Marissa Mayer on scaling Google and the internal black market CEO Eric Schmidt created for new hires

https://twitter.com/StartupArchive_/status/1747232727894552737
CULTURE
Issue #380
21 Jan 2024
Interesting snippet from a Marissa Meyer (remember her?) interview in 2015. Apparently former CEO Eric Schmidt recognised that ‘blitzscaling’ would have a negative impact on culture as VP’s would simply chase headcount growth, so he created an internal currency to artificially introduce scarcity and increase competition between hiring managers for the hire that needed to be made, leading to a blackmarket trade on the “Larry & Sergey” bills now necessary to make a hire. Fine understanding from Schmidt that economic infrastructure determines the cultural superstructure. Have a read.