So, the ship is sinking?
Probably the other way round. They’re getting rid of a product officer who has no faith in his product.
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Coinbase’s chief product officer will leave with a $105M payday
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Re: Coinbase’s chief product officer will leave with a $105M payday
#12What exactly is this site solving? I'm asking because I don't know
Re: Coinbase’s chief product officer will leave with a $105M payday
#13What exactly is this site solving? I'm asking because I don't know
Another site that makes millions from shitcoin bullshit as I understand it
Re: Coinbase’s chief product officer will leave with a $105M payday
#14One of the biggest compensation packages I've ever heard of (600M+ in 5 years) and he walked away a year in. Wow.
I doubt he voluntarily walked away…the only product he launched, the Coinbase NFT marketplace, flopped and the general crypto slump has also affected the company.
Re: Coinbase’s chief product officer will leave with a $105M payday
#15Apropos of nothing I am reminded of one of Woody Allens earlier, funnier movies. It was called Take the Money and Run.
Re: Coinbase’s chief product officer will leave with a $105M payday
#16This is surreal to read. Can anyone please explain how is it possible for the board to value so much someone? I don't see what can possibly justify this kind of compensation...
His equity was presumably worth much less when it was given to him.
He joined around a year ago, it is now worth 72% less than when he joined.
Possibly part of the reason to depart? A $70M comp cut and little hope of it recovering seems a good reason
Re: Coinbase’s chief product officer will leave with a $105M payday
#17All I can say is, damn, props to him. Tricking the coinbase execs into giving him one of the highest paying packages for any product exec in history and delivering so little value in return is the kind of heist we should all aspire towards.
What makes you say the value of their contribution is minor? Is there some public basis for that sort of claim to be found elsewhere?
Re: Coinbase’s chief product officer will leave with a $105M payday
#18The title of the article is a bit misleading. It implies that he's leaving with a severance package -- that he was let go by the company -- but the $105M is from selling stock from his original employment package and it seems like he's leaving on his own volition.
It's not that misleading. This isn't an early employee who held onto his shares. He joined less than two years ago. He got an insanely high compensation package.
Re: Coinbase’s chief product officer will leave with a $105M payday
#19I wish I could attach a graph of the COIN stock price starting from the IPO. It's a nice and steady downward trend all the way to -85%.
Re: Coinbase’s chief product officer will leave with a $105M payday
#20This seems like an awfully high compensation package for someone who only joined around the time of the IPO.
I can’t think of anything CB put out during his tenure that was interesting at all. IIRC, he was a driving the push for Coinbase NFT which flopped massively.