On Friday, Pichai announced the difficult decision had been made to eliminate around 12,000 jobsor 6% of the firms global workforce.

However, in a letter dated Jan. 20, Christopher Hohn who revealed toward the end of last year that his hedge fund held a $6 billion stake in the Google parent company wrote to Pichai to urge the tech giant to take the job cuts much further.

TCI Fund Management, founded by Hohn in 2003, used to count current U.K. Prime Minster Rishi Sunak as an employee and was named the worlds best-performing large hedge fund in 2019.

While Hohn said was encouraged to see that [the company is] taking some action to right size its cost base, he insisted Alphabet must lay off many more workers than the 12,000 specified.

According to Hohns letter, Alphabet has more than doubled its headcount over the last five years, with more than 30,000 employees hired in the first nine months of 2022 alone.

The decision to cut 12,000 jobs is a step in the right direction, but it does not reverse the very strong headcount growth of 2022, he argued.

I believe that management should aim to reduce headcount to around 150,000, which is in line with Alphabets headcount at the end of 2021. This would require a total headcount in the order of 20%.

A spokesperson for Alphabet was not immediately available when contacted by Fortune.

Cut staff pay

As well as lowering operational costs by conducting mass layoffs, Hohn suggested that Alphabet should look to employee compensation packages as another area that could be used to trim the corporations outgoings.

The median salary at Alphabet in 2021 amounted to nearly $300,000, and the average salary is much higher, he said in his letter to Pichai.

Competition for talent in the technology industry has fallen significantly, allowing Alphabet to materially reduce compensation per employee. In particular, Alphabet should limit stock-based compensation given the depressed share price.

Alphabet, like many other big tech companies, saw its share price plummet in 2022. Over the past 12 months, its stock has shed around 25% of its value.

Many large cap companies within the sector have announced major layoffs in recent months, including Microsoft, Amazon and Meta.

While arguing that Alphabet employees should be paid less, Hohn himself has seen his own income surge over the past year.

The TCI Fund Management founder and director paid himself a dividend of almost $690 million last year; the equivalent of almost $1.9 million a day.

The payout is believed to be the highest annual amount ever paid to a single person in Britain. It is more than 15,000 times as high as the U.K.s median salary of 33,280 ($40,585), and broke Hohns own record that was set when he paid himself $479 million last year.

What is Christopher Hohns net worth?

According to Bloomberg, Hohn has a net worth of around $7.5 billion.

He is also one of the U.K.s most prominent philanthropists, giving away $386 million through his charity, the Childrens Investment Fund Foundation, in 2019.

One of his major philanthropic endeavors is funding efforts to alleviate the climate crisis, which he has made a central pillar of both his charity and his hedge fund.

In the past, he has publicly called for firms that dont make climate disclosures to be punished, and TCI has threatened to dump its stakes in companies that have no emissions-reduction strategies in place.

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Microsoft, which already plowed $1 billion into OpenAI in 2019 and invested again in 2021, is seeking an inside edge on some of the most popular and advanced artificial intelligence systems as it competes with Alphabet Inc., Amazon.com Inc. and Meta Platforms Inc. to dominate the fast-growing industry. 

OpenAI needs Microsofts funding and cloud-computing power to crunch massive volumes of data and run the increasingly complex models that allow programs like DALL-E to generate realistic images based on a handful of words, and ChatGPT to create astonishingly human-like conversational text in response to prompts or queries. 

We formed our partnership with OpenAI around a shared ambition to responsibly advance cutting-edge AI research and democratize AI as a new technology platform, Satya Nadella, chairman and chief executive officer of Microsoft, said in a statement, which detailed the investment but didnt disclose the amount. A person familiar with the discussions, who asked not to be identified because the information isnt public, said it totals $10 billion over multiple years.

Shares were up 0.5% at $241.52 at 9:56 a.m. in New York.

ChatGPT has captured the imagination of a broad swath of users for its ability to imitate the way real people talk and write. Its uncanny realness has sparked concern about its potential to supplant professional writers and do students homework for them. The tool has also been called a potential threat to Googles core search business.

OpenAI noted on Monday that it uses Microsofts cloud-based service Azure to train all of its models and that Microsofts investment will allow it to accelerate its independent research. Azure will remain the exclusive cloud provider for OpenAI, the company said. 

As with Microsofts previous investment in OpenAI, much of the value of the deal will take the form of Microsoft giving OpenAI the Azure cloud-computing horsepower needed to run its AI systems, said two people familiar with the deal. 

The deal has a complicated structure because investors in OpenAI are limited in the return on their investment since it is a capped-for profit company. Microsoft will get nearly half of OpenAIs financial returns until its investment is repaid up to a predetermined cap, one of the people said. All profits beyond what is owed to investors and employees are returned to OpenAI, which is governed by the OpenAI non-profit organization.

Microsoft earlier this month said it planned to add ChatGPT to Azure and announced the broad availability of its Azure OpenAI Service, which has been an option to a limited set of customers since it was unveiled in 2021. The service gives Microsofts cloud customers access to various OpenAI tools like the GPT-3.5 language system that ChatGPT is based on, as well as the Dall-E model for generating images from text prompts. That enables Azure customers to use the OpenAI products in their own applications running in the cloud. 

Microsoft itself is currently using the developers language AI to add automation to its Copilot programming tool, and wants to add such technology to its Bing search engine, Office productivity applications, Teams chat program and security software. The Redmond, Washington-based company is putting DALL-E into design software and offering it to Azure cloud customers.  

Nadella is deepening Microsofts ties with OpenAI as Google, which has long been essentially untouchable in search, suddenly appears vulnerable. The Alphabet units prevailing model of keyword queries uses search engines to comb the web for specific terms, and then lets users make their own decisions as to what information is useful. 

By contrast, ChatGPT responds to questions about topics such as political science and computer programming with detailed explanations, and its question-and-answer format means users can drill down until they fully understand. The bot is capable of responding to queries in a natural and human-like manner, carrying on a conversation and answering follow-up questions, unlike the basic list of blue links that a Google search provides.

News of the investment comes less than a week after Microsoft said its laying off 10,000 workers as a weakening economy crimps software demand. Microsoft noted in that announcement that it will still invest and hire in key priority areas. The software maker reports fiscal second-quarter earnings on Tuesday. 

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Ignatova is on the bureaus Ten Most Wanted Fugitives list for alleged leadership of a massive fraud scheme that affected millions of investors worldwide. A co-founder of Bulgarian-based cryptocurrency company OneCoin Ltd, she is said to have defrauded investors out of more than $4 billion.

It comes after her co-founder, Karl Sebastian Greenwood, plead guilty to wire fraud and money laundering charges in Manhattan federal court last month.

As well as Greenwood, Ignatova brought in her younger brother Konstantin Ignatov to help lead the international pyramid scheme that involved the marketing of a fraudulent cryptocurrency.

The net began closing in when Konstantin was arrested at Los Angeles International Airport following an investigation by the Manhattan U.S. Attorney in 2019.

Konstantin plead guilty to a range of charges including money laundering and fraud in 2019, according to the BBC.

Cryptoqueen still on the run

However, his older sister is still at large, with a federal warrant for Ignatovas arrest issued on October 12, 2017. It was later superseded by a charge in February of 2018 with counts of conspiracy to commit wire fraud, wire fraud, conspiracy to commit money laundering, conspiracy to commit securities fraud and securities fraud.

Court and public documents allege that Ignatova and her sibling held various positions at the top of the company which was founded in 2014.

As of his arrest, Konstantin Ignatov was described as the top leader of the company, having taken over from his sister who had occupied the position until she disappeared in October 2017.

In the course of authorities investigations into OneCoin, records showed that between the fourth quarter of 2014 and the third quarter of 2016, OneCoin generated 3.353 billion in sales revenue and earned profits of 2.232 billion.

How did she do it?

A video shown on the FBIs website gives some insight into how Ignatova swindled investors into putting their hands in their pockets.

At a OneCoin event in London, speaking one and a half years after launching [their] cryptocurrency Ignatova said: I strongly believe [OneCoin] will be the number one cryptocurrency worldwide.

Accepting applause from the crowd, she continues: In the last two years Ive been called a lot of things. The best thing the press called me was: OneCoin, who is supposed to be the BitCoin killer. I must say I like it. You all know since we mined our first coin our growth exploded. She then claims her company had two million active users which no other cryptocurrency has.

Speaking after Konstantin Ignatovs arrest, the FBIs assistant director-in-charge at the time, William Sweeney Jr., said:  As we allege, OneCoin was a cryptocurrency existing only in the minds of its creators and their co-conspirators.  Unlike authentic cryptocurrencies, which maintain records of their investors transaction history, OneCoin had no real value.

It offered investors no method of tracing their money, and it could not be used to purchase anything.  In fact, the only ones who stood to benefit from its existence were its founders and co-conspirators.  Whether youre dealing with virtual currency or cold, hard cash, we urge the public to exercise due diligence with any investment.

According to a release from the Office of the United States Attorneys, Ignatova had listed an exit strategy out of OneCoin as take the money and run and blame someone else for this.

In emails also sent in 2014, Greenwood apparently refers to OneCoin investors as idiots with Ignatov replying: As you told me, the network would not work with intelligent people.

Where is she now?

And so began an international game of cat and mouse with IRS special agent in charge, John R. Tafur, pledging to bring cryptocurrency crooks to justice.

The FBI is offering $100,000 for information leading to the arrest of the fugitive.

Her profile on the FBI website adds that she is believed to travel with armed guards and/or associates and may have had plastic surgery to alter her appearance.

Able to speak German, English and Bulgarian, it is believed Ignatova may have used a German passport to fly to the United Arab Emirates, Bulgaria, Germany, Russia, Greece and/or Eastern Europe.

When approached by CNN, the bureau declined to provide additional details beyond court documents from the U.S. Department of Justice.

The FBI poster adds that Ignatova has various aliases, including Dr. Ruja Ignatova, Ruja Plamenova Ignatova, Ruja P. Ignatova and CryptoQueen.

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Some fed-up consumers are posting rants on social media complaining about tip requests at drive-thrus, while others say theyre tired of being asked to leave a gratuity for a muffin or a simple cup of coffee at their neighborhood bakery. Whats next, they wonder are we going to be tipping our mail carriers and dentists, too?

As more businesses adopt digital payment methods, customers are automatically being prompted to leave a gratuity many times as high as 30% at places they normally wouldnt. And some say it has become more frustrating as the price of items has skyrocketed due to inflation, which eased to 6.5% in December but still remains painfully high.

Suddenly, these screens are at every establishment we encounter. Theyre popping up online as well for online orders. And I fear that there is no end, said etiquette expert Thomas Farley, who considers the whole thing somewhat of an invasion.

Unlike tip jars that shoppers can easily ignore if they dont have spare change, experts say the digital requests can produce social pressure and are more difficult to bypass. And your generosity, or lack thereof, can be laid bare for anyone close enough to glance at the screen including the workers themselves.

Dylan Schenker is one of them. The 38-year-old earns about $400 a month in tips, which provides a helpful supplement to his $15 hourly wage as a barista at Philadelphia café located inside a restaurant. Most of those tips come from consumers who order coffee drinks or interact with the café for other things, such as carryout orders. The gratuity helps cover his monthly rent and eases some of his burdens while he attends graduate school and juggles his job.

Schenker says its hard to sympathize with consumers who are able to afford pricey coffee drinks but complain about tipping. And he often feels demoralized when people dont leave behind anything extra especially if theyre regulars.

Tipping is about making sure the people who are performing that service for you are getting paid what theyre owed, said Schenker, whos been working in the service industry for roughly 18 years.

Traditionally, consumers have taken pride in being good tippers at places like restaurants, which typically pay their workers lower than the minimum wage in expectation theyll make up the difference in tips. But academics who study the topic say many consumers are now feeling irritated by automatic tip requests at coffee shops and other counter service eateries where tipping has not typically been expected, workers make at least the minimum wage and service is usually limited.

People do not like unsolicited advice, said Ismail Karabas, a marketing professor at Murray State University who studies tipping. They dont like to be asked for things, especially at the wrong time.

Some of the requests can also come from odd places. Clarissa Moore, a 35-year-old who works as a supervisor at a utility company in Pennsylvania, said even her mortgage company has been asking for tips lately. Typically, shes happy to leave a gratuity at restaurants, and sometimes at coffee shops and other fast-food places when the service is good. But, Moore said she believes consumers shouldnt be asked to tip nearly everywhere they go and it shouldnt be something thats expected of them.

It makes you feel bad. You feel like you have to do it because theyre asking you to do it, she said. But then you have to think about the position that puts people in. Theyre paying for something that they really dont want to pay for, or theyre tipping when they really dont want to tip or cant afford to tip because they dont want to feel bad.

Digital payment methods have been around for a number of years, though experts say the pandemic has accelerated the trend towards more tipping. Michael Lynn, a consumer behavior professor at Cornell University, said consumers were more generous with tips during the early days of the pandemic in an effort to show support for restaurants and other businesses that were hard hit by COVID-19. Many people genuinely wanted to help out and felt sympathetic to workers who held jobs that put them more at risk of catching the virus, Lynn said.

Tips at full-service restaurants grew by 25.3% in the third quarter of 2022, while gratuities at quick or counter service restaurants went up 16.7% compared to the same time in 2021, according to Square, one of the biggest companies operating digital payment methods. Data provided by the company shows continuous growth for the same period since 2019.

As tip requests have become more common, some businesses are advertising it in their job postings to lure in more workers even though the extra money isnt always guaranteed.

In December, Starbucks rolled out a new tipping option on credit and debit card transactions at its stores, something a group organizing the companys hourly workers had called for. Since then, a Starbucks spokesperson said nearly half of credit and debit card transactions have included a gratuity, which along with tips received through cash and the Starbucks app are distributed based on the number of hours a barista worked on the days the tips were received.

Karabas, the Murray State professor, says some customers, like those whove worked in the service industry in the past, want to tip workers at quick service businesses and wouldnt be irritated by the automatic requests. But for others, research shows they might be less likely to come back to a particular business if they are feeling irritated by the requests, he said.

The final tab might also impact how customers react. Karabas said in the research he did with other academics, they manipulated the payment amounts and found that when the check was high, consumers no longer felt as irritated by the tip requests. That suggests the best time for a coffee shop to ask for that 20% tip, for example, might be on four or five orders of coffee, not a small cup that costs $4.

Some consumers might continue to shrug off the tip requests regardless of the amount.

If you work for a company, its that companys job to pay you for doing work for them, said Mike Janavey, a footwear and clothing designer who lives in New York City. Theyre not supposed to be juicing consumers that are already spending money there to pay their employees.

Schenker, the Philadelphia barista, agrees to a certain extent.

The onus should absolutely be on the owners, but that doesnt change overnight, he said. And this is the best thing we have right now.

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