As someone who has lost his mother unexpectedly last year, and my father suffered from a brain hemorrhage leading to dementia ... and I can very much empathize with the instinct to stop working and take a long break.
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
#22Article says "...Ford's revenues are five times the size of Coinbase's...". Isn't it more like 69x (Q3: Ford $39.4B and Coinbase: $576M).
Re: Coinbase’s chief product officer will leave with a $105M payday
#23All 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.
I can't tell if you're serious or not (the aspire towards part).
Re: Coinbase’s chief product officer will leave with a $105M payday
#24All 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?
Umm have your seen what their financial performance? At least somewhat fair that you know Coinbase's product has some impact on stock price!
Re: Coinbase’s chief product officer will leave with a $105M payday
#25All 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?
Coinbase is down 88% from all time highs, and slightly less from its IPO. Coinbase has an $11.6b market cap which means he extracted a little under 1% of the entire company’s value in two years.
Re: Coinbase’s chief product officer will leave with a $105M payday
#26The 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.
On the bright side, Coinbase launched a lot of high-value new products during the last two years that will help the company thrive and grow in the coming years.
Re: Coinbase’s chief product officer will leave with a $105M payday
#27All 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.
I can't tell if you're serious or not (the aspire towards part).
100% serious.
If capital is planning on being this dumb, as labor I have no problem whatsoever relieving them of their monetary burdens.
Re: Coinbase’s chief product officer will leave with a $105M payday
#28I bet the 950 people let go a few weeks ago and the 1,100 let go back in June must love hearing this news.
Re: Coinbase’s chief product officer will leave with a $105M payday
#29Yes, because he got stock as part of his compensation package. Last year it was worth more, but it's still worth a lot. If the product hadn't been successful, it would have been worth nothing. It's not a mystery at all.
> If the product hadn't been successful, it would have been worth nothing. It's not a mystery at all.
The stock is down -84.99% from IPO, seems like so far (accordingly shareholders and the financial market), the product is indeed not very successful because if it was, the price would go up, not down.
So he did a poor job, and now when sold his part of it, he got $105M.
Re: Coinbase’s chief product officer will leave with a $105M payday
#30As someone who has lost his mother unexpectedly last year, and my father suffered from a brain hemorrhage leading to dementia ... and I can very much empathize with the instinct to stop working and take a long break.
I hope you don’t believe him. He’s leaving because he has $105m and his options are underwater. See ya, suckers!