Now, employees at Google's Waymo division bailed as soon as they got f%$#-you money:
Google has spent a lot of money on its self-driving car project, now spun off into a new entity called Waymo. Much of that money has gone to engineers and other staff, according to a new report from Bloomberg. In order to keep self-driving staffers happy — and, presumably, from leaving the company for other firms doing similar work — Google backed the proverbial Brinks truck up to the self-driving department and unloaded.These were people who were eager to leave, and as soon as they were secure, they left.
Bloomberg says that early staffers “had an unusual compensation system” that multiplied staffers' salaries and bonuses based on the performance of the self-driving project. The payments accumulated as milestones were reached, even though Waymo remains years away from generating revenue. One staffer eventually “had a multiplier of 16 applied to bonuses and equity amassed over four years.” The huge amounts of compensation worked — for a while. But eventually, it gave many staffers such financial security that they were willing to leave the cuddly confines of Google.
Two staffers that Bloomberg spoke to called it “F-you money,” and the accumulated cash allowed them to depart Google for other firms, including Chris Urmson who co-founded a startup with ex-Tesla employee Sterling Anderson, and others who founded a self-driving truck company called Otto which was purchased by Uber last year, and another who founded Argo AI which received a $1 billion investment from Ford last week.
This does not say positive things about the workplace.