Insider Finance - Business - Insider Today: Threatening to quit

October 19, 2023 • 5 min read

with Dan DeFrancesco

Almost to the weekend! A 4,000-year-old slab could be a treasure map for Bronze Age riches in what sounds like the potential plot for an offshoot of the “National Treasure” series.  

In today’s big story, we’re looking at why giving your boss an ultimatum is a recipe for disaster. 

What’s on deck:

But first, do this or else!

Was this email forwarded to you? Sign up now

siraanamwong/Getty Images

The big story

I've had enough!

You’re fed up with your job and are finally going to let your manager know it: “Fix this, or I’m leaving.”

It doesn’t really matter what “this” is — pay, workload, or lack of upward mobility. Either way, you’ve given your manager an ultimatum.

And according to Chris Williams, a former VP of HR at Microsoft, that’s a big mistake. Threatening to leave rarely ends in the worker’s favor. 

In a bid to keep up with the never-ending stream of workplace trends, let’s call this one “thruitting.” (Yes, it needs some work, but you get the idea.)

You may feel empowered to take such an approach after the success of other worker-led trends. And with unemployment sitting at just 3.8%, the job market remains strong. 

But the power is reverting to the employer. Case in point: companies’ unflinching efforts to get workers back in the office.

Even employees at tech companies, long considered an ideal workplace, are feeling bummed. 

Regardless of your beef with your current gig, threatening to leave is probably not your best move. At best, you’ll limit future opportunities at the company; at worst, you might be shown the door, Williams warns.

simplehappyart/Getty Images

If you’re skeptical about this advice, it’s worth noting Williams has written extensively about workplace topics.

And he’s even warned about going to HR despite working in the department. 

Feedback should always be a two-way street, and employees should feel empowered to point out issues in the workplace. Negotiating better job terms isn’t just for when you start a new role. 

(For more on how to negotiate your dream job and why it’s about more than just pay, read this fantastic piece by Insider Today’s Diamond Naga Siu.)

But when it comes to ultimatums, they often do more harm than good. A worker's valid gripes regarding their job could get overshadowed when an ultimatum is issued. 

It’s also worth considering what got you to the point of issuing an ultimatum — or “thruitting” — in the first place. If things are that bad, why do you even want to stay?

3 things in

Markets

🔔 Before the opening bell: US stock futures fall early Thursday as investors await a speech from Fed Chair Jerome Powell later today. 

Scott Morgan/Reuters

1. Charlie Munger thinks it’s a lot harder to get rich these days. Warren Buffett’s right-hand man said there’s more competition for value investors than in the past. He also cited home prices, steep company valuations, and higher taxes as detriments to building wealth.

2. Everyone’s got thoughts on the bond market. Treasury yields hit 16-year highs early Wednesday. "Bond King" Jeffrey Gundlach says it’s time to buy long-dated Treasurys with a recession looming. But a note from Barclays makes the case for yields to climb higher, which would mean bond prices are still cratering.  

3. Here’s what a fund outperforming 99% of its peers invests in. Baron Partners Fund is up 1,003% over the past 15 years. One of the fund’s co-managers detailed six stocks he’s betting on for the long term (MSCI and FactSet) and the qualities he looks for in companies.

3 things in

Tech

Chiang Ying-ying/AP Photo

1. Get ready for “AI factories.” It’s a new type of manufacturing, according to Nvidia CEO Jensen Huang — the production of intelligence. These factories are meant to “accelerate the AI industrial revolution” and enable the development of technology like robots.

2. Billionaire investor Marc Andreessen’s controversial manifesto. It’s called "The Techno-Optimist Manifesto.” And one section in particular raised eyebrows for calling social responsibility an “enemy.”

3. The top AI tools that creators use to make content. A survey of 2,000 influencers revealed that they’re thinking about how — and how not — to incorporate the tech in their work. Some shared that AI has helped them reduce costs and create higher quality content.

3 things in

Business

Getty Images

1. This might be the best time to shop for an office. Office landlords are offering some pretty nice incentives to get skittish tenants to sign a lease: flexible leases, termination rights, better fitness amenities, and more.

2. The University of Pennsylvania is experiencing a major donor revolt. They’re pulling out over dissatisfaction with the university’s response to the Israel-Hamas war. Other elite higher education institutions have also drawn scrutiny.

3. Everything that happened during Tesla’s earnings call. Shares were trading down more than 3% around 40 minutes into the earnings call. Elon Musk was joined by the company’s new chief financial officer. Plus, Musk provided an update on the much-awaited Cybertruck.

In other news

What's happening today

SAUL LOEB/AFP via Getty Images

For your bookmarks

Free tax filing program

See if you’re eligible for the IRS’ new, free tax filing pilot in 13 states. It’s part of the department’s attempt to make tax filing simpler and more cost-effective.

The Insider Today team

Dan DeFrancesco, senior editor and anchor, in New York City. Diamond Naga Siu, senior reporter, in San Diego. Hallam Bullock, editor, in London. Lisa Ryan, executive editor, in New York.

Get in touch

insidertoday@insider.com

To read unlimited articles, subscribe to Insider.

Download the Insider app