Sergey Brin: "There is a social networking bubble"
From: Sergey Brin
Date: October 13, 2007 10:29 AM
Subject: Retention, Facebook, and Founder's Awards
To: Executive Management Group, Marissa Mayer
Having talked to a number of people now, I feel that we are even more at risk retention wise than I had previously imagined. Rainy weather, a few gps misalignments here and there, and a few noted departures/retirements already set the stage for employees to be unhappy.
The facebook phenomenon creates a real retention problem, I now realize, not just because of FB's direct hiring but the more insidious effect that everyone wants to start the next facebook or get rich by having a popular fb app. Whether fb itself does well or not is hard to predict but it is clear to me that there is a social networking bubble of imitations and tag alongs.
Finally, we (or basically I) have not done a good enough job of high rewards for high performance. [REDACTED]
This is just one small step but one we can do quickly and I think will refocus people's attention to how much they can accomplish within Google. Any thoughts?
[This document is from In re: High-Tech Employee Antitrust Litigation (2011).]
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