- SLC -> Single-Level Cell, i.e. 1 bit per cell
- MLC -> Multi-Level Cell, i.e. 2 bits per cell
- TLC -> Triple-Level Cell, i.e. 3 bits per cell
- QLC -> Quad-Level Cell, i.e. 4 bits per cell
The more bits per cell you store, the more dense and therefore cheaper your flash chips can be for a give capacity. The downside is that it is slower and less reliable since you have to be able to write and read exponentially more voltage states per cell, e.g. 2 states for SLC, 4 states for MLC, 8 states for TLC, etc.
Linus didn’t step down in response to this. I don’t remember the exact timelines, but he either stepped down before this, or was in already in the process of transitioning to the new CEO when this happened.