6 ms·

> a bunch of rich executives Before we grab the pitchforks and guillotines, exactly how "rich" are DigitalOcean's executives?

foepys 4y ago
Does it really matter? Even $10 million net worth is enough to not worry about most of the things that the average employee thinks about.
- steve76 4y ago
  [dead]
- luckylion 4y ago
  Even $1 million is enough to not worry about those things, at which point we're in the range of what many tech workers working for hot startups or big tech have made in the past couple years. They're often not saying who is being laid off. A bunch of engineers? Sales & marketing? I doubt that any of these companies (besides Amazon) even employ significant amount of low-wage staff, they get those via a staffing agency to avoid benefits and public responsibility for mistreatment.
  - trynewideas 4y ago
    > many tech workers working for hot startups or big tech have made in the past couple years I can guarantee you no tech writer has made $1 million in salary or compensation in two years.
    - luckylion 4y ago
      Probably, though the founder of CSS-Tricks probably did when he sold it. But many on this site are SWE and they maybe didn't make a million in the past two years, but in the past 5 years, the number will be significant. I assume DO didn't have 11% technical writers. These numbers are hard to judge if you don't know who got laid off.
      - trynewideas 4y ago
        Their tech writers were under their marketing team, and the CMO got exited as part of this. At least one tech writing team got laid off.[1] Their opt-in list includes six technical writers or editors out of about 152, but I've seen more writers announce on LinkedIn than are listed here. (Engineering took it on the chin, 73 listed.)[2] DO had invested a lot over the last few years into expanding its technical content library as a SEO strategy. They seem to have completely backed out of that investment. Coyier's $4M exit was nice, sure. Built on 15 years of work, though, alongside his primary job being a developer/designer and CodePen founder who also wrote, not as a full-time writer. Still standing by my guarantee that no technical writer here got north of $1M of salary or compensation for two years of work. Not even close. If any got north of $500k they're both role models and were probably overpaid for the market. 1: https://www.linkedin.com/posts/bphogan_hey-all-a-whole-bunch-of-amazing-people-activity-7031760011148087296-s_BK?utm_source=share&utm_medium=member_desktop https://www.linkedin.com/posts/bphogan_hey-all-a-whole-bunch... 2: http://do.co/sharks http://do.co/sharks
olliej 4y ago
Ok, we could add “or the hedge funds, VCs, that otherwise control the funds” to be more complete?
deleted 4y ago
[deleted]
blamazon 4y ago
In 2021 the CEO earned 82 million total compensation according to SEC proxy statement[1], then about 7-8 million for the next two named execs. [1] https://s27.q4cdn.com/619704647/files/doc_financials/2021/ar/2022_Proxy_Statement%5B1%5D.pdf https://s27.q4cdn.com/619704647/files/doc_financials/2021/ar...
- ithkuil 4y ago
  A million is not what it used to be. Jokes aside, I was surprised to learn that there are 24 million millionaires in the U.S. that's more than 10% the working-age population. It's still a minority of course, and probably most of them are people who saved enough throughout their whole career (while here we were talking about people who made multiple millions every year), but still I found it interesting
  - deleted 4y ago
    [deleted]
  - hnbad 4y ago
    There's a difference between having a net worth of a million dollars, ten million dollars and a hundred million dollars. There's also a world of a difference between having a million dollars and making millions of dollars every year. If you own your house, you can easily be a "millionaire" based on the total cost of ownership but that doesn't mean you have anywhere near the disposable income or institutional power as an exec making upwards of 5 million dollars per year.
    - chasd00 4y ago
      that's correct, there may be a lot of millionaires in terms of total wealth but very few can walk into a Porsche dealership and write a check for two 911 turbos.
      - blamazon 4y ago
        A check? You're gonna pass on all those credit card points?

foepys 4y ago

Does it really matter? Even $10 million net worth is enough to not worry about most of the things that the average employee thinks about.

steve76 4y ago
[dead]
luckylion 4y ago
Even $1 million is enough to not worry about those things, at which point we're in the range of what many tech workers working for hot startups or big tech have made in the past couple years. They're often not saying who is being laid off. A bunch of engineers? Sales & marketing? I doubt that any of these companies (besides Amazon) even employ significant amount of low-wage staff, they get those via a staffing agency to avoid benefits and public responsibility for mistreatment.
- trynewideas 4y ago
  > many tech workers working for hot startups or big tech have made in the past couple years I can guarantee you no tech writer has made $1 million in salary or compensation in two years.
  - luckylion 4y ago
    Probably, though the founder of CSS-Tricks probably did when he sold it. But many on this site are SWE and they maybe didn't make a million in the past two years, but in the past 5 years, the number will be significant. I assume DO didn't have 11% technical writers. These numbers are hard to judge if you don't know who got laid off.
    - trynewideas 4y ago
      Their tech writers were under their marketing team, and the CMO got exited as part of this. At least one tech writing team got laid off.[1] Their opt-in list includes six technical writers or editors out of about 152, but I've seen more writers announce on LinkedIn than are listed here. (Engineering took it on the chin, 73 listed.)[2] DO had invested a lot over the last few years into expanding its technical content library as a SEO strategy. They seem to have completely backed out of that investment. Coyier's $4M exit was nice, sure. Built on 15 years of work, though, alongside his primary job being a developer/designer and CodePen founder who also wrote, not as a full-time writer. Still standing by my guarantee that no technical writer here got north of $1M of salary or compensation for two years of work. Not even close. If any got north of $500k they're both role models and were probably overpaid for the market. 1: https://www.linkedin.com/posts/bphogan_hey-all-a-whole-bunch-of-amazing-people-activity-7031760011148087296-s_BK?utm_source=share&utm_medium=member_desktop https://www.linkedin.com/posts/bphogan_hey-all-a-whole-bunch... 2: http://do.co/sharks http://do.co/sharks

olliej 4y ago

Ok, we could add “or the hedge funds, VCs, that otherwise control the funds” to be more complete?

deleted 4y ago

[deleted]

blamazon 4y ago

In 2021 the CEO earned 82 million total compensation according to SEC proxy statement[1], then about 7-8 million for the next two named execs. [1] https://s27.q4cdn.com/619704647/files/doc_financials/2021/ar/2022_Proxy_Statement%5B1%5D.pdf https://s27.q4cdn.com/619704647/files/doc_financials/2021/ar...

ithkuil 4y ago
A million is not what it used to be. Jokes aside, I was surprised to learn that there are 24 million millionaires in the U.S. that's more than 10% the working-age population. It's still a minority of course, and probably most of them are people who saved enough throughout their whole career (while here we were talking about people who made multiple millions every year), but still I found it interesting
- deleted 4y ago
  [deleted]
- hnbad 4y ago
  There's a difference between having a net worth of a million dollars, ten million dollars and a hundred million dollars. There's also a world of a difference between having a million dollars and making millions of dollars every year. If you own your house, you can easily be a "millionaire" based on the total cost of ownership but that doesn't mean you have anywhere near the disposable income or institutional power as an exec making upwards of 5 million dollars per year.
  - chasd00 4y ago
    that's correct, there may be a lot of millionaires in terms of total wealth but very few can walk into a Porsche dealership and write a check for two 911 turbos.
    - blamazon 4y ago
      A check? You're gonna pass on all those credit card points?