alt Hacker NewsMongoDB CEO resigns to join Meta
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This is data point #2 in his executive career, it's now a trend.
https://www.crn.com/news/channel-news/2024/servicenow-presid...
A few days ago I learned Dana White (UFC's CEO) is on meta's board of directors, nothing will surprise me now.
TIL MongoDB is a publicly traded company.
I can't imagine the future is bright for MongoDB as AI makes it much less painful to move off of legacy and/or overpriced software.
I recently took my app off of Mongo Atlas because I was tired of dealing with charges that caught me off guard. I was tired of feeling like I was getting nickel and dimed over every little thing.
I ended up migrating everything to DigitalOcean's managed database for 1/3 the price. Less headache, better performance, and less panic and anger.
I'll never, ever use Mongo Atlas again.
Isn't MongoDB relatively stable? I can't think of why it would need any particular CEO, and an executive moving to a company that burns money for fun doesn't say much about their previous job. So why the huge stock drop?
For folks who don’t know, CJ was the president of product and technology at Cloudflare for 6 months and CJ left them and joined MongoDB.
Ah, I miss the days of NoSQL vs. SQL debates.
I think its Zuck's new hiring strat,
He hired cred CEO to be whatsapp CEO.
Scale CEO to be AI leader
Now Mongo ceo to lead the AI enterprise sales.
"Effective immediately" is harsh even though perfectly legal. Does this mean nobody knew and it was a "Surprise!!!"? Extremely callous if that's the case, there is got to be more to the story.
Is a CEO really worth 20% of market cap? Nuts.
Interesting choice, his prior experience doesn't seem AI related yet he's going to lead an AI strategy at Meta?
MongoDB does seem to be in a rough spot. Their pitch is an easier to get started with database, which longer term gives you problems and higher costs. And since we all have AI agents, why would you select that for any use case?
So turns out nosql is no place for "structured" role like ceo.
CEO leaves, stock market value drops ~$6.5B
One interpretation is that senior leadership (e.g. CEO) matters a lot. But it flies against the idea that CEOs are overpaid. From a quick search, it looks like his total stock comp was ~$52m which was a bargain considering his departure cost the company billions. Perhaps he would not have left if he had a higher pay, more in line with the value the market ascribes to him.
However I imagine those that are upset about CEO pay will find this unconvincing. Is there any other way to interpret this?
Anecdotally, I've seen a surprising number MongoDB employees applying to our job listings for the last 6-9 months (enough to feel like a trend).
People still use MongoDB?
As a non-joke question - I am surprised a CEO can do this. Wouldn't there be contract terms about notice period, orderly transition etc?
I've always wanted model sharding.
I was surprised Facebook Workplace lasted as long as it did. But, hey, it took Google a few tries to get GCP (anyone remember the Search Appliance?) to a solid place so I wouldn't count Meta out of being able to make an enterprise splash just yet.
I wonder if people like this actually try to get into the company, or if they just got a very attractive offer instead?
This is insane
He doesn't believe in Mongodb anymore. That is how I read it.
lol
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I mean, Mongo is to be a $600 dollar stock imho. You see, the amount logs AI creates or intermediary text storage it creates is just stunning. Nice entry for leaps. Plus, Mongo swiftly added their vector db too. It’s a obvious play.
I wonder if they’ll pair him with another acquisition like Porcupine. META has now realized how much money there is in selling a picks and shovels (as we see with Muse Spark).
I still think regular people, and markets, have not caught onto the implications of superintelligence. Its happening, and the tech oligarchs have seen it behind closed doors
>Desai led product and engineering at Cloudflare
Well, this could end meta :) Once I get the Cloudflare prompt I bail assuming the site does not what me to read their content.
Yes, the number of sites I go to is decreasing daily, but gopher, gemini and USENET is still around and seems to be slowly growing.
Facebook going to be selling Muse into your company as your AI coworker
"effective immediately" means either... he doesn't have a contract with a notice period, or he does and is willing to forfeit any benefit from it like share options, etc.
One reason might be the share price has collapsed and he has no confidence in it coming back (pretty scandalous if he's the CEO!), or Meta has offered him inducements > what he's walking away from.
Good way to burn a lot of bridges. He's never going to be hired as CEO by anybody for the rest of his career.