4 ms·

How 'powerful' are employed? What is their employment status? At previous company CTO was in boards of another 5+ companies + owned partially another 2. How tha

by betaby 5y ago

How 'powerful' are employed? What is their employment status? At previous company CTO was in boards of another 5+ companies + owned partially another 2. How that works at 'that' level?

jareklupinski 5y ago
last cycle, I had two interviews on the same day for two different startups, and at both meetings one of the people in the room was the same, and yup they were the CTO of both places simultaneously they remembered who I was but insisted on following the script the second time too i did take the offer :) i think they were impressed because the second time they asked "where do you want to be in x years/where do you want your career going" I said "i want to be you/in your chair"
yunohn 5y ago
This is a really important point. While us salaried workers struggle in a 9-5, the powerful get multiple board positions that each pay more than our annual wages.
- sanjayio 5y ago
  To be fair, the 9-5 workers are paid for their hours, the multiple board positioned folks are often paid in equity, sometimes nothing, and have minimal 9-5 obligations. In having fewer 9-5 obligations, often none, it’s less immoral to have multiple board positions. Fwiw, I’m not on a board, just writing it how I see it.
  - yunohn 5y ago
    > 9-5 workers are paid for their hours 9-5 workers (in tech atleast) are rarely paid hourly - neither individuals nor managers. > it’s less immoral to have multiple board positions I would disagree - I find it immoral that you can be part of multiple decision-making boards, each earning multiples of a yearly wage, and somehow have so little work to do compared to a worker.
- rmk 5y ago
  Board members get equity compensation that can equal that of a pretty good high-level engineer, oftentimes way more. But they are responsible for the financial performance of the company and are also legally responsible for the company. They can also be named in lawsuits personally for breaches of fiduciary responsibility. Although corporations explicitly exist to shelter these people from liability, it is not 100% and there is some degree of risk involved. But it's a nice job if you can get it. You get to put in 3-4 hours of work a month for some pretty nice dough.
  - downrightmike 5y ago
    By responsible for financial performance, I believe you mean getting mean whipping employees until they make you more money.

by betaby 5y ago

How 'powerful' are employed? What is their employment status? At previous company CTO was in boards of another 5+ companies + owned partially another 2. How that works at 'that' level?

jareklupinski 5y ago

last cycle, I had two interviews on the same day for two different startups, and at both meetings one of the people in the room was the same, and yup they were the CTO of both places simultaneously they remembered who I was but insisted on following the script the second time too i did take the offer :) i think they were impressed because the second time they asked "where do you want to be in x years/where do you want your career going" I said "i want to be you/in your chair"

yunohn 5y ago

This is a really important point. While us salaried workers struggle in a 9-5, the powerful get multiple board positions that each pay more than our annual wages.

sanjayio 5y ago
To be fair, the 9-5 workers are paid for their hours, the multiple board positioned folks are often paid in equity, sometimes nothing, and have minimal 9-5 obligations. In having fewer 9-5 obligations, often none, it’s less immoral to have multiple board positions. Fwiw, I’m not on a board, just writing it how I see it.
- yunohn 5y ago
  > 9-5 workers are paid for their hours 9-5 workers (in tech atleast) are rarely paid hourly - neither individuals nor managers. > it’s less immoral to have multiple board positions I would disagree - I find it immoral that you can be part of multiple decision-making boards, each earning multiples of a yearly wage, and somehow have so little work to do compared to a worker.
rmk 5y ago
Board members get equity compensation that can equal that of a pretty good high-level engineer, oftentimes way more. But they are responsible for the financial performance of the company and are also legally responsible for the company. They can also be named in lawsuits personally for breaches of fiduciary responsibility. Although corporations explicitly exist to shelter these people from liability, it is not 100% and there is some degree of risk involved. But it's a nice job if you can get it. You get to put in 3-4 hours of work a month for some pretty nice dough.
- downrightmike 5y ago
  By responsible for financial performance, I believe you mean getting mean whipping employees until they make you more money.