“He hoodwinked me,” the just-ousted Better Home & Finance CEO said about Daniel Lewis, the man who replaced him last week.
Yeah… admitting you got conned into trusting the guy who took your job sounds like a fantastic strategy for getting your CEO job back. If the new guy isn’t legit a good replacement, then you’ve proven yourself to be an easy mark. Either way, best not to reinstate you, dumbass.
Idiots like don’t realize they’re beholden to the whims of the shareholders, make disastrous reorganization moves which tanks the share price.
Which reminds me, AMC is also havign a shareholders vote right now. I think theyre down like 98% from a peak a few years ago?
Better [Home & Finance] later faced a whistleblower lawsuit that was dropped, a Securities and Exchange Commission investigation that produced no action, and a disastrous 2023 SPAC merger. The company’s stock fell 93% after the merger, while losses continued to mount.
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Better’s annual sales dropped from $1.5 billion in 2021 to $70 million in 2023. Garg says the company is now on track for $200 million in sales this year.
That’s, uhhh, quite a drop.
Better grew into a booming refinance market and did not have a gameplan for a return to “organic” home sale volumes. Having been on some of “those” zoom calls; Vishal comes off as a coked up, egotistical clown. He gives the vibe of projecting an air of being a sommelier but instead of wine it’s just him in a closet wafting farts.
They peaked at $8 Bn during the pandemic, too
