Evaluating only Better.com’s profile at its peak — without knowing the outcome — the model ranked Competition as the #1 likely cause. Documented cause: Founder chaos.
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Documented cause
Better.com CEO Vishal Garg fired 900 employees on a Zoom call in December 2021 — a PR disaster that dominated news cycles. The company then faced the mortgage market collapse as the Fed raised rates in 2022. With fewer mortgages originating, Better laid off thousands more employees and its SPAC IPO at $7B valuation ultimately priced at a fraction of that. The combination of leadership toxicity and macro timing destroyed the company's trajectory.
Lesson
“How you treat people in a downturn defines your brand permanently. The Zoom layoff of 900 people created a reputational liability that cost Better.com far more than the salary savings justified. Conduct is a compounding asset or liability — it compounds fastest in a crisis.”
FAQ
Why is Better.com famous?
Better.com CEO Vishal Garg fired 900 employees on a Zoom call in December 2021, calling them failures. The PR disaster was followed by the 2022 mortgage market collapse from Fed rate rises. The company's $7B SPAC valuation collapsed.