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Former Zoox employees sue, alleging rival offer was better than Amazon's

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Re: Former Zoox employees sue, alleging rival offer was better than Amazon's

#171

Earlier quoted context omitted.

The unions you are referring to are almost universally for blue collar workers. Most professional athletes are members of unions. Most highly paid actors are members of a union. Neither of those groups have decreased individual leverage. It's unlikely that a union for highly paid white collar workers would closely resemble a union for blue collar workers.

> Neither of those groups have decreased individual leverage. Huh? Sure they do. The MLB negotiated agreement is terrible for top performers, who are paid close to the league minimum salary for the first three years of their career, and an arbitration-determined salary for the next two. As soon as the union-negotiated common salary time runs out, top players’ pay jumps several times .

What were equivalent players paid before the unions existed? Sports unions are responsible for the massive increase in pay over the years. Those top performers would have been making much less in the absence of a union, both at the start and in the peak of their careers. I personally don't view that as decreased individual leverage.

> As soon as the union-negotiated common salary time runs out, top players’ pay jumps several times.

That 'several times' level only exists because of the unions.

Re: Former Zoox employees sue, alleging rival offer was better than Amazon's

#172
post #69

Earlier quoted context omitted.

It sounds like it might be illegal, maybe it could be reported to the FTC.

Maybe I'm missing something, but it seems a lot more SEC than FTC.

it's probably the state AG's office

Re: Former Zoox employees sue, alleging rival offer was better than Amazon's

#173
post #147

Earlier quoted context omitted.

> instrumental in ensuring that disabled employees have access to tools they need to do their job and the support they need Accommodating disabled employees is a majority view. The majority of people agree with it. As we said, unions are democratic so how did this action get implemented if it wasn’t a majority view? The problem is when you’re in a minority view. > Your employer does not see you as significantly diffe…

Do you feel you are a top earner in your field? If not, do you think you will become a top earner in your field? Do you know if you earn more than your colleagues?

What does that matter?

Re: Former Zoox employees sue, alleging rival offer was better than Amazon's

#174
post #65

Earlier quoted context omitted.

> and that someday stock worth 10s or 100s of K will be worth 100s or 1Ms This sounds a bit dodgy. I don't endorse paying someone with less than 5 years 250k/year but if you're looking at someone then the amount of options you give them should be worth at least the salary cut over the vesting period. So say you're looking at some VP potential that could get 400k per year working at Netflix or something and you're goi…

I understand the perspective, but from my view that sounds like the person wants to take zero risk. Essentially, they don't believe in the idea enough to believe that the stock is undervalued by virtue of the company being early on. We have to pay well, but as you imply if someone doesn't want to take a pretty small risk then they're not the right fit. I say small risk, because the worst case scenario is that we fail…

That is not zero risk, that is just aligning the risk with the rest of the company. Zero risk would be them working for FAANG. They would get their money and spend it however they like.

The idea that the stock is undervalued is ridiculous, if it really was it would mean you as the founder made a mistake raising money. Are you really suggesting your employees should pay more for the stock than your investors? Why?

Also realize that your employees are taking a bigger risk than the investors, as employees can only spend their salary once. There's only a 1/20 chance their stock will be worth anything, maybe even smaller. Investors invest in more than 20 companies so they have a smaller risk on their total portfolio.

Re: Former Zoox employees sue, alleging rival offer was better than Amazon's

#175

Earlier quoted context omitted.

Employee equity is so tiny, only a handful of companies have been able to retire rank-and-file employees, even after big exits. Founders, on the other hand, do quite well in exits usually.

On the big exits, the early employees are often doing very well, but obviously not those that were employee 1000 or joined a week before the announcement. Founders do better, but that's expected, they also carry much higher risk. And really, playing the lottery to win a million is still playing the lottery, even if others who spend even more on the lottery are trying to win a billion. Don't want to lose money on the…

[deleted]

Re: Former Zoox employees sue, alleging rival offer was better than Amazon's

#176
post #158

Earlier quoted context omitted.

Reddit replaced Digg, so it’s not impossible for something to replace Reddit.

Reddit was quite popular before Digg failed. It didn't spring up over night. But yeah, something might replace Reddit one day. Getting there will be extraordinarily hard .

I remember reddit as this weird place when Digg waa big. No subreddits just one listing. Didn't really switch over until the digg death.

Re: Former Zoox employees sue, alleging rival offer was better than Amazon's

#177
post #136

Earlier quoted context omitted.

Really? The majority of Americans are pro-union and a solid majority sees their decline as a bad thing.

Huh, you're right about the popularity when asked in the abstract. It isn't at the old level of popularity, but support has risen quite a bit in the last few years and is back to a majority. That being said, popularity of a topic is often higher when you talk in the abstract - only 30% of people have 'quite a lot' or a 'great deal' of confidence in unions as an institution which is what I was remembering[1]. Also in…

> Also in that data - only ~40% of people want to see union influence grow.

~40% want to see grow to ~30%, giving them ~57% share of people with an opinion.

The confidence stat is silly - I don't have a huge amount of confidence in unions either because of their obvious decline in the last few decades.

Don't really see how you can see the [1] poll and not think that there is clearly a fair bit of support for unions. [2] seems completely irrelevant to popular opinion, which is what we were discussing.

Re: Former Zoox employees sue, alleging rival offer was better than Amazon's

#178

Earlier quoted context omitted.

Reddit has an established dominant position on google search, in culture, etc, would be very hard to start from scratch.

Reddit replaced Digg, so it’s not impossible for something to replace Reddit.

It's certainly possible, HN here is a niche reddit clone that doesn't have a subreddit equivalent I've found. Slashdot would be the closest to HN ...

Re: Former Zoox employees sue, alleging rival offer was better than Amazon's

#179
post #128

Earlier quoted context omitted.

Then your union is bad and you should work to improve it. No wonder if US unions always end up so bad if apparently nobody is willing to fix things and let pancilpushers do it.

I'm in europe, unions are mandatory everywhere, some are good, some are not, average just do what the company wants them to, usually the 2-3% raise every year. Unions don't really work for software, high demand, low supply of people, here you can negotiate better then without one, and if you are not happy, next job.

They aren't mandatory everywhere, atleast in germany.

You can join the union or not. If you don't join you can still take advantage of the union negotiated rates or not if you wish. If you think you can negotiate better than the union you're still free to do so.

Re: Former Zoox employees sue, alleging rival offer was better than Amazon's

#180
post #146
post #43

Earlier quoted context omitted.

It's my understanding that early exercise is mainly only useful for tax purposes. You still won't be a shareholder until at least 1 share vests, which for a new employee, likely won't be for a year. Is that incorrect?

Yes, you are right about that. This situation is slightly better with AMT bracket moving up with Trump tax changes. But the basics still apply. I corrected by saying "vesting rules still apply". But the tax consequence (AMT or otherwise) will discourage one to exercise as the estimated stock price becomes bigger and bigger as the company grows. If you do month 1: Strike price = $1. Pre-exercise, file 83-b with tax. P…

It does depend on the cash you have on hand, though. If you can afford to pay that AMT, you'll get most of it back in credits over the following years. But I suspect many people wouldn't be able to cover that tax bill without selling those shares that they can't sell.
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