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

#331

Post by eddsh1994 » Wed, Jan 25, 2023, 7:02 PM UTC

jahewson wrote: post #322

matrix_overload wrote: post #310

Earlier quoted context omitted.

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…

For context if you live in Palo Alto it just buys you a house.

I saw an acre plot on the market recently for $5.2 in Atherton - no house.

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

#332

Post by mayormcmatt » Wed, Jan 25, 2023, 7:03 PM UTC

JackFr wrote: post #173

wpietri wrote: post #79

Earlier quoted context omitted.

Fair point. I am generally opposed to crime, legal and otherwise. But stealing from the grifters not only has a certain moral justice to it, it might even be a net social positive.

He's like Omar.

Farmer and the Dell intensifies

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

#333

Post by wpietri » Wed, Jan 25, 2023, 7:04 PM UTC

capableweb wrote: post #324

wpietri wrote: post #131

Earlier quoted context omitted.

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

If he just said "spend more time with family", then I agree, it sounds like a cop-out. But specifically referring to actual life events? Less likely to be cop-out, at least that's the feeling I get.

Yeah, hard to say. Spending more time with family is a also thing people legitimately do. But especially the bit about "If I'm honest with myself, I don't think I've allowed myself time to grieve either yet," puts it back in the "glib excuse-making" category for me, in that the diagnosis happened sometime in the last year, and he's made his dad's illness about his grieving, not caring for his dad.

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

#334

Post by lordfrito » Wed, Jan 25, 2023, 7:04 PM UTC

NotYourLawyer wrote: post #321

lordfrito wrote: post #297

Earlier quoted context omitted.

> the problem is that shareholders are often too distributed and don't have enough control to do anything about it Any examples to cite? Because I can't think of an example of a single company where this is true. Usually it's a small group of shareholders that hold more than 50% of the company, making it essentially theirs as they hold a winning number of votes. They run it in a way that benefits them, placing their…

Mostly agree, but this part isn't really true: >But as the majority shareholder it's effectively their company, and they can do what they want with what they own (basic freedoms I think we all agree on?). For example, Elon, as majority shareholder, could simply liquidate Tesla and pocket his share of the sale. It's his company. Minority shareholder oppression is a thing.

> Minority shareholder oppression is a thing.

Yeah, but minority investors know that going in. If I buy 10 shares of Google, it's unrealistic for me to think that I hold any power as a shareholder. I'm simply along for the ride.

A large investor buying say, a 25% stake in a company, while being aware of an existing 51% voting block, knows that their 25% position is a minority and does not come with significant influence.

Any investor who buys a large minority stake and later complains about not having control didn't do their homework ahead of time.

If a minority shareholder doesn't like the way the company is run they have three choices: - sell their shares and buy-in to a more attractive company - buy up a controlling interest and get their voice heard - shut their mouth and deal with it

Why should the minority opinion be allowed to overrule the majority? The majority has more skin in the game, they have more money at stake in the company.

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

#335

Post by eddsh1994 » Wed, Jan 25, 2023, 7:08 PM UTC

snapcaster wrote: post #124

ctvo wrote: post #62

Earlier quoted context omitted.

Examples please.

Jesus people on HN must all the be on the spectrum. Everyone's joke detectors are broken

Is that a joke?

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

#336

Post by rco8786 » Wed, Jan 25, 2023, 7:13 PM UTC

swyx wrote: post #293

rank0 wrote: post #89

Earlier quoted context omitted.

YTD is like 25 days… what’s the TTM?

parent comment said "not good at the moment" so just responding to "at the moment" its actually not as bad as the haters would imagine (e.g. its well above the 2020-era ceiling of $16k despite much tighter monetary policy and crypto institutions failing all over the place)

I meant like crypto as a whole. The 2020 shininess has worn off. NFTs are all dead. Web3 is being forgotten. The main news stories are about fraud and hacks.

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

#337

Post by rco8786 » Wed, Jan 25, 2023, 7:14 PM UTC

carrja99 wrote: post #116

rco8786 wrote: post #51

Earlier quoted context omitted.

Collapsing is a strong word, but their very tightly tied to whatever the crypto market is doing..which is not good at the moment.

Are they? They’re tied to people putting money in and out of their platform, not to how much Bitcoin is worth.

Yes, trading volume has fallen off a cliff in the last couple quarters.

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

#338

Post by rco8786 » Wed, Jan 25, 2023, 7:15 PM UTC

swyx wrote: post #58

rco8786 wrote: post #51

Earlier quoted context omitted.

Collapsing is a strong word, but their very tightly tied to whatever the crypto market is doing..which is not good at the moment.

eh. BTC is up 40% year to date. FTX may have been the bottom of this cycle.

the price of BTC != the crypto market

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

#339

Post by ninala » Wed, Jan 25, 2023, 7:16 PM UTC

1024core wrote: post #330

ninala wrote: post #302

Earlier quoted context omitted.

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.

He also had a terrible reputation of being an arrogant prick. People hated working for him (or so I've been told). I've heard he made grown people cry.

None of that is true, so far as I know. I remember him as kind and considerate. That doesn't mean he wasn't demanding, but he was quite fair, and sensitive to the impact of his words and actions.

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

#340

Post by mrguyorama » Wed, Jan 25, 2023, 7:18 PM UTC

snapcaster wrote: post #124

ctvo wrote: post #62

Earlier quoted context omitted.

Examples please.

Jesus people on HN must all the be on the spectrum. Everyone's joke detectors are broken

HN is full of genuinely delusional people who genuinely say these things. It's part of the reason jokes go so poorly here is that some sane people who read them have read identical statements from serious people so it's never clear when something is a joke.