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Meta is set to pay its top AI executives almost a billion each in bonuses
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Re: Meta is set to pay its top AI executives almost a billion each in bonuses
#12Earlier quoted context omitted.
> Many shy back from thinking too hard about the riduculous wealth some accumulate I disagree - the current levels of income disparity, then Meta and Zuckerberg’s general conduct along with the general sentiment make it extremely hard to say “attaboy” when reading a news like this. I might be saying this for most readers here.
There's a Board involved with deciding these things who has made the active decision that keeping those particular people in that place is worth it. Maybe the next "hot skill" is "corporate governance auditing" to start profiling the people that keep throwing passively invested funds at such small groups of people in such large amounts. Someone's making the decisions. Food for thought. Mayhaps it's time the rest of t…
No, the Meta board is beholden to shareholders and must work in their interests.
Zuckerberg is kind of rare among tech founders in that he still controls 61% of the company. Therefore the board serves him.
None of this is a secret and this setup is why Facebook is what it is.
Re: Meta is set to pay its top AI executives almost a billion each in bonuses
#13[flagged]
Just undo the damage of Reaganomics and reimplement real progressive taxation with some policy changes so it isn't so easy to sidestep taxation completely.
Of course, the billionaires are likely to fight any changes in this area so hard and so long that they will eventually cause a situation in which whatever solution naturally arises as the masses get increasingly desperate ends up being much worse for the billionaires than fair progressive taxation.
Re: Meta is set to pay its top AI executives almost a billion each in bonuses
#14[flagged]
Just undo the damage of Reaganomics and reimplement real progressive taxation with some policy changes so it isn't so easy to sidestep taxation completely. Of course, the billionaires are likely to fight any changes in this area so hard and so long that they will eventually cause a situation in which whatever solution naturally arises as the masses get increasingly desperate ends up being much worse for the billionai…
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Re: Meta is set to pay its top AI executives almost a billion each in bonuses
#15Is it just me or has money like this lost it's appeal and value? A billion dollars used to be unthinkable, now it's just some number. Companies valued at X doesn't even raise an eyebrow for me. It's like were playing with Monopoly money.
Re: Meta is set to pay its top AI executives almost a billion each in bonuses
#16[flagged]
This point would be more believable if rates of poverty and numbers of ultra wealthy weren't inversely correlated, but they are.
It's almost impossible to be in poverty in the United States unless you're willfully trying to do so. It's certainly impossible to starve. There are free food programs in every city.
Comments like these are usually driven from ideological places or jealousy, rather than a factual linking of billionaires to poverty. Any given US billionaire is likely providing over 1,000,000 direct and indirect jobs for starters.
Look at evil Jeff Bezos, who created a platform in which basic necessities are sold for margins that are frequently 0%. Previously 'local business' middlemen would charge 50% margins to impoverished locals. Undoubtedly Amazon has lowered the prices of goods. That's merely one example.
Re: Meta is set to pay its top AI executives almost a billion each in bonuses
#17I can’t imagine receiving that amount of money and not turning around and giving almost all of it to my local community. Hell I could keep 50 or 60 million and live extremely wealthy for the rest of my life and never work again.
Re: Meta is set to pay its top AI executives almost a billion each in bonuses
#18Is it just me or has money like this lost it's appeal and value? A billion dollars used to be unthinkable, now it's just some number. Companies valued at X doesn't even raise an eyebrow for me. It's like were playing with Monopoly money.
It’s because they’re playing with monopoly money. If you leverage all the money on itself repeatedly, you can make the numbers look insane. Then, you hand pieces of the leveraged money (stock options) to a bunch of executives who will be watched very closely. You don’t sell stock that’s going to go up in value, so they have to be very careful about when and how much they sell. If they sell too much, then the facade can break, and the leverage evaporates.
To be clear, there is real, underlying value & revenue. But there’s a lot of froth right now
Re: Meta is set to pay its top AI executives almost a billion each in bonuses
#19I feel like we need a society where the amount of capital you get to keep is inversely proportional to how much you give back to society, on a percentage level. Have $100 billion dollars? Great. The more you give back in charity and community, the more you get to keep. Care more about "number go brrr" and less about your fellow man? We tax all kinds of personally harmful behavior like drinking and smoking. We should also tax anti-social behavior similarly. Someone like Musk with multiple hundreds of billions of dollars in capital should lose 75% of it unless you give back at least 25 or 30% of it, minimum. I'm not qualified to decide the exact percentage points. But we have to do something to keep the rich from vacuuming up almost every penny that exists.
Relevant for perception, possibly the greatest such illustration: https://www.youtube.com/watch?v=8YUWDrLazCg
Daily reminder that to this day, John Rockefeller is considered one of the wealthiest humans in history, despite the fact that today's billionaires dwarf his raw numbers.
Re: Meta is set to pay its top AI executives almost a billion each in bonuses
#20Earlier quoted context omitted.
Just undo the damage of Reaganomics and reimplement real progressive taxation with some policy changes so it isn't so easy to sidestep taxation completely. Of course, the billionaires are likely to fight any changes in this area so hard and so long that they will eventually cause a situation in which whatever solution naturally arises as the masses get increasingly desperate ends up being much worse for the billionai…
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