Earlier quoted context omitted.
The fact that they have a the market position and capital to buy up human resources and waste them simply to keep competitors from being able to develop products goes to show that they are abusing their monopoly positions. Wouldn't it be better for the economy & society at large if these talented people were working hard at building new & better products?
Alas, the employee would have to act ultimately.
“Rest and vest”: engineers who get paid and barely work
61–70 of 335 posts
Re: “Rest and vest”: engineers who get paid and barely work
#62It's not just SV that has this phenomenon. I worked at the NASA Jet Propulsion Lab from 1988 to 2000. I had risen to the rank of Senior Member of the Technical Staff, the second-highest rung on the technical career ladder. Beyond that there is the rank of Principal, which is very hard to attain. It's essentially the equivalent of getting tenure. It requires peer review. Most engineers never attain it, and I was not o…
> The situation is particularly ironic because the argument that has been advanced for discarding Lisp in favor of C++ (and now for Java) is that JPL should use "industry best practice." The problem with this argument is twofold: first, we're confusing best practice with standard practice. The two are not the same. And second, we're assuming that best (or even standard) practice is an invariant with respect to the task, that the best way to write a word processor is also the best way to write a spacecacraft control system. It isn't.
Well said. I think I'm going to have to hold onto this argument for a rainy day.
Re: “Rest and vest”: engineers who get paid and barely work
#63> she had been killing herself to make it more successful and protect her people from losing their jobs over it. > As tired as she was, she couldn't just quit this job. She owed a big chunk of money in taxes thanks to that stock and needed her salary to pay those taxes. > after getting violently ill at the thought of going to work Burned out and trapped by debt. Not a great place to be even with the $1mm/year compens…
Not sure how "She owed a big chunk of money in taxes thanks to that stock". One has to do really risky/dumb things with stock options to get into that scenario
Re: “Rest and vest”: engineers who get paid and barely work
#64Yes, but the Wall Street CEO's are sooooo hard working. Give me a break. I once worked for a company whose CEO completely ran the thing into the ground and eventually got fired but got paid millions anyhow. I jokingly said I could have ruined the company for half what they paid that meathead. I think the real scandal is the ridiculous amounts of money CEO's get paid for doing nothing in a lot of cases. The money thes…
Re: “Rest and vest”: engineers who get paid and barely work
#65> she had been killing herself to make it more successful and protect her people from losing their jobs over it. > As tired as she was, she couldn't just quit this job. She owed a big chunk of money in taxes thanks to that stock and needed her salary to pay those taxes. > after getting violently ill at the thought of going to work Burned out and trapped by debt. Not a great place to be even with the $1mm/year compens…
Not sure how "She owed a big chunk of money in taxes thanks to that stock". One has to do really risky/dumb things with stock options to get into that scenario
Re: “Rest and vest”: engineers who get paid and barely work
#66Re: “Rest and vest”: engineers who get paid and barely work
#67It's not just SV that has this phenomenon. I worked at the NASA Jet Propulsion Lab from 1988 to 2000. I had risen to the rank of Senior Member of the Technical Staff, the second-highest rung on the technical career ladder. Beyond that there is the rank of Principal, which is very hard to attain. It's essentially the equivalent of getting tenure. It requires peer review. Most engineers never attain it, and I was not o…
From your linked blog post: > The situation is particularly ironic because the argument that has been advanced for discarding Lisp in favor of C++ (and now for Java) is that JPL should use "industry best practice." The problem with this argument is twofold: first, we're confusing best practice with standard practice. The two are not the same. And second, we're assuming that best (or even standard) practice is an inva…
Re: “Rest and vest”: engineers who get paid and barely work
#68There's also the old joke of the mechanic that comes to fix the machine by knowing where to tap with a hammer. So having people around who know where to tap is key. They are well worth what they are getting because sites like Google, Facebook, Amazon, etc... can't go down and if they do millions of dollars are burning for each minute those sites are down.
Re: “Rest and vest”: engineers who get paid and barely work
#69They have the rule that you either get better and a promotion or you will be fired.
So they only keep people that improve every year or they get new people.
Re: “Rest and vest”: engineers who get paid and barely work
#70All's good when the stock price is inflated. The reckoning (cost cutting) will come.