41–50 of 67 posts
Actually the 1$ salary is a well known tax dodge - its a aggressive way of avoiding income tax - everyone will have there own take on what this says about them as an individual.
The CEO's salary should be the amount that maximizes the startup's chances of succeeding. For a young/single or independently wealthy founder that's as close to zero as possible. For a founder with family (like me) that's the lowest amount that puts all concern about supporting his/her children out of mind, so the CEO can focus. That number can really range.
"...Thiel believes that a CEO should not be paying themselves more than $150,000, even after a Series A investment. Anything above that shows a lack of motivation to the company and to the future success of the company." Anything above? Really? This assumes a few things. First that the cost of living is the same for any CEO. A CEO at a startup in NYC or SV has considerably higher cost of living than a CEO located in…
Does having 9 children make him a better CEO than someone with a more typical number of children? If not, then why is that relevant to what a company should pay him?
No, the reason it makes me sick is that VCs and three-digit millionaires and billionaires really should stop copping this attitude. We get it, you guys don't need generous salaries, or salary at all.
Earlier quoted context omitted.
I really can't understand this kind of lack of perspective. Ask your waitress, or barista, or the guy that changes your oil sometime if they have a "9 to 5, low stress job". Because they don't. And no one's paying them $150,000 a year--more than three times the median household income in the United States--to make them feel better about it.
I do not have a lack of perspective. I have been a server, a security guard, worked for minimum wage at a beagle shop etc. Now my job is much better than those jobs, but I still remember how "tough it was". It was tough in the sense that stress came from uncertainty in paychecks and in social status. But, that type of stress does not compare to being the CEO of even a small company. If you make $100k in most cities t…
~95% of Americans individual income is less than $100K [1] and while there are sadly many people living in poverty, that the other end of the scale. $150k a year is more than enough for a multi-person single earner family, you just might have to forgo that penthouse with a Central Park view for something that, shock horror, is in the outer boroughs. You know, like most New Yorkers. (I'm sure there is a similar analog…
Earlier quoted context omitted.
Most people with kids and mortgages get by on less than 150k. If you really can't make ends meet on 150k you've overextended yourself.
Not in sf or nyc. a low end (not dumpy, but definitely not high end with a doorman) 2 bed apartment is going to run you $650k in the decent bits of sf and more in nyc. In sf, you end up paying approx $1100 per month per million dollars of value in property taxes. So $715 in taxes, $300 or so in insurance, a $2500 mortgage, and you can easily be spending $3500-$4k/mo (after taxes) on housing. Using the rough rule of t…
If you are right, then 90% of the households in San Francisco are living in below low end housing. I have a hard time believing that.
Earlier quoted context omitted.
Yes, but they have 9 to 5, low stress jobs. I want the CEO of a company I work for/invest in etc. to be focused on the business, not saving. I want them to feel good about their personal expenses so they can focus on the business.
I really can't understand this kind of lack of perspective. Ask your waitress, or barista, or the guy that changes your oil sometime if they have a "9 to 5, low stress job". Because they don't. And no one's paying them $150,000 a year--more than three times the median household income in the United States--to make them feel better about it.
Why do you want a CEO of a company who has investors' money, employee's livelihoods and the possibility to improve the world living with roommates, cooking his/her own food to save money, and wasting time when that CEO could be 100% focused on the business?
I'm not advocating we pay him/her $500,000/year, but $150,000 is very fair.
Earlier quoted context omitted.
>> Most people with kids and mortgages get by on less than 150k. > Not in sf or nyc. It's still trivially true that most people in SF and NYC, including married adults with families, get by on way less than $150k. Even Upper-East-Side Manhattan, one of the wealthiest zip codes in the U.S., has average incomes "only" in the high 5 figures. Maybe there is a small section of Nob Hill where $150k incomes are normal, but…
Even Upper-East-Side Manhattan, one of the wealthiest zip codes in the U.S., has average incomes "only" in the high 5 figures. East of Lexington, the UES is upper-middle-income yuppies. Apartments are affordable but very small: like 400 SF for $2,000 per month. Not an option if you have kids. Also, if UES is defined from 59th to 110th street, that includes areas in the north that are low-income and more like Harlem t…
Earlier quoted context omitted.
I really can't understand this kind of lack of perspective. Ask your waitress, or barista, or the guy that changes your oil sometime if they have a "9 to 5, low stress job". Because they don't. And no one's paying them $150,000 a year--more than three times the median household income in the United States--to make them feel better about it.
I do not have a lack of perspective. I have been a server, a security guard, worked for minimum wage at a beagle shop etc. Now my job is much better than those jobs, but I still remember how "tough it was". It was tough in the sense that stress came from uncertainty in paychecks and in social status. But, that type of stress does not compare to being the CEO of even a small company. If you make $100k in most cities t…