SavageResponse:


Don't mind the idiots, that's how one raised capital from investors then started paying himself salary of $15,000 per months from money that was supposed to be used as working capital for the new business

Na Favour Ori na. He wwae even defending the rubbish

IamAtikulate:

Opay is an Indian company

Opay is Chinese

Stephench:


15k a month for CEO is not too much. Normally, some tech companies pay junior developers half of that amount

Junior developers? In which location? Ghana or San-Francisco? You are comparing apples and oranges. The CEO pay of any startup should be tied to performance and he should earn what a regular CEO of a medium company in his country is earning in the beginning then the rest should be tied to stock as the company grows.

The name is called "DASH"
so what do you expect.
Names have effect oo

nlfpmod:


https://techcabal.com/2023/10/06/ghanaian-fintech-dash-shuts-down-after-raising-86-1-milion/?utm_source=&utm_medium=twitter

YoshihideSuga:


Nowhere in the world do you pay yourself such humongous amount of salary per month for a company that is yet to break even, let alone generate profits.

1. The post doesn't say it's salary. 2. This is a poor man's salary compared to the silicon valley CEO salaries it's modled after.
Go invent something

How much does a Chief Executive Officer make in San Jose, CA? The average Chief Executive Officer salary in San Jose, CA is $1,042,074 as of September 25, 2023, but the range typically falls between $787,848 and $1,342,402.

https://www.google.com/search?q=average+silicon+valley+ceo+salary&sca_esv=571613202&sxsrf=AM9HkKnHQz9CHJ_ZRR_33iE4knugWE2_xg%3A1696711580323&source=hp&ei=nMMhZdGVENr0kPIP1YGh2A8&iflsig=AO6bgOgAAAAAZSHRrAK9ffytYGyvn9HIDVWio4QjCEjT&oq=Average+silicon+valley+CEO+&gs_lp=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&sclient=gws-wiz

This means the average CEO in silicon valley makes $65,654 -$111,866 a month if you don't want to do the math.

Ofodirinwa:


1. The post doesn't say it's salary. 2. This is a poor man's salary compared to the silicon valley CEO salaries it's modled after.
Go invent something

This means the average CEO in silicon valley makes $65,654 -$111,866 a month if you don't want to do the math.

Apples to oranges. His company isn't generating enough revenues or has broken even to warrant such a salary. So, why compare him to bigwigs in Silicon Valley whose firms are either listed on the stock market or generate billions of dollars as revenues?

Shey the company don fold up, Mr Inventor? Let's see where he would earn $600K again.

Buliwyf:


Junior developers? In which location? Ghana or San-Francisco? You are comparing apples and oranges. The CEO pay of any startup should be tied to performance and he should earn what a regular CEO of a medium company in his country is earning in the beginning then the rest should be tied to stock as the company grows.

Mr Ofodirinwa,

What do you say? Abi San Diego don dey Ghana?

shine12:
Firstly, the closing up of these startups doesn't bode well for the Sub-Saharan African startup scene. We also need to refrain from perpetuating negative stereotypes about the black/African continent as a whole. Fraud is something that exists worldwide; there are several US biotech companies on the NYSE and Nasdaq with no functional technology, yet they take millions of dollars from investors and a lot of these companies end up packing up.

A notable example is Elizabeth Holmes, a woman whose biotech company was valued at $10 billion, but it turned out she had misled investors, and the technology she claimed to have didn't work. She was recently sentenced to 11 years in jail. It's important to note that she was a white American woman who attended Stanford.

We should refrain from self-deprecating narratives about Africa and black people as a whole. Fraud occurs globally, and African, American, and European fraud are equally detrimental.

While you're right, the difference is that the major investors into African startups aren't Africans, but foreigners aka oyibos. If they see that Africans cannot utilise investors' funds appropriately, they will shun the continent's startups. Elizabeth Holmes can afford to do so because na woman she be and most importantly, she's in her dominant environment and such, investors will continue to pour money into white women led startups. Since we don't control the piper who dictate the tune, we should be mindful how we manage the funds invested by the piper.

You can only have greater say if the major investors are your people, not foreigners.

Reference:


In my opinion the model for Africa's development, the model that developed the West in the 19th and 20th century and the East over the past half century is the cheap and efficient producttion of tangible goods, period.

Making things with our hands is the way out of poverty. It is dignifying, it is mentally stimulating and it regulates and moderates the greed and avarice pervading African societies.

It is the only way to create a viable and sustainable middle class and bring mass populations out of poverty.

IT will remain a vehicle, an aid, a means, but never the destination or the end chapter in the story of development.

People often cite India's tech sector as an example of a country leveraging heavily on bits and bytes, but they fail to see the giant strides in manufacturing, agriculture, petroleum and other sectors where India is comfortably in the top5 productive nations.

Exactly the same in my mind. Actual production and manufacturing are the tools to pull more people out of poverty into the middle class, not some elitist tech. How many did the firm employ compared to a typical factory processing cocoa beans for export?

Kingpele:
Wow in Africa we think self first before anything else...this is while we are here...every good project where greed and selfishness are not removed will surely fail....when will Africans begin to think more of public good more than self service...we most change our mental attitude towards our own country and continent if we ever desire true progress and development

tomorrow them go blame west for all d evil

LikeAking:
Sad!

Investors don dash the CEO dia money..

Lesson!

Being the founder does not make him the biggest shareholder, his equity might be 10% and below

Stephench:


You sound like a very poor man to think that 15k is such a huge amount and enough to ground a company that's raised millions of dollars. 15k isn't so much money for a CEO to receive if he so wishes. 50k on the other hand is on the high side.

I know a lot about Y combinator and about start ups. I'm a software engineer that's studied product and project management and also working on start up products, there's nothing you can tell me about start ups as I have experience in the tech world

What is the shareholders fund, invested capital, EBIT margin, return on capital employed of a startup whose CEO earns 200k dollar per annum


For your information most of this start up might not be profitable for the next 10 years.


If the CEO is sure of the sustainability of the business he will opt for a salary commensurate to the size and profitability of the business and then opt for stock option

YoshihideSuga:


Mr Ofodirinwa,

What do you say? Abi San Diego don dey Ghana?

Outdated mentality. They all work online. Their product is available to customers all over the world. He's in Ghana but he's not selling pure water and beans. Tech is tech in Ghana and the US. And, again, the amount cited is not salary.

Do you think a normal person in San Diego makes $100,000 a month?

Ofodirinwa:


Outdated mentality. They all work online. Their product is available to customers all over the world. He's in Ghana but he's not selling pure water and beans. Tech is tech in Ghana and the US. And, again, the amount cited is not salary.

Do you think a normal person in San Diego makes $100,000 a month?

As reported by WeeTracker, Boampong was earning $50,000 per month and allegedly diverted at least $8 million

Can you tell me which CEO of a tech startup that hasn't generated substantial revenues or broken even earns $50K monthly? Ezra of Paystack earns $3,500 per month, but your darling DASH earns more than 10X the amount of a cofounder of Nigeria's most successful startup exits.

YoshihideSuga:




Can you tell me which CEO of a tech startup that hasn't generated substantial revenues or broken even earns $50K monthly? Ezra of Paystack earns $3,500 per month, but your darling DASH earns more than 10X the amount of a cofounder of Nigeria's most successful startup exits.

Ezra sold his company bro lol. You're going to embarass yourself talking about what you don't know

Ofodirinwa:


Ezra sold his company bro lol. You're going to embarass yourself talking about what you don't know

Check his twitter, he stated clearly that he earned $3,500 a month. This has nothing to do with the sale of his company. Meanwhile, which CEO of a tech startup that hasn't generated substantial revenues or broken even earned $50K monthly? Where? Which CEO?

Since you know it all, why not teach people who don't know. Mention one CEO who does. It's so simple. Every notable tech personality on TwitterNG lampooned such outrageous salary for a yet to be profitable or broken even company, but one random Mr Ofodirinwa says I'm embarrassing myself for saying what I don't know. Since you're so proud of yourself and knowledge, mention the CEO who does.

Shey the firm has gone into bankruptcy? Let's where the $50K will come from, Mr Embarass-Yourself-Talking-About What-You-Don't-Know

YoshihideSuga:


Check his twitter, he stated clearly that he earned $3,500 a month. This has nothing to do with the sale of his company. Meanwhile, which CEO of a tech startup that hasn't generated substantial revenues or broken even earned $50K monthly? Where? Which CEO?

Since you know it all, why not teach people who don't know. Mention one CEO who does. It's so simple. Every notable tech personality on TwitterNG lampooned such outrageous salary for a yet to be profitable or broken even company, but one random Mr Ofodirinwa says I'm embarrassing myself for saying what I don't know. Since you're so proud of yourself and knowledge, mention the CEO who does.

Shey the firm has gone into bankruptcy? Let's where the $50K will come from, Mr Embarass-Yourself-Talking-About What-You-Don't-Know

Uber is 14 years old. Turned it's first profit this year, the CEO, the entire time, made $1 million base salary, plus $14.3 million in stock options annually. Without counting the stock options, that's $83K a month.

Barry McCarthy, CEO of Peloton is paid $1m a year plus stocks, also $83K a month, never turned a profit

Let me know if you need more.

$3500 a month from a company you've already sold and the general public thinks you still own is impressive, but he was actually paid millions for the company.

Ofodirinwa:


Uber is 14 years old. Turned it's first profit this year, the CEO, the entire time, made $1 million base salary, plus $14.3 million in stock options annually. Without counting the stock options, that's $83K a month.

Barry McCarthy, CEO of Peloton is paid $1m a year plus stocks, also $83K a month, never turned a profit

Let me know if you need more.

$3500 a month from a company you've already sold and the general public thinks you still own is impressive, but he was actually paid millions for the company.

Apples to oranges. Both CEOs were previously high performance employees at large corporations - Expedia and Spotify. So, it's appropriate to pay them so high since it's expected they'd use their experience to turn around the firm. They weren't founders, unlike the DASH $50K per month dude.

Quote a founder of a tech firm who earned so much while the firm hasn't generated SUBSTANTIAL revenues or broken even. Peloton and Uber generated substantial revenues and had a large customer base even though they're not profitable. Also, they were able to sack employees when the going became tough. However, your darling DASH crumbled itself because hey, no large number of employees to trim because no substantial revenue.

https://www.marketwatch.com/story/uber-ceos-pay-rose-to-24-million-last-year-598a1cb0

https://nypost.com/2022/10/26/peloton-lured-ceo-barry-mccarthy-with-168m-pay-package/

Hello, Just seeing this, havent really been active here. The startup is an IT company that can build, manage any project, with major focus in the IT sphere. We can also effectively collaborate with existing systems/processes and bring measurable growth. We can see a project through right from IDEATION to launching/appstore/market/users. We use a combination of different models like Agile, Scrum, Waterfall, XP to execute tasks and improve workflows. I would like to get into the nitty gritty of what we do if we can talk via email. Thanks for reaching out.

colp2015:
Can you give a brief description of your start up for business model and execution analysis?

YoshihideSuga:


Apples to oranges. Both CEOs were previously high performance employees at large corporations - Expedia and Spotify. So, it's appropriate to pay them so high since it's expected they'd use their experience to turn around the firm. They weren't founders, unlike the DASH $50K per month dude.

Quote a founder of a tech firm who earned so much while the firm hasn't generated SUBSTANTIAL revenues or broken even. Peloton and Uber generated substantial revenues and had a large customer base even though they're not profitable. Also, they were able to sack employees when the going became tough. However, your darling DASH crumbled itself because hey, no large number of employees to trim because no substantial revenue.

https://www.marketwatch.com/story/uber-ceos-pay-rose-to-24-million-last-year-598a1cb0

https://nypost.com/2022/10/26/peloton-lured-ceo-barry-mccarthy-with-168m-pay-package/

Not only Are Uber and Peloton not draw substantial revenues, they're is shanp decline, you're just typecasting them as successful for reasons you probably don't understand. Pelton's stock has declined 90% from 40 to 4 dollars since 2021. Uber is swarmed with lawsuits and its mismanagement is very publically documented. But their CEOS are paid what they are paid.

Also, again, it's only people who didn't read or cant comprehend the original article who will think the CEO was 'making' $50,000 a month

shine12:
Firstly, the closing up of these startups doesn't bode well for the Sub-Saharan African startup scene. We also need to refrain from perpetuating negative stereotypes about the black/African continent as a whole. Fraud is something that exists worldwide; there are several US biotech companies on the NYSE and Nasdaq with no functional technology, yet they take millions of dollars from investors and a lot of these companies end up packing up.

A notable example is Elizabeth Holmes, a woman whose biotech company was valued at $10 billion, but it turned out she had misled investors, and the technology she claimed to have didn't work. She was recently sentenced to 11 years in jail. It's important to note that she was a white American woman who attended Stanford.

We should refrain from self-deprecating narratives about Africa and black people as a whole. Fraud occurs globally, and African, American, and European fraud are equally detrimental.

Oga shine12 please and please shine your blessings on me please for the sake of this beautiful Sunday please sir I have been seeking for help here long ago but no one even respond to me please sir help me for the sake of God of heaven and earth 0211206511 Gtbank Yunus Hussain