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Engineers On Google's Self-Driving Car Project Were Paid So Much That They Quit (theverge.com)

Posted by BeauHD on from the f-you-money dept.

According to a new report from Bloomberg, most of the money Google spent on it self-driving car project, now spun off into a new entity called Waymo, has gone to engineers and other staff. While it has helped retain a lot of influential and dedicated workers in the short run, it has resulted in many staffers leaving the company in the long run due to the immense financial security. The Verge reports: 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.

4 of 95 comments (clear)

  1. Makes no sense by Anonymous Coward · · Score: 5, Insightful

    If they were only quitting because of financial security there wouldn't be a single CEO still working in silicon valley.
    More likely there was something wrong in the work environment.
    That combined with lots of money means they will move on to more fulfilling things.

    1. Re:Makes no sense by Zaelath · · Score: 4, Insightful

      There's no career path from Engineer to CEO.

      So:
      - They're really keen on money so they've become CEO of a company they founded in hopes of pulling a Zuckerburg, or
      - They're not really keen on money and want to work on things that interest them.

      Being cash bloated lets you do either.

    2. Re:Makes no sense by Wycliffe · · Score: 4, Insightful

      If they were only quitting because of financial security there wouldn't be a single CEO still working in silicon valley.
      More likely there was something wrong in the work environment.
      That combined with lots of money means they will move on to more fulfilling things.

      Notice how all 3 examples started their own business? There is a *huge* difference between "making tons of money *and* being able to call the shots" and "just making tons of money". I own my own business and make around 90k a year. I could likely make considerably more working for someone else and I've considered it a few times but I'm not sure the extra money would be worth losing all the perks I get from owning my own business.

  2. Sounds like everyone won though by interkin3tic · · Score: 4, Insightful

    So the engineers met the goals that earned the money. Google presumably didn't randomly set milestones, so the things they wanted they got. Headline makes it sound like there was an "oops," but I'm not seeing evidence of it.

    Also, with the amount of money being thrown around at anything involving startup+AI+"silicon valley," I'm surprised anyone still works at google. If Google hadn't paid them an absurd amount of the even more absurd money they have on hand, would they have ever gotten anyone competent to work on it?