Today I learned: Kunal Shah only draws a 15K salary 👏🏻
Talking product sense with Ridhi
9 min AI interview5 questions
He hasn’t mentioned the secondary sale of CRED shares worth millions of dollars he has made.
“Surviving”
This is why I find him very shady. He’s obviously sold shares in secondary. He’s probably made a lot more in secondary sales than he would have from salaries.
Also as he would be a related party. He has to disclose his salary in the financial statements. So this is completely self serving (nothing wrong with that) but portraying himself as a man of the people who cares a lot about burn.
Mark Zuckerberg also draws a salary of $1.
But meta is public he could sell his shares anytime at least will get some money but selling a private company shares you need a buyer?
You get to dilute your equity during each funding round.
Mostly founders or other members of upper management tend to take huge dividend payouts and very low salaries.. Not sure what the rules in India are like, but in the US, dividends are taxed at a much lesser rate than salaries.
That's why Zucky, Steve Schwazman of Blackstone etc all take dividends over salary.
And he would 100% be reimbursing all his expenses on company card 😜
Not true
Well if the majority of my expenses are handled on the company’s tab and I made a huge corpus on my stock sales, I could live of 15k per month fairly easily too! Stop being mesmerising by the half baked info these CEOs blurt out.
That's admirable. But don't idolize this wannabe Elon muskmelon.
Guys you have to understand, salaries are linear but equity can be exponential. They've raised 9 rounds of funding and is saving a lot on taxes by doing this.
He's so overrated. This salary is just signaling, he's made buttloads of money selling a declining product and selling secondary in cred
Does it look like he needs the money?
Haha If I sold my previous company for $400 million I’d also take ₹1 salary so as to avoid paying income taxes. Tax on fat salary = 30%. Tax on capital gains through sale of secondaries = 15%.
Hmm I wonder what someone would choose.