Google Paid Top Talent So Much That They Quit

Discussion in 'HardForum Tech News' started by cageymaru, Feb 13, 2017.

  1. cageymaru

    cageymaru [H]ard as it Gets

    Messages:
    19,709
    Joined:
    Apr 10, 2003
    When Google starts a new business venture, they tend to give huge bonuses for employees to stay and invent. These bonuses are based on the perceived value of the new venture. Needless to say, autonomous cars is a hot commodity today, and the Google employees working in the new Waymo division were well compensated. The bonuses were so ridiculous that employees coined the term "F-you money." They even received compensation as investments into the company and multipliers based on periodic evaluations. Some became millionaires on a product that still has years of R&D left before it can come to market!

    This sounds like a great concept in theory, but in reality it has caused these employees to quit the company altogether. It seems that paying employees so well that they are financially independent means that they will leave and start their own companies, or work for someone else if a leadership change comes along. Also Google had to explain a 14% hike in operating costs because of the bonuses. Some employees even were able to start businesses with over $1 billion raised from venture capitalists. What a nice problem to have for the employees and a tangled web for Google.

    A large multiplier was applied to the compensation packages in late 2015, resulting in multi-million dollar payments in some cases, according to the people familiar with the situation. One member of the team had a multiplier of 16 applied to bonuses and equity amassed over four years, one of the people said. They asked not to be identified talking about private matters.
     
    Last edited: Feb 13, 2017
  2. ElBerryKM13

    ElBerryKM13 [H]Lite

    Messages:
    116
    Joined:
    Apr 3, 2015
    I wish I had that kind of "problem" f-YOU money lol
     
  3. sboucher

    sboucher Gawd

    Messages:
    550
    Joined:
    Oct 7, 2004
    LOL, this world we live in is seriously messed..
     
    XBarbarian, tetris42 and euskalzabe like this.
  4. Cyraxx

    Cyraxx 2[H]4U

    Messages:
    4,059
    Joined:
    Feb 21, 2005
    I would think if they are paying these guys this much that all the intellectual property is (obviously) sticking with Google.

    At the same time, I would add in a clause to their sign-on and lucrative pay that they cannot go to a competitor or start a matching business for a few years.
     
    Nukester, Armenius and cageymaru like this.
  5. rewted

    rewted [H]ard|Gawd

    Messages:
    1,561
    Joined:
    Jul 4, 2005
    They didn't coin the term "fuck you money" by a long shot.
     
    YeuEmMaiMai likes this.
  6. Gigus Fire

    Gigus Fire 2[H]4U

    Messages:
    2,275
    Joined:
    Oct 14, 2004
    Isn't this a good thing?
     
    Rysen, Nukester and lironmiron like this.
  7. WorldExclusive

    WorldExclusive [H]ardForum Junkie

    Messages:
    10,866
    Joined:
    Apr 26, 2009
    Once people make enough money form a workplace, they believe that they can do it better.
    That's why the hiring processhas to be selective with non-compete agreements.

    Sometimes the phrase "overqualified" really means "you have the potential to steal our ideas."
     
    Last edited: Feb 15, 2017
    lostinseganet likes this.
  8. Galvin

    Galvin 2[H]4U

    Messages:
    2,694
    Joined:
    Jan 22, 2002
    Wait what, so people leave the golden goose? if you made 1million, then you stay cause most likely you'll double that.
     
    {NG}Fidel likes this.
  9. Trepidati0n

    Trepidati0n [H]ardForum Junkie

    Messages:
    8,817
    Joined:
    Oct 26, 2004
    People with a good head on their shoulders understand that the only thing you can't buy more of (at least yet) is time. The person who dies with the most money is still dead.
     
  10. the_servicer

    the_servicer [H]ard|Gawd

    Messages:
    1,986
    Joined:
    Aug 16, 2013
    Yeah, not even close.
     
  11. Bowman15

    Bowman15 [H]ard|Gawd

    Messages:
    1,224
    Joined:
    Apr 7, 2015
    That much money on the line and the contract never included a set period of time before leaving and or a no compete clause?
     
  12. thejokker

    thejokker Gawd

    Messages:
    821
    Joined:
    Mar 16, 2005
    Self driving cars = a money making scam on multiple levels
     
    endalykt and Compddd like this.
  13. 0neTwo

    0neTwo Limp Gawd

    Messages:
    347
    Joined:
    Jan 8, 2016
    first world problems
     
  14. travisty

    travisty Gawd

    Messages:
    815
    Joined:
    Feb 3, 2016
    No. "The One Percent" problems
     
  15. Nukester

    Nukester [H]ard|Gawd

    Messages:
    1,429
    Joined:
    Mar 21, 2016
    Very Shallow thinking. Kill the 1% and the 2% become the next 1%. do it over and over again and you have nothing left.
     
  16. toast0

    toast0 Gawd

    Messages:
    909
    Joined:
    Jan 26, 2010
    Non-competes in California are very limited -- you can't prevent someone from leaving to go work at a competitor, only prevent them from working at a competitor while working for you. They probably have vesting on this, but since self-driving cars is a long process, some people are going to vest before it makes money.
     
  17. euskalzabe

    euskalzabe Gawd

    Messages:
    969
    Joined:
    May 9, 2009
    Wow... that's pretty much all I can say.
     
  18. Bowman15

    Bowman15 [H]ard|Gawd

    Messages:
    1,224
    Joined:
    Apr 7, 2015
    Is that a California thing with such limited non-competes?
     
  19. Youn

    Youn [H]ardness Supreme

    Messages:
    5,310
    Joined:
    Jan 22, 2007
    nothing left = everyone makes the same amount of money?
     
    Rysen likes this.
  20. NickJames

    NickJames [H]ardness Supreme

    Messages:
    6,602
    Joined:
    Apr 28, 2009
    Nope, pretty sure the term has been around as long as the word itself.
     
  21. BlueFireIce

    BlueFireIce [H]ardness Supreme

    Messages:
    6,121
    Joined:
    May 29, 2008
    It's not the money that made them leave, its that the very people that get the biggest bonus and pay are the same ones with drive and ideas, which also makes them the highest risk of leaving. Others will want to poach them to come to work for them, and/or if driven enough get funding from venture capital to start their own company that could dwarf that income.

    This is a great example of "Correlation does not imply causation".
     
    bloosteak, Rysen and britjh22 like this.
  22. TheHig

    TheHig Limp Gawd

    Messages:
    477
    Joined:
    Apr 9, 2016
    Great stuff! Perhaps even people at the top are just working for a paycheck while thier passion lies elsewhere. If the piggy bank gets big enough. Eff it dude, let's go bowling.
     
    Rysen and cortexodus like this.
  23. shspvr

    shspvr Gawd

    Messages:
    735
    Joined:
    Nov 22, 2009
    Cool video LoL
     
  24. gigatexal

    gigatexal [H]ardness Supreme

    Messages:
    7,153
    Joined:
    Jun 22, 2004
    Labor Econ 101 and he labor-leisure curve. I'm surprised Google didn't see this coming.
     
    TheHig likes this.
  25. Nukester

    Nukester [H]ard|Gawd

    Messages:
    1,429
    Joined:
    Mar 21, 2016
    Fuck that. You can strive to be average if you want. I want to work hard and excel. Make more.
     
  26. amddragonpc

    amddragonpc [H]ard|Gawd

    Messages:
    1,996
    Joined:
    Sep 20, 2012
    Waymo? Like, "I got way mo money than you, bruh?" LOL
     
    Youn likes this.
  27. Twisted Kidney

    Twisted Kidney 2[H]4U

    Messages:
    3,503
    Joined:
    Mar 18, 2013
    The problem is not what these people were paid, the problem was their interest in the projects they were working on.
     
    Rysen likes this.
  28. Zarathustra[H]

    Zarathustra[H] Official Forum Curmudgeon

    Messages:
    28,023
    Joined:
    Oct 29, 2000
    Cant wait for this to become an excuse to lower my pay....
     
    Rysen, JackNSally, Flogger23m and 2 others like this.
  29. Kelter

    Kelter Limp Gawd

    Messages:
    343
    Joined:
    Dec 23, 2005
    Anyone ever watch Silicon Valley on HBO? I think a lot of why it is funny is because a lot of it is true. And if you do watch, you probably already know Hooli is a direct play on Google. There are MANY Big Head's here in the bay area. The trick is getting to be one of them :)
     
    Burticus likes this.
  30. potency

    potency Gawd

    Messages:
    848
    Joined:
    Dec 1, 2010
    It's not about killing anyone, it's about the grossly unnecessary concentration of wealth stagnating the entire economy.
     
  31. Burticus

    Burticus 2[H]4U

    Messages:
    3,870
    Joined:
    Nov 7, 2005
    LOL I have a "relative" who works at a certain "company". I asked that person which company they thought Hooli was based on. Said person replied "Yahoo". I laughed internally but didn't say a word. Pot, meet Kettle.

    If Google is too stupid too realize there is a fine line between paying people enough and WAY too much, then so be it. I know from first hand experience that throwing money at people without demanding realistic goals is just.... stupid.
     
  32. BulletDust

    BulletDust [H]ardness Supreme

    Messages:
    6,057
    Joined:
    Feb 17, 2016
    Now....How to get a job at Google.... ;)
     
    gigatexal likes this.
  33. toast0

    toast0 Gawd

    Messages:
    909
    Joined:
    Jan 26, 2010
    Yes, it's California law that "Except as provided in this chapter, every contract by which anyone is restrained from engaging in a lawful profession, trade, or business of any kind is to that extent void." As a public policy, California wants people to have the right to make a living and not be stuck with an employer. From my evening's reading, it might not even be legal to prevent someone from working for a competitor at the same time; exceptions are for business owners who sold their business.
     
  34. travisty

    travisty Gawd

    Messages:
    815
    Joined:
    Feb 3, 2016
    rflcptr likes this.
  35. tetris42

    tetris42 [H]ardness Supreme

    Messages:
    4,518
    Joined:
    Apr 29, 2014
    Yeah, it's not that the 1% are specifically the problem so much as the power and resources we bestow upon them as a system. Society needs a balance patch. The 1% literally have as much as everyone else combined:

    http://www.bbc.com/news/business-35339475
     
    DocSavage likes this.
  36. Bowman15

    Bowman15 [H]ard|Gawd

    Messages:
    1,224
    Joined:
    Apr 7, 2015
    It's pretty much legal everywhere else and has been proven in court with a signed and agreed to no compete contract. You can either sign or not sign, nobody is forced to. By looking at this specific scenario the money is outrageous enough that who else would pay that much?

    That being said there may be time limitations on said contracts, i.e., 3-5 years etc., so they might expire in certain cases.
     
  37. Nukester

    Nukester [H]ard|Gawd

    Messages:
    1,429
    Joined:
    Mar 21, 2016
    This whole "take from others" mentality is just damn scary. I will never understand a socialist. Take take take.
     
  38. Youn

    Youn [H]ardness Supreme

    Messages:
    5,310
    Joined:
    Jan 22, 2007
    so the idea of a healthy society is "damn scary"? hasn't socialism been a big reason for the nice things we have today, like roads, schools, security, entertainment? how does it work when the government isn't taking any money at all and we rely on charity alone?
     
  39. BlueFireIce

    BlueFireIce [H]ardness Supreme

    Messages:
    6,121
    Joined:
    May 29, 2008
    History would beg to differ.
     
  40. Nukester

    Nukester [H]ard|Gawd

    Messages:
    1,429
    Joined:
    Mar 21, 2016
    I can't even have a conversationg with someone that has this mindset. It's so dependent on others. God forbid socialistic people ever run into a situation where they have to fend for themselves.

    Thus the term, "Snowflake". Now I know why it is fitting.

    Nothing wrong helping other people, but don't take my money to do it. Donate your paycheck (if you even work). I'll donate to causes and organizations that don't blow 80% of it on "administrative fees", like our Gov't.