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

Post by NotYourLawyer » Wed, Jan 25, 2023, 7:19 PM UTC

lordfrito wrote: post #334

NotYourLawyer wrote: post #321

Earlier quoted context omitted.

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 influ…

Post by RestlessMind » Wed, Jan 25, 2023, 7:29 PM UTC

Cerium wrote: post #295

Quarrelsome wrote: post #229

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…

Post by jahewson » Wed, Jan 25, 2023, 7:37 PM UTC

Cerium wrote: post #295

Quarrelsome wrote: post #229

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…

Post by jahewson » Wed, Jan 25, 2023, 7:39 PM UTC

capableweb wrote: post #29

karaterobot wrote: post #2

Yes, because he got stock as part of his compensation package. Last year it was worth more, but it's still worth a lot. If the product hadn't been successful, it would have been worth nothing. It's not a mystery at all.

> 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.

Post by mrguyorama » Wed, Jan 25, 2023, 7:43 PM UTC

craig_s_bell wrote: post #252

rcme wrote: post #181

Earlier quoted context omitted.

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.