Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

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

dlnews.com

Post reply on HN
Print view View original

371–380 of 391 posts

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

#371

Post by berniedurfee »

ninala wrote: post #302
matthewaveryusa wrote: post #159

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.

Apparently he did the equivalent work of 500 engineers. Impressive!

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

#372

Post by [deleted] »

anonymouskimmer wrote: post #313
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…

The big issue is stock. It's also one that would be really, really hard to fix because of entrenched interests and wish fulfillment. 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 fundi…

[deleted]

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

#373

Post by notyourwork »

RHSman2 wrote: post #284
notyourwork wrote: post #271

Earlier quoted context omitted.

The only people who should be upset are the those who provided the cash that is going into this person's pockets. Otherwise, I don't have a care in the world about this departure compensation. It impacts me in no way.

One is allowed to be upset. Woke

Woke? In what way?

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

#374

Post by gymbeaux »

jahewson wrote: post #355
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.

I propose instituting a 4-day workweek and cutting everyone’s pay by 10-20%. Some will no doubt resign (saving the company money), but the rest will instantly save the company 10-20% in labor costs. If all those studies out there are to be believed, productivity would remain the same or increase (although in those studies pay wasn’t cut along with hours, so… maybe not).

Anyway now seems like a great opportunity for companies to experiment with 4-day workweeks, whether 40 hours (better than nothing) or 32 hours.

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

#375

Post by q7xvh97o2pDhNrh »

gen220 wrote: post #370
ryandrake wrote: post #226

Earlier quoted context omitted.

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…

There are many people who reach the director level and then transition careers outside of tech, because they can no longer get hired at that level. This is especially common during a downturn, when there's less money to go around for people who are "inspiring", but can't "roll up their sleeves" or earn the respect of those who do. Depending on how long you've been in the industry, it might be because your sample size…

Yeah, I agree this is more accurate.

There's going to be a whole lot of people who peak with some fancy-sounding title at a no-name company. Then they fade into a vaguely-comfortable (but definitely not rich) obscurity where they can't fully retire — but they sort of drift along with occasional consulting gigs, or writing a niche Substack, or getting really into baking sourdough bread, or some other such nihilistic affectations.

In the grand scheme of things, it still beats having to get a real job.

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

#376

Post by nicoburns »

michaelt wrote: post #308
nicoburns wrote: post #250

Earlier quoted context omitted.

This guy was a part of creating that negative sum game in the first place. He shouldn’t be celebrated.

If Alex makes $100M selling middle eastern despots tech to track and dismember journalists, Bob makes $100M with his new tech to inject adverts into our dreams, Charlie makes $100M by selling the taxpayer fighter jets that don't work and charging to fix them, Doris makes $100M by offering high-interest payday loans to desperate financially illiterate people, Eric makes $100M getting people addicted to his prescriptio…

No, because that's what, 10 people? And there are millions of people who actually create value and enact good in the world. We should celebrate them.

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

#377

Post by paisawalla »

ghaff wrote: post #281
paisawalla wrote: post #220

Earlier quoted context omitted.

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…

On the one hand, I guess you need a certain level of social trust for newspaper dispensing machines to work. On the other hand, there's very little value to be gained by taking 10 newspapers. I suppose you can hawk them on the street for a discount but the benefit is pretty small.

On the third hand, the idea to ask "is more actually better than less" can only occur to people after they've become accustomed to a certain level of prosperity.

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

#379

Post by sanjayio »

throwawaybutwhy wrote: post #348
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.

> on the basis of mountains of backbreaking and incredibly impactful work I can spot (maybe unintentional) ambiguity from a mile away. Whose backs were broken, and who did the work.

Can you spot a metaphor?

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

#380

Post by newswasboring »

spamizbad wrote: post #327
newswasboring wrote: post #285

Earlier quoted context omitted.

Why would you respect a swindle man? That is what the rest of my post is talking about.

Why do you think Ocean's 11 was such a popular movie? Do you think the people watching it are rooting for George Raft/Terry Benedict?

Do I really have to elaborate on the difference between movies and reality?
Post reply on HN