[in small text] ignoring that it's almost all stock, vested over 10 years, and pretending we can predict the price of the stock 10 years from now [in large text] Amazon is paying its CEO a salary of $212 MILLION DOLLARS!!!
Amazon investors nuke ethics overhaul and say yes to $212M CEO pay
21–30 of 259 posts
Re: Amazon investors nuke ethics overhaul and say yes to $212M CEO pay
#22[flagged]
So Jeff Bezos creating a company that employs people and grows the economy in a non zero sum way through efficiency gains shouldn’t be rewarded billions for the trouble? Why are people so concerned with the salary of the ultra rich? It doesn’t make your life objectively worse, if anything our lives are substantially better because of it, even if you don’t directly shop at Amazon.
Because they can privately buy the regulators who can then make them even richer. If you place that much influence in the hands of anyone, it will be misused for personal gain.
Re: Amazon investors nuke ethics overhaul and say yes to $212M CEO pay
#23[flagged]
So Jeff Bezos creating a company that employs people and grows the economy in a non zero sum way through efficiency gains shouldn’t be rewarded billions for the trouble? Why are people so concerned with the salary of the ultra rich? It doesn’t make your life objectively worse, if anything our lives are substantially better because of it, even if you don’t directly shop at Amazon.
because the rich use their wealth to buy instruments that sway public opinion at the expense of everyone else?
Re: Amazon investors nuke ethics overhaul and say yes to $212M CEO pay
#24When executive pay is based on stock value which depends on keeping costs down, what relief can there be for employees and subcontractors?
The purpose of a company isn't to employ people. It's to take raw inputs, including employee labor, and turn that into outputs that people want. Employee relief comes in the form of voting with their feet or if they're critical inputs into what the black box produces
Amusing. The purpose of a company was originally exactly that: to employ people and provide services and value to the community they existed in. I mean, this is still the exact reason politicians cite when providing incentives to companies - bringing jobs to their cities/states.
I'm pretty sure I don't like this new definition; it feels like it's based on greed, not value.
Re: Amazon investors nuke ethics overhaul and say yes to $212M CEO pay
#25Most of the stuff in the "ethics overhaul" is pie in the sky nonsense.
Take this bullet point: "Whether AWS does due diligence to know if cloud customers are using its services in a way that contributes to human rights violations"
What does that even mean? How could that possibly be accomplished? Who decides what constitutes a "human rights violation" in the first place?
Re: Amazon investors nuke ethics overhaul and say yes to $212M CEO pay
#26When executive pay is based on stock value which depends on keeping costs down, what relief can there be for employees and subcontractors?
The purpose of a company isn't to employ people. It's to take raw inputs, including employee labor, and turn that into outputs that people want. Employee relief comes in the form of voting with their feet or if they're critical inputs into what the black box produces
Says who? I think the idea of "purpose" of a company is very nebulous and interacts opaquely with: the "incentives" of a company, the societal purpose for having companies, the mission statement of a particular company, etc. I would say the purpose of a company is mostly to make money for the owners of the company, which is not the exact same as what you said.
Re: Amazon investors nuke ethics overhaul and say yes to $212M CEO pay
#27[flagged]
The problem is who gets to define what is "fair"?
I have similar qualms about an athlete who nets $46 million per year [1] for shooting balls into a basket. But, then, who am I to decide his "fair" pay? His club obviously thinks he's worth that…
Re: Amazon investors nuke ethics overhaul and say yes to $212M CEO pay
#28Earlier quoted context omitted.
But does he get another 200M package that vests over ten years next year?
And does he still get the 2021 package if he doesn't continue working in that role for the following nine years?
Generally that isn't how RSU vesting schedules works. You only keep what has already vested if you leave.
Re: Amazon investors nuke ethics overhaul and say yes to $212M CEO pay
#29When executive pay is based on stock value which depends on keeping costs down, what relief can there be for employees and subcontractors?
The purpose of a company isn't to employ people. It's to take raw inputs, including employee labor, and turn that into outputs that people want. Employee relief comes in the form of voting with their feet or if they're critical inputs into what the black box produces
The question is: Is that the way it has to be? Can't we build a society which is better?
Can't we build a society where "sane" employment is a valid and wanted output and not only maximising shareholder value?