12-21-2022, 12:46 PM
TIL The Algorand Foundation pays its staff of 73 employees ~$30 million dollars per
<!-- SC_OFF --><div class="md"><p>Just learned that Algorand is spending ~$30 million USD a year on staff salaries. With 73 employees, that comes out to an average $416,000 per person. </p> <p>Of course, the average employee isn't making anywhere near that. I suspect the majority of it goes to the executives and senior staff. </p> <p>So I have to ask, do you think the foundation is enriching themselves at retail investor's expense? </p> <p>​</p> <p>Full Disclosure, I sold all my Algo in January of this year. I was originally thinking I might get back into the project, but after everything I've learned about the Algorand foundation over the course of this year, and it how it relates to the tokenomics, I doubt I ever will. It seems terribly flawed. </p> <p>The foundation, i.e. the (centralized) human element of Algorand has tainted this project. Despite having some of the best tech of any crypto, how can anyone take it seriously again? </p> <p>​</p> <p>Source: Transparency Report</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Vaginosis-Psychosis"> /u/Vaginosis-Psychosis </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zr7tak/til_the_algorand_foundation_pays_its_staff_of_73/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zr7tak/til_the_algorand_foundation_pays_its_staff_of_73/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>Just learned that Algorand is spending ~$30 million USD a year on staff salaries. With 73 employees, that comes out to an average $416,000 per person. </p> <p>Of course, the average employee isn't making anywhere near that. I suspect the majority of it goes to the executives and senior staff. </p> <p>So I have to ask, do you think the foundation is enriching themselves at retail investor's expense? </p> <p>​</p> <p>Full Disclosure, I sold all my Algo in January of this year. I was originally thinking I might get back into the project, but after everything I've learned about the Algorand foundation over the course of this year, and it how it relates to the tokenomics, I doubt I ever will. It seems terribly flawed. </p> <p>The foundation, i.e. the (centralized) human element of Algorand has tainted this project. Despite having some of the best tech of any crypto, how can anyone take it seriously again? </p> <p>​</p> <p>Source: Transparency Report</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Vaginosis-Psychosis"> /u/Vaginosis-Psychosis </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zr7tak/til_the_algorand_foundation_pays_its_staff_of_73/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zr7tak/til_the_algorand_foundation_pays_its_staff_of_73/">[comments]</a></span>