this post was submitted on 01 Oct 2023
622 points (98.1% liked)

Technology

60076 readers
4105 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 2 years ago
MODERATORS
L3s
[email protected]
[email protected]
L4s
enu
622
In a leaked memo, Shopify CEO Tobi Lütke put limits on employees having side hustles, saying Shopify requires 'unshared attention' (www.businessinsider.com)
submitted 1 year ago by L4s to c/technology
124 comments fedilink hide all child comments
 

In a leaked memo, Shopify CEO Tobi Lütke put limits on employees having side hustles, saying Shopify requires 'unshared attention'::Shopify CEO Tobi Lütke discourages employees from side hustles in company memo, saying their jobs require their undivided attention.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 285 points 1 year ago (2 children)

“I’m excited to share that Tobias “Tobi” Lütke, CEO and founder of Shopify, will join Coinbase’s Board of Directors.”, CEO Coinbase, Brian Armstrong, 31st Jan 2022.

Hmm. Sounds an awful lot like a side hustle.

[–] pdxfed 21 points 1 year ago

Narrator: It was.

[–] scarabic 7 points 1 year ago (2 children)

I’ve often wondered about this kind of thing. Are board members paid? How much time does it take to be one? It always seems like they have people on the board who are only tangentially connected to the company. Why is that?

[–] [email protected] 7 points 1 year ago* (last edited 1 year ago)

Not terribly much time, by the looks of it. For example, look at the list of boards Disney CEO Bob Iger sits on:

https://www.wsj.com/market-data/quotes/DIS/company-people

Publicly traded companies should have their board compensation made public. Iger sits on a lot of philinthropic organizations; I think 501c3's will have that reported to the IRS. But he probably has a day long meeting for each once or twice a year.

Edit: here's Bloomberg Philinthropic's IRS filling (one of the boards Iger sits on). $10.9k per board member. https://projects.propublica.org/nonprofits/organizations/205602483

[–] Modern_medicine_isnt 5 points 1 year ago

For public companies you get elected by the share holders. If you own enough stock you can pretty much elect yourself. But otherwise it's a game of trading favors... cause a lot of stock is owned by large stock funds and what not, so you have sort of power brokers deciding on a large quantity of votes that they don't really own...