Apple chief executive Tim Cook gets $750m payout • Hacker News Board

Re: Apple chief executive Tim Cook gets $750m payout

#131

Post by Andrew_nenakhov » Fri, Aug 27, 2021, 11:52 AM UTC

akie wrote: post #69

spottybanana wrote: post #58

Earlier quoted context omitted.

> My question is: how is Tim so productive that he does roughly 160,000 people’s work, or 1/8th of Foxconn’s total workforce? [2] /s Nobody has been making these productivity claims to begin with, but leftists commonly use productivity vs salary to ridicule CEO compensation. CEOs are paid for numerous reasons, for example board wants to trust the person with billions worth of assets which makes it sensible to pay cer…

You are justifying someone being paid $750m. No one needs that much money. No one. Why are you defending this? It's obscene. Really reminds me of this https://i.kym-cdn.com/photos/images/original/002/147/150/e2c...

When will people be done with these communism ideas? Go to Cuba or Venezuela to experience the equality by yourself, like I did: I was born in the USSR, and though I was young when it finally dissolved, I've had enough of this commie shit.

Re: Apple chief executive Tim Cook gets $750m payout

#132

Post by MikeLumos » Fri, Aug 27, 2021, 11:52 AM UTC

beckman466 wrote: post #46

So according to this 2018 article by The Verge [1], Foxconn workers producing iGadgets in China earn on average $390.16 per month. Times that by twelve and we find that workers earn $4,681.92 per year on average. If we divide Tim's $750,000,000 bonus/payout this year by that $4,681.92 yearly Foxconn salary, we get 160,190 My question is: how is Tim so productive that he does roughly 160,000 people’s work, or 1/8th of…

How many of those 160,000 people would be able to successfully run Apple?

Would all 160,000 of them put together be able to do a better job than Tim did?

Re: Apple chief executive Tim Cook gets $750m payout

#133

Post by ericmay » Fri, Aug 27, 2021, 11:52 AM UTC

beckman466 wrote: post #46

So according to this 2018 article by The Verge [1], Foxconn workers producing iGadgets in China earn on average $390.16 per month. Times that by twelve and we find that workers earn $4,681.92 per year on average. If we divide Tim's $750,000,000 bonus/payout this year by that $4,681.92 yearly Foxconn salary, we get 160,190 My question is: how is Tim so productive that he does roughly 160,000 people’s work, or 1/8th of…

Ok now do this same exercise with your own salary.

In fact, anyone here can. Are you as a software engineer making $200,000+ delivering as much value as ~42 of these Chinese laborers at Foxconn? I doubt it.

And people pointing to Tim Cook about how it’s all unfair and everything. Dang I mean the cognitive dissonance and ego to think that you making 42x a worker is ok because the JIRA tickets you addressed add a lot to the bottom line but Tim Cook just makes too much?

Personally I don’t really care. Just find it interesting to see how people justify themselves.

Re: Apple chief executive Tim Cook gets $750m payout

#134

Post by diordiderot » Fri, Aug 27, 2021, 11:53 AM UTC

Andrew_nenakhov wrote: post #112

UncleMeat wrote: post #81

Earlier quoted context omitted.

Because it should be about productivity. People are highlighting a moral failing of society.

I'm from former USSR and I can hardly stand this commie foolishness. Go to some socialist country like Cuba, Venezuela that have eliminated the inequality (like the USSR did before), then talk about 'moral failings of the society'.

Imagine a world where we didn't have to choose exclusively between dictatorial communism and unfettered capitalism.

So sad that any other system is completely impossible

Re: Apple chief executive Tim Cook gets $750m payout

#135

Post by Grustaf » Fri, Aug 27, 2021, 11:53 AM UTC

SamoyedFurFluff wrote: post #111

Grustaf wrote: post #92

Earlier quoted context omitted.

No matter how you look at it, a CEO that earns less than 0.1% of the shareholder value created under his watch can’t reasonably be called overpaid.

“No matter how you look at it”? I question this because I personally am fairly persuaded that, if the CEO is not the only employee at the company, but the CEO is stated to earn “shareholder value under his watch” and then a portion being 0.1%, but another employee, say a manager or a director who also likely “created shareholder value” but earned 0.0000000001% or some other ridiculous fraction I would indeed question…

Just compare with other tech companies. I haven’t checked but I don’t think 0.1% is high, my guess is that it’s very very low, but I could be wrong.

Re: Apple chief executive Tim Cook gets $750m payout

#136

Post by tandem5000 » Fri, Aug 27, 2021, 11:53 AM UTC

rglullis wrote: post #59

beckman466 wrote: post #46

So according to this 2018 article by The Verge [1], Foxconn workers producing iGadgets in China earn on average $390.16 per month. Times that by twelve and we find that workers earn $4,681.92 per year on average. If we divide Tim's $750,000,000 bonus/payout this year by that $4,681.92 yearly Foxconn salary, we get 160,190 My question is: how is Tim so productive that he does roughly 160,000 people’s work, or 1/8th of…

When will we learn to stop making these silly calculations about "productivity" and understand that people are paid not by the value of their work, but by their scarcity? Any factory in China can replace most of their 160k employees overnight if they wanted to. How many Tim Cook's do you have lying around?

Power centralization is an inevitable outcome of improved techniques. Centralized control imperfectly selects for highly specific skills that only few possess. One can attempt to regulate inequality and inform opinion to some extent, but this will become harder as we go forward due to their improved techniques enabling manipulation.

Re: Apple chief executive Tim Cook gets $750m payout

#137

Post by beaunative » Fri, Aug 27, 2021, 11:53 AM UTC

So many sour comments. When Tim Cook took the place of the legendary you know who, every reviewers is worried about Apple's future, and Tim's not doing a so bad job after all. Most of his investments paid off, and Apple's performance has remained stable and has grown.

Tim deserves credit for running such an successful operation. Do you really think those running-up phone makers aren't looking for someone like Tim? The competition in the phone market is real.

Although we could also argue Tim failed in a way with the rise of Huawei and Xiaomi where we had to block the competitors via 'national security' concerns.

Re: Apple chief executive Tim Cook gets $750m payout

#138

Post by Thaxll » Fri, Aug 27, 2021, 11:53 AM UTC

rglullis wrote: post #59

beckman466 wrote: post #46

So according to this 2018 article by The Verge [1], Foxconn workers producing iGadgets in China earn on average $390.16 per month. Times that by twelve and we find that workers earn $4,681.92 per year on average. If we divide Tim's $750,000,000 bonus/payout this year by that $4,681.92 yearly Foxconn salary, we get 160,190 My question is: how is Tim so productive that he does roughly 160,000 people’s work, or 1/8th of…

When will we learn to stop making these silly calculations about "productivity" and understand that people are paid not by the value of their work, but by their scarcity? Any factory in China can replace most of their 160k employees overnight if they wanted to. How many Tim Cook's do you have lying around?

More than one out of 160k. CEO are like president they don't do much, you remove Cook and replace it by another high level exec, probably nothing will change for Apple.

All the major tech compagnies have increased their value over the last 10 years, so it's def not because of their incredible CEO.

Re: Apple chief executive Tim Cook gets $750m payout

#139

Post by [deleted] » Fri, Aug 27, 2021, 11:53 AM UTC

jstx1 wrote: post #47

Good for him. Pretty cool to see especially given that paying him these shares was agreed 10 years ago and Apple stock has crushed it since then. It's kind of weird to see some other comments attacking rich people just because they're rich, or completely misunderstanding the role of a CEO.

[deleted]

Re: Apple chief executive Tim Cook gets $750m payout

#140

Post by webinvest » Fri, Aug 27, 2021, 11:54 AM UTC

eliaspro wrote: post #95

vmurthy wrote: post #38

From the article : "In 2015, Mr Cook said he would give away his entire fortune before he dies, and is known to have donated tens of millions of dollars to charity". Success during one's life , paying it back to make the society a better place once gone. Take a bow, Mr Cook. What more can one ask for in a lifetime :)

And during his lifetime, this money is locked away, only accessible by him, taken out of circulation and thereby not adding any worth against ever-growing inequality, supporting economic prosperity or tax-funded investments. This is just once again a case of philanthropic green-washing of what should be actually simply heavily taxed.

That’s not how checking accounts, savings accounts, or shares of stock work. It’s only how physical dollars in your wallet work.