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The Almighty Buck

Tech Startup Buffer Publishes Every Employee's Salary, Right Up To the CEO 229

Posted by timothy from the ok-but-what-about-their-coffee-consumption? dept.
Hugh Pickens DOT Com writes "Paul Szoldra reports at Business Insider that Joel Gascoigne, CEO of social media startup Buffer, reveals his salary along with the salary of every single employee in the company, and includes the formula the company uses to get to each one. "One of the highest values we have at Buffer is transparency," says Gascoigne. "We do quite a number of things internally and externally in line with this value. Transparency breeds trust, and that's one of the key reasons for us to place such a high importance on it." Gascoigne, who has a salary of $158,800, revealed the exact formula Buffer uses to get to each employee's number: Salary = job type X seniority X experience + location (+ $10K if salary choice). Gascoigne says his open salary system is part of Buffer's "Default to Transparency" and says Buffer is willing to update the formula as the company grows but hopes that its focus on work/life balance fosters employees that are in it for the long haul. "In Silicon Valley, there's a culture of people jumping from one place to the next," says Gascoigne. "That's why we focus on culture. Doing it this way means we can grow just as fast—if not faster—than doing it the 'normal' cutthroat way. We're putting oil into the engine to make sure everything can work smoothly so we can just shoot ahead and that's what we're starting to see.""
United States

Dial 00000000 To Blow Up the World 306

Posted by timothy from the your-public-servants dept.
Charliemopps writes "For 20 years the password for the U.S. nuclear arsenal was '00000000.' Kennedy instituted a security system on all nuclear warheads to prevent them from being armed by someone unauthorized. It was called PAL, and promised to secure the entire US arsenal around the world. Unfortunately for Kennedy (and I guess, the whole world) U.S. military leadership was more concerned about delaying a launch than securing Armageddon. They technically obeyed the order but then set the password to 8 Zeros, or '00000000'."

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So you think that money is the root of all evil. Have you ever asked what is the root of money? -- Ayn Rand

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