I don't say this to bash your statement, I agree with you in principle. Just useful to keep in mind that the context matters. Sometimes, the people complaining about having to compensate for the low performer, are the actual low performers.
I don't say this to bash your statement, I agree with you in principle. Just useful to keep in mind that the context matters. Sometimes, the people complaining about having to compensate for the low performer, are the actual low performers.
Why not dilute the shareholder pool by a serious amount? There's no need for a statization to formally happen, the government can sell the shares back over time without actually exercising control.
Also fire execs and ban them from holding office on publicly traded companies for the foreseeable future.
Seizing shares doesn't impact the cash flow of the company directly, thus shouldn't cause job losses, but shareholders (who should put pressure on executives and the board to act with prudence to avoid these kinds of disasters) are adequately punished.
You probably want, in addition to your proposal, executive stock-based compensation to be awarded in a different share class, used to finance penalties in such cases where the impact is deemed to be the result of gross negligence at the management level.
The Myth of the Genius Programmer: https://www.youtube.com/watch?v=0SARbwvhupQ
The Art of Organizational Manipulation: https://www.youtube.com/watch?v=OTCuYzAw31Y
I rewatch these every few years, or before an interview. Puts me back in the right headspace.
If you're reading this Ben, thank you.
It starts with some general points one could summarize as defining a "good culture" and how that should pay off for both employer and employees, but then later tramples all over it by excusing or outright endorsing the exact type of political behaviour that was criticized at the beginning: upward perception, the favour economy, finding influential friends, connectors, not burning bridges, and facetime.
edit: The mentioned plan B (leaving) is really the only option for what they call a "hostile corporation". I don't agree with many of the plan A "learning to play the game" recommendations. This just changes you for the worse.
1) assuming the user understands what they want/need - this is rarely the case. Figuring out what they really need is your job.
2) assuming that what you are building is something the user wants - until people use it, you have no proof for this. Lots of startups fall into the trap of building stuff that nobody wants or needs.
3) assuming what users ask for is actually what they need - always figure out why they are asking for this, whether they are actually going to use it if you build it (I've had cases where we built stuff that was never used), and what it is worth to them.
4) assuming that what your sales people say the customer wants is actually what they want or need. This one is tricky. I've had sales people go "unless you build X, I can't close the deal" and then you build X and it doesn't make a difference. Reason: the sales person's analysis was wrong.
Especially with new products, figuring out if it is something users want is tricky. Do users actually like the new thing? They won't be asking for it because it is a new thing. You have to pitch and explain the thing to them and even then they still might not get it. Only when you show them the thing and they like it will you get some confirmation that this might be something they want/need.
The classic example is selling cars when they were invented is that all customers ever asked for was faster horses.
> You have to pitch and explain the thing to them and even then they still might not get it. Only when you show them the thing and they like it will you get some confirmation that this might be something they want/need.
If you have to build first in order to pitch and show it, then necessarily you've had to assume that what you were building is something they want. Maybe your point was to get new features quickly into the hands of users to test the assumption early, but that has its own significant downsides.
I like the way you phrased it though, in terms of "don't assume foo" instead of "do bar", because it implies that there's really no replacing good old-fashioned _thinking_ with blindly following a 5-step plan to success.
If you seem hesitant, if you seem unsure about what you did and why, it's not good. Why should an employer trust you with the job if even you don't trust yourself that much.
From two people, one with lower technical skills but with good people skills, projecting trust and confidence, the other with better technical skills, the former will almost always win the job. Employers want wheels that work well with other wheels and turn fast.
I understand that some people see an interview as a sales meeting, but in the end, if it works out, what results is both sides having to interact with each other on a daily basis ideally for a long time.
An employment relationship is in the end a relationship between people. Embellishing in an interview just makes that relationship uncomfortable.
When a less powerful country does that, it bears most or all of the cost itself. When the US does it, much of the inflationary cost is borne by all other countries that use the dollar as a reserve currency. Other countries don't have a reserve currency like the dollar.
If China plays its cards right, the US is going to start having a bad time still this decade. The US should be aggressively trying to reach a more balanced economy. The distribution of not just wealth, but of the ability to generate wealth, leaves the US on very shaky ground.
the money isn't printed. It's debt, which is different. The debt is expected to be repaid, with interest.
If you actually printed money, which does not have interest to be repaid, then the amount of circulating money would've increased permanently. Therefore, the expectation is that each printed dollar is worth less. By borrowing instead of printing, you don't have this permanent increase in money supply. Of course, there are other ways to increase the money supply, which is to control how much debt actually makes it into the system - but this can be regulated as required by the economy.
> Other countries don't have a reserve currency like the dollar.
the dollar being reserve is not really "forced" upon other countries - it's a choice they made to use USD as their reserve. They do it because other parties trust it. They could use the japanese Yen, or even the chinese yuan. And yet, majority of entities choose to use the USD.
They do it because it's a relatively stable currency. They do it because other people accept it, and they do it because there's some trust that the US won't print money like Venezuela or Zimbabwe.
You have to get your head around the fact that this is an open-ended system, the music never has to stop so long as the sun rises and we stay on this monetary system. The same way people still get "wealthier" from stock market appreciation, even though there is a buyer for each seller, so too does more debt indeed mean a permanent increase in money supply[1].
We should be encouraging people to grow, and we should be rewarding them based on something as close to product/customer impact as possible.
If someone is an incredible Senior dev who doesn't want the cross-team responsibilities of a Staff dev or people management responsibilities, then yes, they should be OK to stay as a Senior dev without pressure that they HAVE to do something else. This doesn't mean that you should pay them as much as a Staff, because a Staff has more impact and that's why you're paying them more.
In particular, you want well-defined pay bands for job titles, because otherwise things get unfair quickly. Best case people find out that people are getting paid rapidly different amounts for the same job, get angry, and leave. Worst case there's a pattern where you're paying all of demographic X less than everyone else and you get sued.
This is only a problem if the disparity does not match the difference in contribution. I'm sure most of us have been in situations where ourselves and two other people have the same job and are earning roughly the same, and we perceive the situation as massively unfair because one of them should be earning half as much, and the other twice as much. I've been in teams where I would have been perfectly ok with specific people earning twice as much as myself. It's ok to admire someone's skill, be motivated to reach it, and accept that they should earn more in the meantime.
In practice ego makes truly merit-based compensation impossible to implement. We just often think too highly of ourselves. The other obstacle is that the difference in contribution from a low-performer to a high-performer varies widely with profession, with software development being (in my opinion) one of the widest.