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

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

#351

Post by jahewson »

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.

From a VC’s point of view startup VPs are disposable peasants too. And to a pension fund, VCs are disposable peasants. As someone choosing which pension fund to invest in, I’m going to chase the best return, so they’re disposable peasants to me and we’ve gone full circle. Of course there’s a name for this: a market. When the pie is growing, it’s not so bad :)

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

#352

Post by ignoramous »

wpietri wrote: post #142
leesec wrote: post #98

Earlier quoted context omitted.

Not sure why the outburst man. His mom died, it's a valid reason to not want to work for a bit, and why would you if you had 105 million

It is a valid reason, and I took a leave after my mom died. But I'd rather take a beating than use it as part of a glib, self-serving announcement like this.

It is worth noting that people think differently. tbh, I see no need to assume that Surojit's using his parent's demise as some kind of a narcissistic indulgence to pocket Internet karma.

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

#353

Post by schemescape »

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.

Wow, someone at Qualtrics got paid half a billion to oversee a 50% drop in their stock price?

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

#354

Post by cactusplant7374 »

anonymouskimmer wrote: post #325
cactusplant7374 wrote: post #147

Earlier quoted context omitted.

The amount of money makes one wonder about corporate governance. How can shareholders be okay with it?

They're okay with it because: 1) Originally giving large amount of stock to the C-suite was seen as a way of locking in the motives of executives to enrich the corporation (or at least bump the share price), not just themselves. 2) They stayed okay with it, and even increased the options, because it was now standard practice. And if they didn't okay it they wouldn't get the 'best' executives. The problem with all of…

Berkshire companies don't have outrageous compensation plans. There are plenty of companies that will perform well without the hundred million dollar motivation.

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

#355

Post by jahewson »

gymbeaux wrote: post #128

Not too long ago I was playing the stock market with some spare cash and a trend I noticed was that these companies that lost more money than they were able to generate, all had well-paid executives. So you have a company that reports say a $100M loss one quarter, well it would turn out a sizable chunk of that was executive compensation. I’m not sure how I feel about execs making really any money before they’ve made…

As we’ve just seen the easiest way to achieve profitability is layoffs. Probably not what you had in mind.

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

#356

Post by loeg »

yamtaddle wrote: post #267
loeg wrote: post #217

Earlier quoted context omitted.

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.

I bet I see or hear "ripoff" and derivatives used to describe what turned out to be a shitty deal, about 100x more often than I see or hear it used to mean "stealing". [EDIT] But perhaps it connotes differently outside American English? That could be.

The metaphorical usage might be more common. But here's the definition: https://www.merriam-webster.com/dictionary/rip-off

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

#357

Post by nradov »

Quarrelsome wrote: post #346
Cerium wrote: post #295

Earlier quoted context omitted.

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…

perhaps make max executive pay+benefits proportional to the lowest full-time salary+benefits with a maximum ratio? The spirit of such legislation would be that executives should then seek to increase salaries of their workers in order to then increase their own.

Executives would just contract out low-value tasks instead of hiring low-wage employees to perform them.

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

#358

Post by asdff »

lost_tourist wrote: post #326
asdff wrote: post #261

Earlier quoted context omitted.

It's especially insulting not to spell it correctly. Bologna.

like it or not baloney is a word. Informal, but you'll still find it in dictionaries.

Sounds like a whole lot of bologna to me

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

#359

Post by WeylandYutani »

edgyquant wrote: post #101
itg wrote: post #28

I bet the 950 people let go a few weeks ago and the 1,100 let go back in June must love hearing this news.

A needed dip in the bubble and all of the sudden HN goes from market capitalist to left leaning. This person sold their stock, the time for employees to complain was when he was given this equity a couple of years ago.

1 I was always left

2 America is something to be avoided at all cost- even the right wing parties think it is a nightmare situation

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

#360

Post by Quarrelsome »

nradov wrote: post #357
Quarrelsome wrote: post #346

Earlier quoted context omitted.

perhaps make max executive pay+benefits proportional to the lowest full-time salary+benefits with a maximum ratio? The spirit of such legislation would be that executives should then seek to increase salaries of their workers in order to then increase their own.

Executives would just contract out low-value tasks instead of hiring low-wage employees to perform them.

Sure, but when you outsource, you lose efficiency to an extent. Corporations are large because of advantages they get from centralisation resulting in administrative efficiencies and this would be forcing them to undo some of those advantages.
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