31–40 of 407 posts
Earlier quoted context omitted.
It's about voluntary contracts, too.
Agreements between parties of vastly unequal power and alternatives are not voluntary.
What you're trying to say is there's limited alternatives. (The most obvious alternative is to not take the job)
Quant firms at least are one of the few places where noncompetes can make sense. It's an extremely IP sensitive industry with stupendously high pay where the employee is going to someone probably competing very directly with you, for the same/similar opportunities. Actual code + NDAs banning literal reimplementations of stuff aren't that valuable, the knowledge and ideas will stay in the head of the employees. The tw…
Why does it make sense. Pay employees for their work and they’ll stick around.
Welcome to Crony Capitalism (which should not be confused with traditional capitalism).
Earlier quoted context omitted.
Agreements between parties of vastly unequal power and alternatives are not voluntary.
If they aren't voluntarily, they wouldn't be enforceable in court. What you're trying to say is there's limited alternatives. (The most obvious alternative is to not take the job)
After noncompetes, they should go after non-solicitation. Entire teams that work well together should be able to defect from shitty employers. It kind of happens anyway but on the quiet, inefficiently - I'd love to see a job website where you can list an entire team.
Non-solicits also include not soliciting customers. Which is particularly relevant at consultancies where the product is a service. If you join a consultancy group, and 2 months later quit with the client roster... is it really OK to poach all their clients to start your own consultancy? All of these contracts are time limited, FWIW. E.g. non-solicitation doesn't mean you can never work your your colleagues again. It…
Yes. It's called free market competition and it's great for the society and economy. NYC bankers should be first in line to understand that.
After noncompetes, they should go after non-solicitation. Entire teams that work well together should be able to defect from shitty employers. It kind of happens anyway but on the quiet, inefficiently - I'd love to see a job website where you can list an entire team.
Non-solicits also include not soliciting customers. Which is particularly relevant at consultancies where the product is a service. If you join a consultancy group, and 2 months later quit with the client roster... is it really OK to poach all their clients to start your own consultancy? All of these contracts are time limited, FWIW. E.g. non-solicitation doesn't mean you can never work your your colleagues again. It…
> Wall Street isn't happy that employees will have more freedom in their choice of employer "In other news, water continues to be wet."
Wall street should be half happy half sad. It is a wall street company poaching off another wall street company.
Quant firms at least are one of the few places where noncompetes can make sense. It's an extremely IP sensitive industry with stupendously high pay where the employee is going to someone probably competing very directly with you, for the same/similar opportunities. Actual code + NDAs banning literal reimplementations of stuff aren't that valuable, the knowledge and ideas will stay in the head of the employees. The tw…
Quant firms at least are one of the few places where noncompetes can make sense. It's an extremely IP sensitive industry with stupendously high pay where the employee is going to someone probably competing very directly with you, for the same/similar opportunities. Actual code + NDAs banning literal reimplementations of stuff aren't that valuable, the knowledge and ideas will stay in the head of the employees. The tw…
Quant firms at least are one of the few places where noncompetes can make sense. It's an extremely IP sensitive industry with stupendously high pay where the employee is going to someone probably competing very directly with you, for the same/similar opportunities. Actual code + NDAs banning literal reimplementations of stuff aren't that valuable, the knowledge and ideas will stay in the head of the employees. The tw…
So the solution is that employees should only be able to work for one employer in their career? I wouldn't disagree with this argument if the noncompete came with a payout in the tens of millions of dollars.
Earlier quoted context omitted.
If they aren't voluntarily, they wouldn't be enforceable in court. What you're trying to say is there's limited alternatives. (The most obvious alternative is to not take the job)
No. What I'm saying is "take a job with a non-compete or starve" is not a situation in which a worker can make a voluntary choice, "enforceable in court" be damned. Not to mention, such agreements are often not stated up front as part of the job description.
Pretending like the situation is that extreme isn’t helping anyone.