Payments giant Stripe is cutting 14% of its staff, or more than 1,000 jobs, with co-founders John and Patrick Collison saying the company had made a mistake by over-hiring with the expectation that the pandemic fueled e-commerce boom would continue. Stripe, which had a post-money valuation of $95 billion after its most recent private fundraising announced last March, is one of a number of...
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Stop Paying People So Much
Every startup leadership team wrestles with the trade-offs between growth and profitability. This is fitting and ever shall be. What teams don’t reflect on sufficiently is how a flawed compensation philosophy can make those trade-offs far more painful than they could be. As a former entrepreneur, I know that every venture relies on the exceptional efforts of supermotivated professionals,...
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