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> I recently told the CEO of a recruiting agency about this compensation model. She told me that if you even mention crypto, more than half your engineering can
by ZeWaka 2y ago
> I recently told the CEO of a recruiting agency about this compensation model. She told me that if you even mention crypto, more than half your engineering candidates will immediately say “no” to your company.
For good reason. Also, their 'sister article' about the details of the token are a private google doc. Quite promising.
- marcell 2y agoApologies, just made it public: https://docs.google.com/document/d/1VvxEQBRexuFJT5qCr9MCeZRVkzJUVSAFJ_hxa5yEDAg/edit?tab=t.0 https://docs.google.com/document/d/1VvxEQBRexuFJT5qCr9MCeZRV...
- infrawhispers 2y agoHey! The doc you linked allows anon edits. You should make it read only :)
- Rendello 2y agoMaybe they were hoping someone would complete their "TODO: finish" ;)
- romanhn 2y ago"Half" seems like a significant underestimation.
- rachofsunshine 2y agoI'm the person OOP is quoting in the article. It's an estimate based on two observations: - 23% of candidates tell us outright that they don't want us to match them with crypto (see chart here: https://bsky.app/profile/otherbranch.bsky.social/post/3l4wodnia7c2d https://bsky.app/profile/otherbranch.bsky.social/post/3l4wod... ) - About 36% of candidates who didn't, that we end up reaching out to about a crypto role, decline it explicitly because it's crypto. So: 23%, plus 36% of the remaining 77%, equals just north of 50%. Add in a few who don't turn it down outright but who end up withdrawing later, and you get a bit north of half.
- romanhn 2y agoThe rates are believable, but this seems somewhat different from what the thread is about - compensation in tokens rather than equity. I suspect many an engineer who's OK with crypto work in general will balk at this arrangement. EDIT: I reread the original comment. It technically makes sense, but still I think answers a different question than the one posed about the compensation model.
- rachofsunshine 2y agoThat might very well be true! But I didn't have hard numbers on that, and I did have hard numbers on crypto-industry-openness.
- enknamel 2y agoIs equity in crypto any better than the crypto?
- LinuxAmbulance 2y agoI've been invited to be a founding engineer a few times now, and crypto backed things are an instant no. How would this hold up in court? Let's say things go south and the founders drop everything and take what funds there are with them. Can I go to court and say "Hey, I have a crypto token for...". Before I even finish the sentence, I'd get laughed out of the room. There's more ways it can go wrong than it can go right, and that's saying something when it comes to startups to begin with. Either its a fixed percentage, on paper, with clear, legally defined terms, or it's effectively worthless.
- AlienRobot 2y agoPeople in my neighborhood have "invested" and it's almost like they told me "hey so I have started doing crack lately." It just filled me with grief.