311–320 of 391 posts
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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?
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…
Since when IIT Kharagpur is Tier 2?
For a sense of scale; a somewhat representative figure for a lifetime median income of a worker in the US is ~2.5m [1][2] this guy is earning ~50 times that in a couple of years. To give these figures a bit of shape. This is like getting a smarties cake[3] and giving Surojit Chatterjee pretty much the entire cake for just a couple years work. Whereas the median worker gets, for working a lifetime of effort (~45 years…
We need maximum wage laws. Such a law might look like this: The maximum total compensation (Salary + estimated stock grant value) must be less than some multiple of the lowest prorated total compensation of any regularly scheduled employee or contractor operating within nominal geographic limits. Goal: Stop overpaying top staff or increase the pay of your lowest workers, including commonly outsourced positions such a…
To fix it you'd have to do something like break it up into component parts:
1) Voting rights
2) Capital ownership (liquidation rights)
3) Dividend rights (aka profit sharing, pensions plans, and the like)
As well as expand the use of bonds for fundraising (including at the startup funding steps).
It will never happen due to entrenched interests (one of which is very importantly the right of legislators to own shares in companies).
I don't know. It could happen in privately owned corporations, employee owned corporations, or if shareholders of a particular company get mad about the huge payouts to fly-by-night executives. But it's unlikely.
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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?
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> So he did a poor job Or (at least partially) the surrounding market conditions have changed into unfavorable conditions for a company like Coinbase Should a product officer be judged on whether the economy/financial markets change their mind on the value of risky things like crypto? Plus the FTX thing most likely isn't a product officer's fault
Ok, bypassing anything regarding the macro-economic situation, how has the Coinbase product (successfully) changed since he was introduced in the company? As far as I know, the only change visible to users is the NFT thing, and we all know how that went.
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've worked with Surojit; he was an absolute superstar. He rose through the ranks on the basis of mountains of backbreaking and incredibly impactful work.
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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…
It's more about having the "fuck you" money. Once you reach this level, you typically have about $3-5M in various assets, so you don't have to work in order to keep paying your bills. You may want to work to buy that next supercar or yacht, but you don't have to. So, if you are out of luck, you postpone that $5M waterfront summer home purchase, go sit on some board for symbolic money, sniff around, and eventually joi…
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…
Since when IIT Kharagpur is Tier 2?
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> 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.
> So he did a poor job Or (at least partially) the surrounding market conditions have changed into unfavorable conditions for a company like Coinbase Should a product officer be judged on whether the economy/financial markets change their mind on the value of risky things like crypto? Plus the FTX thing most likely isn't a product officer's fault
Yes, you can see Coinbase price appears to be highly correlated with Bitcoin price.
However it is clear that Coinbase has still done very poorly: BTC is down 63% and COIN is down 84% since the IPO.
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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…
In the 90s, my relatives first came to the US. In those days, there were newspaper dispensing machines on the sidewalk, which worked like this: 1. It was a box on the sidewalk with a locked swing-out door facing forward. 2. You put coins into the machine and the door unlocks. 3. Inside are all the newspapers. You put your hand in and take only one. 4. You close the door and it locks. The first thing my relatives aske…
