261–270 of 391 posts
>Coinbase’s chief product officer will leave with a $105M payday in US dollars and not in crypto-baloney, let us add.
That's an insult to baloney - at least baloney has the intrinsic value wherein it can be metabolized into calories.
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He's like Omar.
That did cross my mind! But what makes Omar different is that he understood his place in the world and was honest about it. Both with himself and with the world: https://www.youtube.com/watch?v=P3i36ybA8Ms
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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.
Not quite orphanages, but it's definitely poor people: * Locked out of traditional financial industry, more people of color are turning to cryptocurrency [0] * Why the crypto crash hit black Americans hard [1] [0] https://archive.is/slVPj [1] https://archive.is/KhbuI
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 assumed the poster was being ironic.
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…
I'm pretty much convinced that the inflection point is "Director" at a FAANG or "VP" at a smaller company. Once you get to that point, it's pretty much impossible to fail downward. Worker bees rise up in level when they succeed (or the economy is good) and fall down in level when they fail (or the economy is bad). But, I've never heard of a Director or VP or anyone from the "executive class" getting a downgrade when…
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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…
Would say in all seriousness while nodding at your comment that America was founded on exploitation, not just of natives and Africans but of future waves of immigrants as well, etc, and of the idea of the supremacy of the owner class (within which there was some relative, legally enshrined equality). The history of America is literally one of enabling experimentation and innovation in exploitation, of the framing tha…
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Why does having a contract eliminate the possibility of getting ripped off? Tons of places commonly associated with ripping people off use contracts to do it. Car lots, telcos. Banks.
Ripping off, literally, is theft. In the legal contexts you're talking about, it's used as a hyperbolic metaphor . Those are distinct meanings. Arguing about it is pointless.
[EDIT] But perhaps it connotes differently outside American English? That could be.
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Always surprising to me how many peoples’ moral framework is essentially the Code of Hammurabi with a few layers of indirection.
Why does that surprise you? AFAICT, peoples' moral leanings seem pretty consistent over history. (I could be wrong; I'm haven't studied that much history.)
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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-ti…
Edit: Another thing, at least some of that shareholder money came from retail investors. Even if it's 1% it's still over a million dollars scammed from just the normal people.
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…
I'm pretty much convinced that the inflection point is "Director" at a FAANG or "VP" at a smaller company. Once you get to that point, it's pretty much impossible to fail downward. Worker bees rise up in level when they succeed (or the economy is good) and fall down in level when they fail (or the economy is bad). But, I've never heard of a Director or VP or anyone from the "executive class" getting a downgrade when…