3 ms·

So what ? Id sell some part too if I was overnight a centimilionnaire. What am i supposed to do with this info ?

by mam3 5y ago

jaytaylor 5y ago
Yeah, he got his! What about all that "this is only the beginning" talk? _grin_
- alwayseasy 5y ago
  How can you do a direct listing without selling your shares? He had to show leadership there by selling 1.5% of his shares.
  - jaytaylor 5y ago
    I understand, just think it's funny and slightly insane that 1.5% of his shares are worth a quarter billie. His public character may be questionable by my standards (i.e. being a non BLM supporter - atrocious), but regardless I'm still genuinely happy for him! This is an exit entrepreneurs dream of. Exciting times. :)
    - jokethrowaway 5y ago
      I find it questionable to support a movement which think violence, burning down buildings and rioting is protesting. That said, it's easier to be honest for Coinbase than physical retail stores - BLM can't steal TVs from Coinbase
- stickfigure 5y ago
  No matter how optimistic you are, you're an idiot if you don't diversify. By any reasonable standard, 1.5% isn't much.
  - ForHackernews 5y ago
    > you're an idiot if you don't diversify That's not what the HODL gang has been telling me. Have fun staying poor, Mr. Armstrong.
rocqua 5y ago
Whilst I fully agree, I think some might argue you want your CEO to be fully invested in the success of the company. At this point Brian Armstrong could just coast on the job, and live of his $300 M for the rest of his life. It might be more motivating for him to not have that cushion. At least that is the theory people usually have.
- totalZero 5y ago
  One alternative viewpoint: He got so rich on the DPO that he learned the massive enrichment power of building a strong business. It's easy to picture a motivation to ring the register here, but it's also easy to view the windfall as a motivator.
- tgv 5y ago
  A fool and his money.
- onetimemanytime 5y ago
  well, he is an owner and he has paid his dues.
- jpalomaki 5y ago
  Let’s say an opportunity comes up with 10% chance of making Coinbase $5T company and 90% chance of sending value to 0. A shareholder with properly balanced portfolio would likely go for the $5T option. Fully invested CEO might want to stay safe and even avoid bringing up this opportunity as there’s 90% chance for him to loose everything.
- mam3 5y ago
  Its 1% of his money
  - rocqua 5y ago
    He still has massive exposure to coinbase, certainly. He no longer has the threat of poverty if his company fails. He has a nice 300 million cushion should anything go wrong. You could say that makes him less likely to put in maximum effort.
saagarjha 5y ago
I wish people used the term "hectomillionaire" :(
- davidivadavid 5y ago
  Lean into the confusion and act surprised when they question you telling them you're a centimillionaire too.

So what ? Id sell some part too if I was overnight a centimilionnaire. What am i supposed to do with this info ?

by mam3 5y ago

So what ? Id sell some part too if I was overnight a centimilionnaire. What am i supposed to do with this info ?

jaytaylor 5y ago

Yeah, he got his! What about all that "this is only the beginning" talk? _grin_

alwayseasy 5y ago
How can you do a direct listing without selling your shares? He had to show leadership there by selling 1.5% of his shares.
- jaytaylor 5y ago
  I understand, just think it's funny and slightly insane that 1.5% of his shares are worth a quarter billie. His public character may be questionable by my standards (i.e. being a non BLM supporter - atrocious), but regardless I'm still genuinely happy for him! This is an exit entrepreneurs dream of. Exciting times. :)
  - jokethrowaway 5y ago
    I find it questionable to support a movement which think violence, burning down buildings and rioting is protesting. That said, it's easier to be honest for Coinbase than physical retail stores - BLM can't steal TVs from Coinbase
stickfigure 5y ago
No matter how optimistic you are, you're an idiot if you don't diversify. By any reasonable standard, 1.5% isn't much.
- ForHackernews 5y ago
  > you're an idiot if you don't diversify That's not what the HODL gang has been telling me. Have fun staying poor, Mr. Armstrong.

rocqua 5y ago

Whilst I fully agree, I think some might argue you want your CEO to be fully invested in the success of the company. At this point Brian Armstrong could just coast on the job, and live of his $300 M for the rest of his life. It might be more motivating for him to not have that cushion. At least that is the theory people usually have.

totalZero 5y ago
One alternative viewpoint: He got so rich on the DPO that he learned the massive enrichment power of building a strong business. It's easy to picture a motivation to ring the register here, but it's also easy to view the windfall as a motivator.
tgv 5y ago
A fool and his money.
onetimemanytime 5y ago
well, he is an owner and he has paid his dues.
jpalomaki 5y ago
Let’s say an opportunity comes up with 10% chance of making Coinbase $5T company and 90% chance of sending value to 0. A shareholder with properly balanced portfolio would likely go for the $5T option. Fully invested CEO might want to stay safe and even avoid bringing up this opportunity as there’s 90% chance for him to loose everything.
mam3 5y ago
Its 1% of his money
- rocqua 5y ago
  He still has massive exposure to coinbase, certainly. He no longer has the threat of poverty if his company fails. He has a nice 300 million cushion should anything go wrong. You could say that makes him less likely to put in maximum effort.

saagarjha 5y ago

I wish people used the term "hectomillionaire" :(

davidivadavid 5y ago
Lean into the confusion and act surprised when they question you telling them you're a centimillionaire too.