Facebook's new chief operating officer has officially taken over from Sheryl Sandberg, and we're giving you a look at how much the company veteran has been paid over the years.
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1. Javier Olivan is Facebook's new $35 million man. Olivan, a Facebook veteran, was tapped earlier this summer to replace Sheryl Sandberg as COO. While his full compensation agreement has not yet been disclosed, Olivan's received big grants of stock units — here's what we know so far:
- Olivan has been with Facebook since 2007, spending almost all of that time in VP-level roles. This month, he became the company's COO.
- In what appears to be Olivan's first disclosure with the Securities and Exchange Commission as a Facebook exec, his most recent grants of restricted stock are laid out. Though all of Facebook's officers make under $1 million a year, grants of RSUs are much more generous.
- Since 2019, Olivan has received 198,271 in RSUs, according to a recent SEC filing. At Facebook's current stock price, of just under $180, that makes those awards worth more than $35 million.
Take a look at how much Meta's new COO has been paid over the years.
In other news:
2. Amazon's MGM is creating a TV show based on footage from Ring smart cameras. Debuting Sept. 26, the reality TV show — dubbed "Ring Nation" — will feature feel-good security footage, like neighbors helping neighbors, marriage proposals, and more. What to know about the upcoming series.
3. Hustle culture is making a comeback. Rising prices, layoffs in high-profile industries like tech, and economic uncertainty are breeding a resurgence of a toxic work-hard hustle culture, and it's not good for workers — and even worse for employers.
4. A CEO went viral for sharing a crying selfie on LinkedIn after laying off two employees. The marketing startup CEO said he's not sorry for posting the tearful selfie, despite being criticized, because "a lot of good" has come from it. Here's what else he said.
5. Microsoft's former VP of HR has a word of advice: HR is not your friend. After nearly eight years at Microsoft, Chris Williams now has a few tips for dealing with workplace conflicts, including remembering that HR will always prioritize the company's interests over your own. He shares where you should go instead if you're having workplace issues.
6. Facebook is testing out end-to-end encryption in Messenger. Following backlash for giving police the conversations of a girl accused of having an illegal abortion, Facebook said it is rolling out a new privacy test for Messenger. Get the full rundown here.
7. Black Girls Code's founder is suing the nonprofit after being removed as CEO. On Friday, the tech nonprofit announced Kimberly Bryant's firing, and is now facing lawsuits over her removal. What we know so far.
8. An employee who was laid off by Microsoft shares her experience. After just three months of work, the 25-year-old tech recruiter was laid off — and is scrambling for a new job to help take care of her mom. She shares what it was like to be a part of the layoffs.
Odds and ends:
9. Inside Hyundai's new electric SUV that looks like a sci-fi spaceship. The Hyundai Ioniq 5 has swift acceleration, great range, striking style, and a roomy yet minimal interior — and Insider's transportation reporter got to take it for a spin. Take a full photo tour of the Ioniq 5.
10. You can play games on your Apple Watch. We ranked the top five. The watch's own App Store is chock full of games — including Pong and a text-based adventure game — designed specifically for the tiny wrist-sized screen. See the five best Apple Watch games.
What we're watching today:
- LA Tech Week starts today.
- The CIO 100 Symposium & Awards is taking place through Aug. 17.
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Curated by Jordan Parker Erb in New York. (Feedback or tips? Email [email protected] or tweet @jordanparkererb.) Edited by Hallam Bullock (tweet @hallam_bullock) in London.