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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

#131

Post by wpietri »

capableweb wrote: post #47
boeingUH60 wrote: post #14

Earlier quoted context omitted.

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.

> “As our product leaders have taken on more responsibility, I've been able to consider taking a much-needed personal break to spend more time with my family. It has been a tough year for me personally — my father was diagnosed with Alzheimer's disease, and my mother passed away unexpectedly. If I'm honest with myself, I don't think I've allowed myself time to grieve either yet,” he wrote in a recent LinkedIn post. h…

I wouldn't be surprised. "spend more time with family" is a classic lie when fired.

E.g., this article from 2013: https://patch.com/virginia/oakton/what-resigning-to-spend-mo...

Or this, from 2006: https://www.nytimes.com/2006/12/23/business/23family.html

Re: Coinbase’s chief product officer will leave with a $105M payday

#132

Post by davidw »

phillipcarter wrote: post #10

All 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 have to say... there's something kind of demoralizing about this and some of the other shenanigans happening right now.

I'm part of a local YIMBY group advocating for more housing and you see some really rough stories about people who are employed, work hard, and still can't put a roof over their heads. And then you see stuff like this.

/rant

Re: Coinbase’s chief product officer will leave with a $105M payday

#133

Post by dahdum »

jxramos wrote: post #17
phillipcarter wrote: post #10

All 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?

> What makes you say the value of their contribution is minor?

Excluding the stock performance entirely, they've released no particularly successful or even interesting products under his tenure.

He comes from Google where he worked on ads and shopping, so honestly that tracks pretty well. Google (not Alphabet) hasn't done anything interesting or innovative in a long time now either.

Re: Coinbase’s chief product officer will leave with a $105M payday

#134

Post by htrp »

arcturus17 wrote: post #105
phillipcarter wrote: post #10

All 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.

He's walking with around a sixth of all money raised by the company [1] Might as well treat the execs and all VCs involved to a luxurious "fuck you" dinner! [1] https://www.crunchbase.com/organization/coinbase/company_fin...

all stock sales though.... so techncially your money (if you hold coinbase stock retail)

Re: Coinbase’s chief product officer will leave with a $105M payday

#135

Post by TomSwirly »

phillipcarter wrote: post #10

All 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.

Absolutely not. That's morally awful.

A society that rewards its very worst people with money and power is a society on the way down.

Re: Coinbase’s chief product officer will leave with a $105M payday

#138

Post by apples_oranges »

phillipcarter wrote: post #10

All 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.

Investors buying into crypto... "aaaaand it's gone." .. into the pockets of guys like him

Re: Coinbase’s chief product officer will leave with a $105M payday

#139

Post by samstave »

zitterbewegung wrote: post #43
phillipcarter wrote: post #10

All 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.

These comments don’t really address opportunity costs. It’s the same concept where why are we paying non profit CEOs so much but when you think about it those CEOs could have just worked for a much higher salary anywhere else . The cheap money era is gone now though.

>>why are we paying non profit CEOs

And anyone with a "foundation" (recall sarah palin's daughter getting paid some ridiculous amount for her :foundation" to fight teen-pregnancy after been a pregnant teen??

Re: Coinbase’s chief product officer will leave with a $105M payday

#140

Post by munk-a »

phillipcarter wrote: post #10

All 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.

This philosophy of praising exploitation is actually one of the things I liked least about America and one of the things I found most refreshing when I emigrated. It's pervasive through American society that pulling the wool over the eyes of shadowy entities (large corporations, the government etc...) is a virtue but every time it's done it pulls a lot of money out of the hands of people that could use it more and further concentrates wealth. It's also part of the virtue package that allowed a recent presidential candidate to proudly proclaim that they'd not share their tax returns while talking about how much money they'd fleeced the government for and they were openly praised for these actions while running for the highest office.

Yes coinbase is a pretty shifty entity and probably didn't deserve so much funding in the first place but this individual managing to walk away with such an insane amount of money while making no contribution even approaching this level of value doesn't deserve praise - they're a prime example of the rot that is deeply set in America and causing wealth inequality to spiral out of control.

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