It all sounds so eerily familiar
He puts the blame for Rackspace’s deepening financial struggles — it’s posted a steady string of quarterly losses, and the value of its stock has fallen 80 percent in the past year — on its replacement of tech-oriented leadership with board members and managers “who don’t have any connection with the product.” He said there’s “no culture” at the company after it laid off hundreds of local staffers while it expanded globally. And he scoffed at the idea of being a “Racker,” saying he never adopted the term the company uses for its employees and identity.
Rackspace ‘on trajectory of death,’ founder Richard Yoo says