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Millionaires’ Club

January 11, 2005

google ipo.jpg
Various news outlets on the Web got a hold of “embarrassing disclosures” about the new rich at Google. News.com ticked off a number of ways that this can hurt the company: 1) Cubicle-to-cubicle share envy 2)Loss of Google’s humility – the founders have tried to set a tone that is the mission not the money that matters most 3) employee defections. This is fun for outsiders to chew on but common sense says that none of this matters to company performance. Employees who are too rich to work will leave and be replaced by others who are probably more qualified. Regarding envy, everyone has considered Brin, Schmidt, Page and company to be billionaires well before the end of the lock-up period. If anything, the fact that the leadership is largely intact should tell people that oddly enough the mission is more important than the money.
Read – Google riches outed on the Web (News.com)
View – Google Insider Transactions (Yahoo Finance)

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