Coinbase’s chief product officer will leave with a $105M payday • Hacker News Board

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

#251

Post by wasjosh » Wed, Jan 25, 2023, 5:55 PM UTC

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…

It’s not pervasive. Pound yourself in the face with sand everyday and you’ll think there’s sand everywhere.

There are 100s of millions of people in the US.

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

#252

Post by craig_s_bell » Wed, Jan 25, 2023, 5:55 PM UTC

rcme wrote: post #181

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…

I agree. And often, people don't draw the line at corporations. So many people in America are willing to screw over others if it means another dollar in their pocket.

The base elements of human nature do not care about national borders. I think you'll find such people, in similar proportion, in most places around the world.

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

#253

Post by jatins » Wed, Jan 25, 2023, 5:55 PM UTC

alphabetting wrote: post #203

TrackerFF wrote: post #179

I checked the list they refered to: https://www.equilar.com/reports/95-table-equilar-new-york-ti... And damn, top guy got paid almost a billion. Also, the top two guys are Brigham Young alumni.

All the FAANG CEOs are represented besides Sundar Pichai. I looked it up and his compensation was $2M ($6M with stock). Wild that the Amazon CEO got paid over $200M more than him.

$6M seems rather small for Google's CEO compensation. Did Sundar take a huge paycut?

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

#254

Post by jrochkind1 » Wed, Jan 25, 2023, 5:56 PM UTC

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…

I agree with you. I thought GP was sarcasm... but these days who can even tell. Including the people writing/saying... I don't know if this is a USA thing or a more global thing, but I think a lot of people literally don't know if they are being sarcastic or not, sarcasm is so pervasive.

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

#255

Post by jjtheblunt » Wed, Jan 25, 2023, 5:56 PM UTC

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…

i'm pretty sure the comment, to which you responded, is a joke. i mean, the second sentence is overtly sarcastic.

if not intended as sarcastic, it works as sarcasm quite well!

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

#256

Post by asdff » Wed, Jan 25, 2023, 5:57 PM UTC

nlitened wrote: post #145

mathverse wrote: post #81

Full time employment is rigged. For everyone. Tech workers are just now waking up to the reality that they are the same disposable peasants like all the rest. Seeing this kind of compensation and thinking .. oh well that guy must have done hell of a job must be some kind of delusion.

Everybody is free to start their own businesses or to get hired as a CPO at a booming startup. I see a lot of people complaining, but not that many actually using those very simple rigged opportunities to make 100M fast.

Why don't you have 100m? Or do you already have 100m?

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

#257

Post by dmoy » Wed, Jan 25, 2023, 5:57 PM UTC

munk-a wrote: post #144

defen wrote: post #93

Earlier quoted context omitted.

At the same time, if you're the leader of a product that's going to succeed no matter what, maybe you shouldn't get paid $105 million.

Maybe, and this might be a controversial take, nobody should be paid $105 million - because maybe nobody is actually generating that much value on their own.

Or if they are paid, $105 million, it should be taxed at like a 90%+ rate and have that go towards the 30 million+ hungry people in the US.

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

#258

Post by burnished » Wed, Jan 25, 2023, 5:57 PM UTC

logicallee wrote: post #184

anamexis wrote: post #153

Earlier quoted context omitted.

For what it's worth, I think GP was being sarcastic.

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

No, I think its a genuine case of two people with different values.

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

#259

Post by jedberg » Wed, Jan 25, 2023, 5:57 PM UTC

aqme28 wrote: post #18

bhahn wrote: post #3

The 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.

He got a pretty typical comp package but he happened to get in right before COIN stock took off, which made it astronomical.

It's like the folks who joined Amazon a few years ago as Staff engineers. Their original comp packages were valued at $200k-$300k per year, but then the stock took off, and they ended up with $1M+ per year. They started with a typical package that was stock heavy and got lucky.

Interestingly the people getting in now are getting screwed for the same reason -- with the stock dropping, their comp package is getting cut in half.

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

#260

Post by jpadkins » Wed, Jan 25, 2023, 5:58 PM UTC

matthewaveryusa wrote: post #159

I'm always intrigued at people's carriers and where exactly the inflection point was. Looking at Surojit's career, it went something like this: BS in CS at Kharagput, something like a US T2 university MS in CS at Buffalo, something like a T2 univeristy, Spend some years at IBM and Oracle as a developer/senior developer 200k/year ? MIT Sloan MBA T1 world class PM/Senior PM at Symantec for a year 200-300k/year? Head of…

He was sr director when he left google first time, so more like 800k+ He was probably making > 1.5M in his second stint at google.

His big break was heading up mobile search ad revenue task force at the time mobile traffic was growing like crazy. Big oppty and he was up to the task. It's hard to say he really succeeded at flipkart, google shopping, and coinbase. Each of those were 2 year or less stints.