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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

#241

Post by jb1991 »

munk-a wrote: post #140
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 fu…

> This philosophy of praising exploitation

FWIW the parent you are replying to was clearly jesting with some sarcasm and not actually praising it in the way you seem to think.

EDIT: apparently not, according to the other replies by that parent. But looks like several of us read sarcasm into the comment.

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

#242

Post by freejazz »

edgyquant wrote: post #143
wpietri wrote: post #123

Earlier quoted context omitted.

Nope. They can also complain now. And forevermore if they want. None of us, you included, is obligated to protect grifters from the criticism of people who suffer while they walk away laughing.

They can complain now but it reeks of jealously instead of actual anger at the “grift.” When conditions were different nobody cares this dude got a ton of equity because they got equity as well.

As opposed to reeking of being an edgy contrarian?

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

#243

Post by NotYourLawyer »

globalreset wrote: post #169
NotYourLawyer wrote: post #75

Earlier quoted context omitted.

Yeah, I hate it when people exchange money for goods and services in a non-coercive, mutually agreed transaction. There oughta be a law!

These executive salaries ara usually shareholder's money (like the whole business), and the problem is that shareholders are often too distributed and don't have enough control to do anything about it.

Not these days. Blackrock et al. hold big enough stakes in the big companies that they'll be listened to if they complain.

Regardless though, why would the government be better at protecting shareholder interests than... the shareholders?

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

#244

Post by jacobsenscott »

leesec wrote: post #98
jacobsenscott wrote: post #82

Earlier quoted context omitted.

What a POS - we had to continue to work while caring for a family member with Alzheimer's, their death, and the death of another family member. I'm sure many of his reports had to continue to work though similar situations.

Not sure why the outburst man. His mom died, it's a valid reason to not want to work for a bit, and why would you if you had 105 million

This guy fails and gets 100+M dollars - never has to work another day in his life, and somehow after all that his break is "much needed"? Really? You need a break from making 1M per year for 3 years with a 100M kicker at the end? You know who needs a break - the 1000 people coinbase fired because Surojit Chatterjee and his C suite cronies wanted to bump their stock price.

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

#245

Post by morelisp »

jahsome wrote: post #207
logicallee wrote: post #184

Earlier quoted context omitted.

EDIT: apparently I was wrong and the poster was not sarcastic. (I thought it was Poe's law.)

They replied the statement was not sarcastic and doubled down.

Nobody would ever double-down on sarcasm.

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

#247

Post by jonathankoren »

jahsome wrote: post #207
logicallee wrote: post #184

Earlier quoted context omitted.

EDIT: apparently I was wrong and the poster was not sarcastic. (I thought it was Poe's law.)

They replied the statement was not sarcastic and doubled down.

Always double down.:)

Also, let’s be honest here. It’s stock valuation. That’s basically good vibes and rich VC money. It’s not like the money came from real people.

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

#248

Post by newswasboring »

samstave wrote: post #239
newswasboring wrote: post #209

Earlier quoted context omitted.

Fwiw I would trust a person who has gone through teen pregnancy to understand what kind problems it has. Just like people who didn't get to go to good schools establish scholarships. In isolation, those are the people who will understand the issue much more.

True, but her "foundation" was taking 'donations' and paying her ~$450,000 a year as ceo... And then evaporated I believe and dont think she had any impact on the problem.

Yeah. I didn't know that detailed, but I indeed suspected it. That's why I said "in isolation". These people will be scammers regardless of what they are doing. I was just being a bit pedantic because your wording suggested teen mom's should not run charities for teenage pregnancy related things.

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

#249

Post by spamizbad »

newswasboring wrote: post #218
spamizbad wrote: post #85

Earlier quoted context omitted.

You may not agree with it but you gotta respect the hustle.

Why? Why do you have to respect this hustle?

Crypto companies were starving for talent, eager to pull people in from the "Web 2.0" world with lavish salaries. He recognized their desperation and negotiated a gigantic executive comp package. Also accurately sized-up Brian Armstrong as a lightweight who will eagerly sign-on anyone who strokes his ego.

His major accomplishment was the Coinbase NFT marketplace and then checked out. He spent all of 2022 doing god-tier quiet-quitting.

He's not the only one whose done this: Balaji Srinivasan got hired on and did something similar with Coinbase's learning platform. Massive comp packages for executives doing C- work and still collecting atta-boys from the CEO. That guy used shareholder money to shitpost on twitter and build his personal brand.

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

#250

Post by nicoburns »

arcticbull wrote: post #174
munk-a wrote: post #140

Earlier quoted context omitted.

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 fu…

Generally I agree but this is crypto. Crypto is 100% zero-sum or negative-sum. The whole space is predicated on trying to take money from other participants rather than actually creating value. Creating at best the illusion of value is the goal. This guy nailed it. It's not like he took $100M from an orphanage or something.

This guy was a part of creating that negative sum game in the first place. He shouldn’t be celebrated.
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