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Why I Retired From Apple

donmelton.com

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Re: Why I Retired From Apple

#51

Post by othermaciej »

chetanahuja wrote: post #37
olentangy wrote: post #28

Earlier quoted context omitted.

I didn't work for Don, but as an engineer in another part of the company. I too was able to retire (at age 49). It makes me sad that the stock options that made my retirement possible won't be available to the next generation of engineers because of bad tax law (Sarbanes-Oxley).

How does that follow exactly ? Aren't RSU's an option (like at Google) to reward employees with stocks (but not stock options ) ?

Typically you get a much smaller number of RSUs than options. Though there's no strike price. So RSUs are often worth more if the stock doesn't move much, but worth a lot less if there is a huge run-up.

Re: Why I Retired From Apple

#52

Post by suyash »

@donmelton thanks for the article, What are hours per week you would say you worked? How many hours did engineers in your team put from best to worst? Just curious as to how apple work culture was.

Re: Why I Retired From Apple

#54

Post by donmelton »

othermaciej wrote: post #51
chetanahuja wrote: post #37

Earlier quoted context omitted.

How does that follow exactly ? Aren't RSU's an option (like at Google) to reward employees with stocks (but not stock options ) ?

Typically you get a much smaller number of RSUs than options. Though there's no strike price. So RSUs are often worth more if the stock doesn't move much, but worth a lot less if there is a huge run-up.

Much better answer.

Re: Why I Retired From Apple

#55

Post by btilly »

larrys wrote: post #27
Evbn wrote: post #24

Earlier quoted context omitted.

Parent said to stop being so humble.

Not reflecting on Don who I don't know but I've always wondered if people who go out of their way in trying to appear to be humble are reacting to the disgust that they feel when others aren't appearing humble. Stuff like this: "I think it was a shock to my son to see how I was regarded at work. Of course, that didn’t mean he started respecting me at home but, hey, a man can dream." and this: "At my core, I’m just a…

My take on it is this.

You can only improve if you recognize your faults. People who have become exceptional, are the type that consistently improve, who therefore constantly recognize their limitations.

Thus when I see humility from people I respect, my default assumption is that this is not false modesty - I am getting a glimpse of the process that made them into people I respect.

Not always true. However it has proven true often enough that it remains my default assumption.

Re: Why I Retired From Apple

#56

Post by btilly »

othermaciej wrote: post #51
chetanahuja wrote: post #37

Earlier quoted context omitted.

How does that follow exactly ? Aren't RSU's an option (like at Google) to reward employees with stocks (but not stock options ) ?

Typically you get a much smaller number of RSUs than options. Though there's no strike price. So RSUs are often worth more if the stock doesn't move much, but worth a lot less if there is a huge run-up.

The benefit of RSUs to the company is not just that they are worth more if a stock doesn't move much, but that they retain value when a stock drops. This avoids the trap where a company has a dip in value, and suddenly all of the people you were trying to keep golden handcuffs on have nothing keeping them there. So they start leaving, which causes you real problems.

The downside is exactly what you say - the potential upside on options is massively greater than RSUs.

Re: Why I Retired From Apple

#57

Post by clobber »

teach wrote: post #31
clobber wrote: post #29

I certainly hope that working Sunday nights and traditional corporate structures where we refer to co-workers below us as "minions" is not something the new generation of engineers aspire to. This sounds like the typical toxic corporate work environment of people grabbing for "power."

I'm pretty sure his use of the word 'minions' is meant to be ironic.

Yeah well, find me one current employee who isn't afraid for their dear life to openly comment on working there without using an anonymous/throwaway account.

That demonstrates a workplace of fear.

Re: Why I Retired From Apple

#58

Post by kami8845 »

RyanZAG wrote: post #30
larrys wrote: post #27

Earlier quoted context omitted.

Not reflecting on Don who I don't know but I've always wondered if people who go out of their way in trying to appear to be humble are reacting to the disgust that they feel when others aren't appearing humble. Stuff like this: "I think it was a shock to my son to see how I was regarded at work. Of course, that didn’t mean he started respecting me at home but, hey, a man can dream." and this: "At my core, I’m just a…

Personally, I'd say just take them at their word: this is how they actually feel. Not everyone is trying to win some kind of popularity contents with every sentence they write. While he may have been trying to temper his 1st sentence, as you say, I'm going to just believe he is being genuine here and means exactly what he says. I don't think he is really going out of his way here.

It might be a learned skill.

Be humble -> People react positively -> Act more humble as a consequence.

In the end you get frequent "humbleness" injections like in his writing. Nothing wrong with that, just interesting to see.

Re: Why I Retired From Apple

#59

Post by jarek »

markahern wrote: post #21
donmelton wrote: post #13

Earlier quoted context omitted.

Some of them did. But the decision to retire is not always about the money.

I'd like to think that most people who become wealthy enough to have the option of retiring early are motivated by something other than money.

What makes you think that? I would think that those motivated primarily by money are overrepresented among early retirees, if only because people motivated primarily by something else (helping people, changing societies, becoming the best by some criterion) will focus on that goal. Getting rich is something most people have to aim at.
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