Feels like a lot of FUD to me. Long time employees are cashing out because they’re very rich now. Pretty common for people from acquisition to leave to for various reasons (they got paid on being acquired, stock vested, weren’t hired at the company so don’t really buy into the culture or have strong emotional ties). There’s some FUD around social issues and based on my reading, Lutke doesn’t seem very culpable. As much as I support social issues, I think tech companies have taken it to the extreme when it comes to company involvement. Execs leaving are probably a combo of being rich enough to quit and maybe a couple cases of bad fits. The latter happens all the time.
Is this the guy who wants all employees to be 40% better every year?
Correct.
They loved the message and moved where they could get 40% better. Kudos to his leadership 👏 👏
Let's be realistic here. The controversies at Coinbase, Basecamp and Shopify all center around the same thing: getting the most vocal employees who are likely to unionize to leave the company. The fact that this happened only a few months after hundreds at Google unionized is no coincidence. Tobi and others are stealth union busting by getting these types to walk, and replacing them with new hires who will keep their mouth shut for a paycheck. These people know exactly what they are doing, and it's working.
That’s a very good point… I listened to a podcast yesterday about something similar called “who is the boss” the social uprising in tech. Google’s decision to give everyone a voice is beginning to back fire on tech and causing everyone to think they can question leadership and companies are going to remove that voice.
is that on apple podcasts? can’t seem to find it
The guy dresses like a gopnik from outskirts in Eastern Europe.
He is originally from Germany, close enough.
If someone joined pre-ipo or when the stock price was around 40$ and held all their stocks and even got as low as 50K in RSU they'd be a millionaire now (after paying capital gain taxes). I imagine there are a couple of hundred people like that, no? I would leave the moment I reached FIRE.
What’s the average amount of money you need to reach FIRE
Shopify being the biggest player gets away with paying employees way below market. Hopefully now that there’s more remote competition for top talent they’ll actually try retaining them by paying people fairly not just talking about how competitive they pay
I think it works the other way. Now that there is remote competition they can continue paying what they are paying because they will be able to find people who are able to work at that salary
Lots of people are leaving. The culture was incredibly great pre covid but with fully remote and incredibly fast hiring, the culture has gotten a lot worse
Any new updates here?
Support is unionizing
Paywall….. what’s it say…. From the company that expects you to run through a wall for it
Basically - Since April over half c-level has left because of CEO. Now many in the middle ranks are claiming people are leaving like crazy without a new job lined up.
The ceo comes off as a wannabe Jeff B