It's frustrating that this thread seems to be focused so heavily on people sitting around resting and vesting. Having been inside Google (and multiple other FAANGs) this is generally untrue, and focusing on this element of the problem misses a much larger productivity problem: Most engineers at Google aren't "sitting around doing nothing", they are very busy shipping projects that do not matter. Their days are filled…
This, 100%. I think this simple observation reverberates across the entire software engineering field and at many (most?) non-FAANG companies as well.
I am not confident there is a real solution to the problem of making sure people only work on things that matter. Medium to small organizations seem to struggle with having management even understand what "good" product looks like or how to optimize for that outcome.