Many processes in Google were like this, probably the largest other one being the hiring process. (Many Googlers hated the hiring process since they felt it said no to people who would 100% have been great hires...
"It's complicated"
Having been in Amazon, Google, MS, the Google process is (was!) a clear outlier, which was totally culturally aligned with how everything else in the company worked.
1) Designed to fail closed
2) Detail over big picture
3) Written over relationship
Many processes in Google were like this, probably the largest other one being the hiring process. (Many Googlers hated the hiring process since they felt it said no to people who would 100% have been great hires...
But the promotion process is (was) the same way - if the committee couldn't convince itself the case was watertight, it wouldn't promote.
There was a very strong shared sense of what each level meant.
For example, minorities often struggled in this system (as elsewhere) for all obvious reasons. I was peripherally aware of a case where a minority achieved a fantastic business outcome, but did it ...
Great! Except the cttee was split since this was seen as relationship management, not tech execution.
Funnily enough, those things had a habit of happening to women, and not to men...
Particularly since they generally came with more money and respect, though not quite as much.
There were two main mechanisms for feedback: in the 'determination' phase, the cttee could ask for clarification. In the 'appeal' phase, the manager could supply new evidence.
*supplies huge info dump*
Overall the process was very much respected, in that there was a genuine perception title inflation was kept to a minimum and false positives were very low, but the sheer COST of the thing was spectacular.
(Poor cttee members, who were forced to read these huge documents, often without any expertise in the business area in question.)
The system as a whole rewarded supplying mind-numbing amounts of detail, and hyper-focused on the stated attributes of each level. Yet often the detail actually hindered understanding whether or not G was benefitting.
Normal Google culture wouldn't have done it, and there were complaints.
This works well for (say) software engineers and SREs up to (say) Senior, or thereabouts.
In particular, higher-level promotions, because of the "have to find someone of level X+1 to comment" requirement, meant a radically shrinking pool to fish from for support.
Others use that to frame things as they think the other wants to see it. But it doesn't have to spin.
It needed folks who could manage relationships just as much as written records.
Folks who felt supported in taking risks in a process designed to say no.
Perhaps in the future, someone will design the perfect process; this clearly ain't it, but is anything else?
THREAD ENDS (thankfully)
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Decoded his way of analysis/logics for everyone to easily understand.
Have covered:
1. Analysis of volatility, how to foresee/signs.
2. Workbook
3. When to sell options
4. Diff category of days
5. How movement of option prices tell us what will happen
1. Keeps following volatility super closely.
Makes 7-8 different strategies to give him a sense of what's going on.
Whichever gives highest profit he trades in.
I am quite different from your style. I follow the market's volatility very closely. I have mock positions in 7-8 different strategies which allows me to stay connected. Whichever gives best profit is usually the one i trade in.
— Sarang Sood (@SarangSood) August 13, 2019
2. Theta falls when market moves.
Falls where market is headed towards not on our original position.
Anilji most of the time these days Theta only falls when market moves. So the Theta actually falls where market has moved to, not where our position was in the first place. By shifting we can come close to capturing the Theta fall but not always.
— Sarang Sood (@SarangSood) June 24, 2019
3. If you're an options seller then sell only when volatility is dropping, there is a high probability of you making the right trade and getting profit as a result
He believes in a market operator, if market mover sells volatility Sarang Sir joins him.
This week has been great so far. The main aim is to be in the right side of the volatility, rest the market will reward.
— Sarang Sood (@SarangSood) July 3, 2019
4. Theta decay vs Fall in vega
Sell when Vega is falling rather than for theta decay. You won't be trapped and higher probability of making profit.
There is a difference between theta decay & fall in vega. Decay is certain but there is no guaranteed profit as delta moves can increase cost. Fall in vega on the other hand is backed by a powerful force that sells options and gives handsome returns. Our job is to identify them.
— Sarang Sood (@SarangSood) February 12, 2020