directly yet, but will be turning the docs and data inside out... In the meantime, authors claim this as showing the limits of ML. Oh, and it's published in PNAS, so you know there's some big publication energy there.
https://www.pnas.org/content/117/15/8398
any telltale signs of layoffs in tiger?
Layoffs at Walmart corporate 😬😬
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What kind of answer are you looking for? The answer is not that frequently but it does happen. One of the promotion criteria you have to meet is resiliency to changes in the market for your specific skills.
Sounds like a never-ending sprint to me
At Deloitte, it is much more often these days. It isn’t firing in the traditional sense and usually comes with a decent package. But expectations on partners have risen and many have not been able to keep up. The way it tends to happen is that under performing partners will have units taken away and if performance does not improve the firm will suggest a new career path and the partner will see the writing on the wall.
I’ve heard there is some sort of “vesting” period for new partners and if you don’t perform during that time you can be let go
D1 - it is independent of vesting period. What P1 said is exactly the way it happens
Essentially if you’re not performing, your cash flow will fall enough to incentivize you to leave
Context - I’ve seen many managers or even SMs who perform at par but don’t go the extra mile. They are happy where they are at and the firm kinda sees and agrees to it. As for partners - I was curious because the expectation is to grow the pie so in the event the expectation is not met - would it be much harder to force someone out? Is it a consensus based system of a group or all partners or does someone really high up still pull the trigger ?
Interesting. Does the partnership buy back the underperforming person's units in that case? I suppose there's a contractual element that says the partnership can force that purchase in this situation?
So making “partner” isn’t the same as being a business owner. More like a leadership level person still proving himself day in and day out?
Being a partner sounds stressful and work life balance sounds awful, but so many of them seem cool under pressure. I don’t know if I’d ever be ready to handle all the other crap they deal with.