Insurtech Lemonade’s Co-Founder Accuses Amazon of Poaching Employees

By | January 18, 2018

  • January 18, 2018 at 12:14 pm
    Augustine says:
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    And I quote: ” The way they do it is by offering candidates obscene amounts of money which confuse even the most loyal employee, not to mention the damage this causes to the entire market.” I am sorry, but how arrogant do you have to be to say that “loyal employees” are “confused” by being offered more money than their current employer? Typically, when a person is offered three times what they are currently earning to do the same job, they will leave, and leave happily at that. This is the same guy that wants to “upend” the entire insurance industry (call it “disruption” or whatever you want but he has openly spoke about his intention to destroy traditional insurance) and he is whining like a child on a social media platform because he cannot compete with his competitors by offering equivalent salaries? Spare me. Sounds like the opining of a spoiled technocrat.

    • January 18, 2018 at 2:26 pm
      Anon says:
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      I could not agree more Augustine. The VC’s that funded Lemonade are going to get rich at the expense of the techs being paid crumbs of 100k to 150k per year. If the VC’s and LLC had any common sense, contracts with guarantees at termination and non-competes would be in order. Unfortunately, VC’s only look at talent as a commodity as does Amazon. While I’m not a Bezos fan by any stretch, the penny pinching start up is getting what they deserve. Having worked in a VC funded start-up they are doing one of 2 things – selling losses to investors that need them or paying people below market to achieve their end goals with those people in the latter category not reaping any of the rewards of their labor.

      No contract and no non-compete for 2 years after termination shows how arrogant or stupid Lemonade leadership and the funder’s behind it truly are.

      Good luck Lemonade. AI in selling insurance sounds like an extremely high loss ratio in your future. If you think your combined ratio will offset your loss ratio, I would like to meet the modelers that put that one together.

      • January 22, 2018 at 1:54 pm
        Mr. Solvent says:
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        You’re certainly open to adverse selection by taking underwriters out of it aren’t you?

      • January 22, 2018 at 3:04 pm
        Agent says:
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        Perhaps Lemonade should pay their remaining employees a $1,000 bonus like many others have done and give them a raise.

        • January 22, 2018 at 3:10 pm
          ADifferentGent says:
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          We were getting along so well, Agent. Please don’t get divisive on this one, just pass around some likes and save the vinegar for another article.

          • January 23, 2018 at 3:56 pm
            Agent says:
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            Different, I didn’t think I was responding to you. Are you a Lemonade employee? Go fly a kite.

  • January 18, 2018 at 12:40 pm
    Einstein says:
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    Hmmm, my lemonade is a bit sour, can you pass the sugar please?

  • January 18, 2018 at 1:18 pm
    Ed says:
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    Lemons? All I see here is sour grapes

  • January 18, 2018 at 1:47 pm
    Nick says:
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    SHAI,
    Welcome to the NFL.

    • January 22, 2018 at 12:31 pm
      Agent says:
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      NFL definition – Not for Long

  • January 19, 2018 at 9:10 am
    Wayne says:
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    Perhaps he/they should spend more time improving their products instead of philosophizing on Linkedin. From where did their company hire all of their employees? They did not create them as raw recruits but I trust hired them from other companies. Did they consider themselves as poachers? Oh, I bet not.

    • January 23, 2018 at 6:17 pm
      UW says:
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      What you just said they did isn’t poaching, so no probably not.

  • January 19, 2018 at 9:40 am
    TxLady says:
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    Lemonade’s employees should are free to change jobs at will. If that job change puts them at Amazon, so be it. If Lemonade wants to retain their talent, they need to be prepared to pay the salary required to do so. Employees are not property, they don’t belong to you, but are free to make whatever market moves best meet their financial needs.

  • January 19, 2018 at 2:03 pm
    lonestar says:
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    Well, if Lemonade is going to be a Non Profit insurer, they should not be surprised that they are unable to pay their talent to stay, if the talent is going for a higher salary at a “For Profit” entity. Maybe Lemonade needs to start looking to make money to compete.



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