Nancy Coye
6.9K posts
Jeff Bezos has $222 billion.
If he paid my wealth tax this year, we could fund insulin in America for everyone who needs it plus free school lunch for every kid in Texas—and have plenty of money left over.
And Bezos would still have $215 billion dollars to spare.
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@BillAckman @X I’m assuming you have enough money to drag this out for 10 years. I’m also assuming she does not.
Show her that you’re willing to make an example of her betrayal by seeing this through.
Go get her. Then sue her for your legal fees.
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I am reaching out to the @X community for advice with the likely risk of sharing TMI. I have been sufficiently upset about the whole matter that I have lost sleep thinking about it and I am hoping that this post will enable me to get this matter off my chest.
By way of background, I started a family office called TABLE about 15 years ago and hired a friend who had previously managed a family office, and years earlier, had been my personal accountant. She is someone that I trusted implicitly and consider to be a good person.
The office started small, but over the last decade, the number of personnel and the cost of the office grew massively. The growth was entirely on the operational side as the investment team has remained tiny. While my investment portfolio grew substantially, the investments I had made were almost entirely passive and TABLE simply needed to account for them and meet capital calls as they came in. While TABLE purchased additional software and other systems that were supposed to improve productivity, the team kept increasing in size at a rapid rate, and the expenses continued to grow even faster.
While I would periodically question the growing expenses and high staff turnover, I stayed uninvolved with the office other than a once-a-year meeting when I briefly reviewed the operations and the financials and determined bonus compensation for the President and the CFO. I spent no time with any of the other employees or the operations. The whole idea behind TABLE was that it would handle everything other than my day job so that I would have more time for my job and my family.
Over the last six years, expenses ballooned even further, employee turnover accelerated, and I became concerned that all was not well at TABLE. It was time for me to take a look at what was going on.
Nearly four years ago, I recruited my nephew who had recently graduated from Harvard and put him to work at Bremont, a British watchmaker, one of my only active personal investments to figure out the issues at the company and ultimately assist in executing a turnaround. He did a superb job.
When he returned from the UK late last year after a few years at Bremont, I asked him to help me figure out what was going on with TABLE. When I explained to TABLE’s president what he would be doing, she became incredibly defensive, which naturally made me more concerned.
My nephew went to work by first meeting with each employee to understand their roles at the company and to learn from them what ideas they had on how things could be improved. He got an earful.
Our first step in helping to turn around TABLE was a reduction in force including the president and about a third of the team, retaining excellent talent that had been desperate for new leadership.
Now here is where I need your advice.
All but one of the employees who were terminated acted professionally and were gracious on the way out (excluding the president who had a notice period in her contract, is currently still being paid, and with whom I have not yet had a discussion).
The highest compensated terminated employee other than the president, an in-house lawyer (let’s call her Ronda), told us that three months of severance was not enough and demanded two years’ severance despite having worked at the company for only two and one half years.
When I learned of Ronda's request for severance, I offered to speak with her to understand what she was thinking, but she refused to do so. A few days ago, we received a threatening letter from a Silicon Valley law firm.
In the letter, Ronda’s counsel suggests that her termination is part of longstanding issues of ‘harassment and gender discrimination’ – an interesting claim in light of the fact that Ronda was in charge of workplace compliance – and that her termination was due to:
“unlawful, retaliatory, and harmful conduct directed towards her. Both [Ronda] and I [Ronda’s lawyer] have spoken with you about [Ronda’s] view of what a reasonable resolution would include given the circumstances. Thus far, TABLE has refused to provide any substantive response. This letter provides the last opportunity to reach a satisfactory agreement. If we cannot do so, [Ronda] will seek all appropriate relief in a court of competent jurisdiction.”
The letter goes on to explain the basis for the “unsafe work environment” claim at TABLE:
“In early 2026, Pershing Square’s founder Bill Ackman installed his nephew in an unidentified role at TABLE, Ackman’s family office. [His nephew]—whose only work experience had been for TABLE where he was seconded abroad for the last four years to a UK watch company held by Ackman—began appearing at TABLE’s offices and conducting interviews of employees without a clear explanation of his role or the purposes of these interviews. During this period, he made a series of inappropriate and genderbased [sic] comments to multiple employees that created an unsafe work environment. Among other things, [his nephew] made remarks about female employees’ ages (“Tell me you are nowhere near 40”), physical appearance (“Your body does not look like you have kids”), as well as intrusive questions about family planning and sexual orientation (“Who carried your son? Who will carry your next child?”). These incidents were reported to senior leadership at TABLE and Pershing Square. Rather than being addressed appropriately, the response from senior management reflected, at best, willful blindness to the inappropriateness of [his nephew]’s remarks and, at worst, tacit endorsement.”
The above allegations about my nephew had previously been brought to my attention by TABLE’s president when they occurred. When I learned of them, I told the president that I would speak to him directly and encouraged her to arrange for him to get workplace sensitivity training. The president assured me that she would do so.
When I spoke to my nephew, he explained what he actually had said and how his actual remarks had been received, not at all as alleged in the legal letter from Ronda’s counsel. I have also spoken to others at the lunch table who confirmed his description of the facts. In any case, he meant no harm, was simply trying to build rapport with other employees, and no one, as far as I understand, was offended.
Ironically, Ronda claims in her legal letter that TABLE didn’t take HR compliance seriously, yet Ronda was in charge of HR compliance at TABLE and the person who gave my nephew his workplace sensitivity training after the alleged incidents. In any case, Ronda, as head of compliance, should have kept a record or raised an alarm if indeed there was pervasive harassment or other such problems at the company, and there is no evidence whatsoever that this is true.
So why does Ronda believe she can get me to pay her nearly $2 million, i.e., two years of severance, nearly one year of severance for each of her years at the company? Well, here is where some more background would be helpful.
Over the last two months, I have been consumed with a major family medical issue – one of my older daughters had a massive brain hemorrhage on February 5th and has since been making progress on her recovery – and I am in the midst of a major transaction for my company which I am executing from a hospital room office next to her . While the latter business matter is publicly known, the details of my daughter’s situation are only known to Ronda because of her role at our family office.
Now, let’s get back to the subject at hand.
Unfortunately, while New York and many other states have employment-at-will, there has emerged an industry of lawyers who make a living from bringing fake gender, race, LGBTQ and other discrimination employment claims in order to extract larger severance payments for terminated employees, and it needs to stop.
The fake claim system succeeds because it costs little to have a lawyer send a threatening letter and nearly all of the lawyers in this field work on contingency so there is no or minimal cash cost to bring a claim. And inevitably, nearly 100% of these claims are settled because the public relations and legal costs of defending them exceed the dollar cost of the settlement. The claims are nearly always settled with a confidentiality agreement where the employee who asserts the fake claims remains anonymous and as a result, there is no reputational cost to bringing false claims.
The consequences of this sleazy system (let’s call it ‘the System’) are the increased costs of doing business which is a tax on the economy and society. There are other more serious problems due to the System. Unfortunately, the existence of an industry of plaintiff firms and terminated employees willing to make these claims makes it riskier for companies to hire employees from a protected class, i.e., LGBTQ, seniors, women, people of color etc. because it is that much more reputationally damaging and expensive to be accused of racism, sexism, and/or intolerance for sexual diversity than for firing a white male as juries generally have less sympathy for white males.
The System therefore increases the risk of discrimination rather than reducing it, and the people bringing these fake claims are thereby causing enormous harm to the other members of these protected classes.
So what happened here?
Ronda was vastly overpaid and overqualified for the job that she did at TABLE. She was paid $1.05 million plus benefits last year for her work which was largely comprised of filling out subscription agreements and overseeing an outside law firm on closing passive investments in funds and in private and venture stage companies, some compliance work, and managing the office move from one office to another. She had a very good gig as she was highly paid, only had to go into the office three days a week, and could work from anywhere during the summer.
Once my nephew showed up and started to investigate what was going on, she likely concluded that there was a reasonable possibility she would be terminated, as her job was in the too-easy-and-to-good-to-be-true category. The problem was that she was not in a protected class due to her race, age or sexual identity so she had to construct the basis for a claim. While she is female and could in theory bring a gender-based discrimination claim, she reported to the president who is female and to whom she is very close, which makes it difficult for her to bring a harassment claim against her former boss.
When my nephew complimented a TABLE employee at lunch about how young she looked – in response to saying she was going to her 40-year-old sister’s birthday party, he said ‘she must be your older sister’ – Ronda immediately reported it to our external HR lawyer. She thereby began building her case.
The other problem for Ronda bringing a claim is that she was terminated alongside 30% of other TABLE employees as part of a restructuring so it is very difficult for her to say that she was targeted in her termination or was retaliated against. TABLE is now hiring an external fractional general counsel as that is all the company needs to process the relatively limited amount of legal work we do internally. In short, Ronda was eminently qualified and capable and did her job. She was just too much horsepower for what is largely an administrative legal role so she had to come up with something else to bring a claim.
Now Ronda knew I was a good target and it was a good time to bring a claim against me. She also knew that I was under a lot of pressure because on March 4th when Ronda was terminated, my daughter had not yet emerged from consciousness, she was not yet breathing on her own, and my daughter and we were fighting for her life. I was and remain deeply engaged in her recovery while at the same time I was working on finishing the closing for the private placement round for my upcoming IPO.
Ronda also knew that publicity about supposed gender discrimination and a “hostile and unsafe work environment” are not things that a CEO of a company about to go public wants to have released into the media. And she may have thought that the nearly $2 million she was asking for would be considered small in the context of the reputational damage a lawsuit could cause, regardless of the fact that two years of severance was an absurd amount for an employee who had only worked at TABLE for 30 months.
She also likely considered that I wouldn’t want to embarrass my nephew by dragging him into the klieg lights when her claims emerged publicly.
So, in summary, game theory would say that I would certainly settle this case, for why would I risk negative publicity at a time when I was preparing our company to go public and also risk embarrassing my nephew.
Notably, she hired a Silicon Valley law firm, rather than a typical NY employment firm. This struck me as interesting as her husband works for one of the most prominent Silicon Valley venture firms whose CEO, I am sure, has no tolerance for these kinds of fake claims that sadly many venture-backed companies also have to deal with. I mention this as I suspect her husband likely has been working with her on the strategy for squeezing me as, in addition to being a computer scientist, he is a game theorist. My only advice for him is to understand more about your opponent before you launch your first move.
All of the above said, gender, race, LGBTQ and other such discrimination is a real thing. Many people have been harmed and deserve compensation for this discrimination, and these companies and individuals should be punished for engaging in such behavior.
Which brings me to the advice I am seeking from the X community.
I am not planning to follow the typical path and settle this ‘claim.’ Rather, I am going to fight this nonsense to the end of the earth in the hope that it inspires other CEOs to do the same so we shut down this despicable behavior that is a large tax on society, employment, and the economy and contributes to workplace discrimination rather than reducing it.
Do you agree or disagree that this is the right approach?
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@BillAckman @X Holy fuck! I’ll bet exactly ZERO people read that. And I like you, I’m sure you’re happy about that.
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@BillAckman @X Don’t settle. You strike me as a pit bull. I don’t see anyone taking advantage of you. 🔥
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@shanaka86 "The Army woke up April 3 with a new chief it did not choose." When was the army a democracy that voted on its leadership?
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JUST IN: You do not fire your Army Chief of Staff in the middle of a war for no reason. You fire him because of what comes next.
Pete Hegseth called General Randy George on April 2 and told him to retire immediately. The Pentagon confirmed it within hours. No reason was given. Not publicly. Not privately. A senior Army official told Fox News that Hegseth offered George nothing: no misconduct, no operational failure, no policy disagreement on the record. Just a phone call and a career ending in the middle of the most significant American combat operation in two decades.
George is the 24th general or admiral Hegseth has removed. But he is not the 24th. He is the one that matters. The Army Chief of Staff. The man whose signature sits between a president’s intent and the order that sends soldiers across a beach or into a tunnel complex. The 82nd Airborne is deploying right now. Marines from the 31st MEU are staged on the USS Tripoli. JSOC operators are at forward bases in Israel, Jordan, Saudi Arabia, and the UAE. Kharg Island, 90 percent of Iranian oil exports, sits 16 kilometres off a coast that someone will have to decide whether to approach. And the four-star general whose job it was to advise whether that approach should happen was removed 48 hours after Trump told the nation the war would continue for two to three more weeks.
The replacement is Vice Chief General Christopher LaNeve. He was Hegseth’s senior military aide before this appointment. The man who carried the Secretary’s briefcase now commands the Army the Secretary is reshaping. The chain of command did not break. It shortened. The distance between a television studio and a combat order just collapsed to zero intermediaries who were not personally selected by the man giving the order.
No reason was given. That is the tell. When someone is removed without explanation during a crisis, the explanation is the crisis itself. George either objected to something or was about to. The ground option. The power plant strikes. The Kharg raid. The escalation that turned a highway bridge in Karaj into rubble on the same day he was told to leave. Something in the next two weeks requires a chief who will not push back, and the Pentagon solved that problem by installing one trained as Hegseth’s aide.
A former Fox News weekend host just fired a four-star general with combat tours in Iraq and Afghanistan, replaced him with his own former assistant, and did it during a live war in which the next decision could put American soldiers on Iranian soil for the first time in history. No hearing was held. No misconduct cited. The Army woke up on April 3 with a new chief it did not choose, in a war it did not start, preparing for a phase the previous chief apparently could not be trusted to execute.
The question is not why George was fired. Every general in the building knows why. The question is what order is coming in the next fourteen days that required removing the one man in the chain of command who might have said no.
The war has no perimeter. The chain of command has no objectors. And the next phase has no one left to stop it.
open.substack.com/pub/shanakaans…
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@MichaelAArouet The secret sauce is a 45-day disclosure lag and a front-row seat to legislation before it's public.
NVDA before the CHIPS Act wasn't a trade. It was a calendar.
That's not investing. That's information arbitrage with a congressional badge.
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Honestly, how is someone investing just as a side hustle able to continuously beat both the S&P 500 and Warren Buffett?
What's the secret sauce?
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@MichaelAArouet Oh, so you’re certain it’s not in a blind trust like other politicians?
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@MichaelAArouet @terrytaillard Its because Pelosi's husband uses options and aggressively bullish on tech, Buffet prefers cash now companies so over full cycle lower returns. Buffet could get higher returns if he was happier with more risk
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@MichaelAArouet @terrytaillard Exactly. Helps to be a member of Congress.
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@terrytaillard Wouldn't that be both illegal and immoral?
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Food for thought.
Trump, Hormuz and the End of the Free Ride
For half a century, Western strategists have known that the Strait of Hormuz is the acute point where energy, sea power and political will intersect. That knowledge is not in dispute. What is new in this war with Iran is that the United States, under Donald Trump, has chosen not to rush to “solve” the problem. In Hegelian terms, he is refusing an easy synthesis in order to force the underlying contradiction to the surface.
The old thesis was simple: the US guarantees open sea lanes in the Gulf, and everyone else structures their economies and politics around that free insurance. Europe and the UK embraced ambitious green policies, ran down hard‑power capabilities and lectured Washington on multilateral virtue, secure in the assumption that American carriers would always appear off Hormuz. The political class behaved as if the American security guarantee were a law of nature, not a contingent choice. Their conduct today is closer to Chamberlain than Churchill: temporising, issuing statements, hoping the storm will pass without a fundamental reordering of their responsibilities.
Trump’s antithesis is to withhold the automatic guarantee at the moment of maximum stress. Militarily, the US can break Iran’s residual ability to contest the Strait; that is not the binding constraint. The point is to delay that act. By allowing a closure or semi‑closure to bite, Trump ensures that the immediate pain is concentrated in exactly the jurisdictions that have most conspicuously free‑ridden on US power: the EU and the UK. Their industries, consumers and energy‑transition assumptions are exposed.
In that context, his reported blunt message to European and British leaders, you need the oil out of the Strait more than we do; why don’t you go and take it? Is not a throwaway line. It is the verbalisation of the antithesis. It openly reverses the traditional presumption that America will carry the burden while its allies emote from the sidelines.
In this dialectic, the prize is not simply the reopening of a chokepoint. The prize is a reordered system in which the United States effectively arbitrages and controls the global flow of oil. A world in which US‑aligned production in the Americas plus a discretionary capability to secure,or not secure, Hormuz places Washington at the centre of the hydrocarbon chessboard. For that strategic end, a rapid restoration of the old status quo would be counterproductive.
A quick, surgical “fix” of Hormuz would short‑circuit the dialectic. If Trump rapidly crushed Iran’s remaining coastal capabilities, swept the mines and escorted tankers back through the Strait, Europe and the UK would heave a sigh of relief and return to business as usual: underfunded militaries, maximalist green posturing and performative disdain for US power, all underwritten by that same power. The contradiction between their dependence and their posture would remain latent.
By declining to supply the synthesis on demand, and by explicitly telling London and Brussels to “go and take it” themselves, Trump forces a reckoning. European and British leaders must confront the fact that their energy systems, their industrial bases and their geopolitical sermons all rest on an American hard‑power foundation they neither finance nor politically respect. The longer the contradiction is allowed to unfold, the stronger the eventual synthesis can be: a new order in which access to secure flows, Hormuz, Venezuela and beyond, is explicitly conditional on real contributions, not assumed as a right.
In that sense, the delay in “taking” the Strait, and the challenge issued to US allies to do it themselves, is not indecision. It is the negative moment Hegel insisted was necessary for history to move. Only by withholding the old guarantee, and by saying so out loud to those who depended on it, can Trump hope to end the free ride.
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@libsoftiktok acosta discovering “propaganda” is only bad when it’s not pointed at his preferred target is a beautiful late-stage career pivot.
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Fake news reporter Jim Acosta is worried that CNN will become a "propaganda network" if they attack Trump less.
Who wants to tell him?
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@libsoftiktok @Acosta lives in his own world. It's why he couldn't even keep a job at a shithole company that STILL employs Abby Phillip.
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@libsoftiktok He must be living in a literal nuclear bunker if he’s just “worried” about them being a propaganda network.
CNN has been deepthroating the democratic party, with zero gag reflex, for decades.
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@BrandonStraka I disagree. I want someone COMPLETELY guided by politics. In fact I'm still waiting for retribution....
But he's a fucking retard and hopefully goes nowhere near the DOJ.
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Trey Gowdy calls for a reset at DOJ, arguing the attorney general must be independent and guided strictly by facts, not politics.
“We have to change our expectations… get the politics out of the department.”
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Sort of.
Yes, I believe partisanship has no place at the FBI.
On the other hand, I believe that, for the good of the country, the seditious group which tried to hamstring the Trump administration in his first term, and the lawfare pushers who tried to sabotage his 2024 campaign need to be prosecuted to the fullest extent of the law.
We need to discourage this kind of activity from ever happening again.
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@BrandonStraka The Banty Rooster is a boob. I want arrests, I want convictions, and I can't say on X what I might really want.
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@BrandonStraka Walking Rino who hates the President.🇺🇸
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