Self-driving cars are going to be the future of travel. Companies like Tesla and Google have invested a huge amount of money in the autonomous car projects.
However, these investments are quite risky as Bloomberg reports that Google paid its self-driving car experts so much money that they decided not to do job anymore.
The Generous Compensation System:
The report says that first few workers of Google’s autonomous vehicle project had an unusual compensation system. They were given supersize payouts based on the project’s value along with standard salaries.
Moreover, some staffers were given bonuses and equity in business and these awards were set aside in a special entity. Over the years, Google applied a multiplier to the value of awards and paid some or all of it out.
As more milestones were reached, more money was handed over to the workers. In the end, they were paid so much that they lost any incentive to stay at Google.
Although, the generous system was replaced later when the project was made independent under the name Waymo in December last year. Google lost $3.5 billion on “other bets” in 2015, which includes the self-driving car business.
