From what I understand, Chamath is okay with cashing out by selling your stock, but what the AirBnB founders are doing is just paying themselves a dividend of $20M (essentially just paying themselves a lump sum out of their funding round and not affecting any of their stock). Please correct me if I'm wrong.
This is my understanding as well. Chamath says that it's fine if all employees have access to this ability to cash out shares, but it sounds like AirBnB is essentially withdrawing money directly from the company, with no opportunity from employees to participate. He says it's basically a cash-grab that only the founders are participating in. I have a hard time disagreeing with him.
Did any founders of great companies ever do something like this? From my recollection, I don't believe Bezos, Jobs, Gates, etc ever did anything like this.
So, I assume you'd agree also that the VCs shouldn't be able to take a dollar out of a deal until employee common stock is liquid? And that they shouldn't be able to take a dollar in management fees until their capital has created a pro-rata amount of liquidity for the employee common stock of one of their investments?
(author here) I think this should also be possible with MySQL's stored functions, but one huge benefit to PostgreSQL is the schema/tablespace feature, since it means all our logical shards all live inside one database (you could do something similar with MySQL, but it would mean multiple databases or prefixing table names with the shard ID).
PostgreSQL schemas are very similar to MySQL databases in functionality. In fact, in MySQL you can use SCHEMA in all places you can use the term database, ie. CREATE SCHEMA foo; instead of CREATE DATABASE foo;
