Better.com Ousts Vishal Garg

Vishal Garg, the Better.com founder who drew global criticism for firing about 900 employees during a brief Zoom call in 2021, has now been removed as CEO of Better Home & Finance. The board appointed Daniel Lewis as interim chief executive in early August 2026, while Garg remains a director.

Garg is seeking reinstatement and claims he has support from majority shareholders. The board, however, unanimously rejected his return, pointing to the company's financial performance, including more than $1.5 billion in GAAP net losses since 2022 and a share price that has fallen more than 90% since its 2023 Nasdaq debut.

Garg became one of corporate America's most controversial executives in December 2021 when he dismissed hundreds of employees simultaneously over Zoom. The episode triggered widespread criticism over leadership and workplace empathy and was followed by several senior communications and marketing executives leaving the company.

Better subsequently implemented further layoffs while aggressively using technology to reduce operating costs. AI and automation reportedly helped lower the cost of originating a loan from around $12,000 to below $3,000, demonstrating that operational efficiency alone cannot guarantee profitability.

The latest boardroom battle also involves corporate-governance concerns. The board has accused Garg of refusing to sign representation letters required for the company's regulatory filing while attempting to secure concessions. Garg has responded by proposing to work for $1 annually until profitability, invest $5 million personally and support a $30 million share buyback.

Lesson To Learn:

The Bigger story extends beyond the irony of a CEO famous for mass layoffs losing his own executive position. Technology can dramatically reduce costs, but sustainable businesses still require financial discipline, strong governance and responsible leadership. In the AI-driven enterprise, automation may transform operations, but trust and accountability remain fundamentally human responsibilities.