It’s probably callous, cold and indicative of my lack of a soul and possession of a dense lump of dark matter where my heart should be, but I don’t give a shit that Steve Ballmer cried a few tears yesterday at his goodbye meeting at Microsoft:
According to sources familiar with the meeting, Ballmer told employees “we will deliver the next big thing… we will change the world again.” During his hour-long speech, Ballmer discussed the Nokia deal and him passing over the CEO role to a new leader.
Ballmer’s right about one thing: once he’s gone, it’s probably more likely that Microsoft will do something big, because Bieber knows he did nothing but bobble opportunities while he was running that place into the ground. (Prime example: mobile.)
But I do have to give him one thing: he sure fucked Nokia hard. His double agent, Stephen Elop, went to Nokia and negotiated a contract that looked like this:
Elop was facing an instant, massive windfall should the following sequence happen to take place:
- Nokia’s share price drops steeply as the company drifts close to cash flow crisis under Elop.
- Elop sells the company’s handset unit to Microsoft under pressure to raise cash
- The share price rebounds sharply, though remains far below where it was when Elop joined the company.
Should this unlikely chain of events ever occur, Elop would be entitled to an accelerated, $25M payoff.
Through some strange coincidence, that very sequence of events actually did happen to take place between 2011-2013. Practically instantly after Elop was handed his contract. […]
Elop has refused to reduce the $25 million payout because he’s going through a divorce.