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Arm Announces Public Filing for Proposed Initial Public Offering

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Re: Arm Announces Public Filing for Proposed Initial Public Offering

#211

Post by tchaffee »

sentinalien wrote: post #124
tchaffee wrote: post #60

Earlier quoted context omitted.

Compared to the US. Dan Abramov who works for Facebook and is one of the primary engineers of the hugely popular React framework makes less than one of my junior engineers.

They're fairly competitive compared to the rest of the world. He is also working for a US company who could pay him more if they really wanted to. US salaries are high because the US has a glut of engineering jobs and is also a difficult place to immigrate to (generally requires you to have family ties or a job offer which is not easy to obtain when you might not be granted a work visa and won't realistically be able…

> They're fairly competitive compared to the rest of the world.

That's accurate. But what surprises me is how much in demand software engineers are globally and how little they get paid in most countries. It doesn't make any sense to me that Dan Abramov could more than triple his salary at Facebook just by being employed by the US branch. The value he provides to the company would in no way change.

Re: Arm Announces Public Filing for Proposed Initial Public Offering

#212

Post by tchaffee »

DaiPlusPlus wrote: post #129
Tijdreiziger wrote: post #84

Earlier quoted context omitted.

And what about long-term illness? If he fell ill for 1+ year, would his salary and healthcare be guaranteed or would he go bankrupt?

All US employers I've worked for included disability and long-term injury insurance as standard benefits, in addition to always offering the best-tier health-plans (from non-profit insurers too). Unemployment insurance is another (legally mandatory) benefit that outshines whatever I'd get in the UK because it isn't considered a public-benefit (i.e. it's not the state or Feds paying it ("welfare" as yanks call it), it…

> long-term injury insurance

It eventually runs out. The US healthcare system can eventually bankrupt you no matter how careful you are, if your health problems are serious enough.

Re: Arm Announces Public Filing for Proposed Initial Public Offering

#213

Post by tchaffee »

sgerenser wrote: post #134
Tijdreiziger wrote: post #84

Earlier quoted context omitted.

And what about long-term illness? If he fell ill for 1+ year, would his salary and healthcare be guaranteed or would he go bankrupt?

I don’t know about Facebook, but at other BigTechs we were offered very affordable short and long term disability plans. And if your income is low enough (e.g. laid off or fired), you qualify for ACA health plans with huge subsidies making it almost free.

> long term disability plans

It eventually runs out. Medical bankruptcy is pretty widespread in the US.

Re: Arm Announces Public Filing for Proposed Initial Public Offering

#214

Post by tchaffee »

jkaplowitz wrote: post #135
Tijdreiziger wrote: post #84

Earlier quoted context omitted.

And what about long-term illness? If he fell ill for 1+ year, would his salary and healthcare be guaranteed or would he go bankrupt?

Facebook very probably has a group long-term disability insurance policy which adequately its employees in that case. Google did when I worked there many years ago. Some supports might also come from Social Security Disability Insurance, Medicare, and loans or withdrawals from retirement accounts that are far better funded at Facebook US than at Facebook UK.

> long-term disability insurance policy

It eventually runs out. Medical bankruptcy is pretty widespread in the US.

Re: Arm Announces Public Filing for Proposed Initial Public Offering

#215

Post by dublinben »

azinman2 wrote: post #204
helsinkiandrew wrote: post #65

Earlier quoted context omitted.

> I wonder to what extent the overarching business culture of the UK (which I'd categorise as being generally apathetical, if not hostile, to the engineering profession) might have anything to do with it. That's nothing to do with it - the company is only listing on NASDAQ - ARM has office all over the world but will still be based and managed in the UK along with most of its employees (engineers) like when it was ow…

Are there really big capital inventors who will say “nope I don’t work on that exchange”?

Well, the fifth largest ETF in the US is the sharply named QQQ which exclusively follows the Nasdaq-100 index. Everything larger tracks a broader domestic index like the S&P 500.[0]

Listing on the LSE relegates you to "international" funds, which make up a third or less of most portfolios. These have historically lagged US fund performance, quite significantly in the last ten years.[1]

[0] https://www.etf.com/etfanalytics/etf-finder

[1] https://www.morningstar.com/stocks/revisiting-case-internati...

Re: Arm Announces Public Filing for Proposed Initial Public Offering

#216

Post by tchaffee »

commonlisp94 wrote: post #197
progbits wrote: post #63

Earlier quoted context omitted.

And when he gets sick gets free healthcare while your junior will go bankrupt. Compensation isn't comparable without comparing external costs and benefits.

> he gets sick gets free healthcare Free at the cost of a significantly larger portion of his salary in tax for his entire life.

The tax differences aren't that big, and they come with other nationalized services in addition to healthcare. Per capita healthcare costs in countries with nationalized healthcare can be 50% less than in the US. So you're getting much better value for your money when you pay taxes for that healthcare.

https://www.healthsystemtracker.org/chart-collection/health-...

Re: Arm Announces Public Filing for Proposed Initial Public Offering

#217

Post by ethbr1 »

bemusedthrow75 wrote: post #210
fidotron wrote: post #181

Earlier quoted context omitted.

Where are these third party developers that made decent money and Microsoft didn’t subsequently try to eat their piece of the pie? It is a repeated pattern and people are not stupid. (See also the Sherlock phenomenon with Apple). Valve, for example, have to invest in proton as the ultimate back up plan. For me personally that has proven quite helpful, but your initial business has to be wildly successful for you to b…

> and Microsoft didn’t subsequently try to eat their piece of the pie? That second part wasn't in the original claim, though. The parent comment is right. Sure, 21st century Microsoft has come for the utilities market, for the Lotus-to-Evernote market, etc., etc., but an entire software industry really did spring up in the eighties through to the early 2000s filling gaps in Microsoft software.

Oracle, SAP, Adobe, VMware, Intuit, AutoDesk, Activision Blizzard, Epic Games, Electronic Arts, just to list a few still surviving companies.

Microsoft absolutely expands into areas it considers strategic profit or capability centers. E.g. office productivity, web browser, database, gaming, etc.

But they, and especially early/smaller Microsoft (90s-00s), left a ton of money on the table for the good of the platform. Because they realized they couldn't do it all and be best-of-everything.

The fact that Microsoft can deploy its level of resources (e.g. crush Lotus) when they decide to doesn't mean that they always decide to.

Re: Arm Announces Public Filing for Proposed Initial Public Offering

#218

Post by berkle4455 »

Mistletoe wrote: post #190
klelatti wrote: post #138

I think in many ways Arm is (or should be) a sort of large 'Mittelstand' [1] business. Long term focus, independence, customer focus etc are key to the success of this type of business. Trouble is, its success and its sector has given it a profile that attracts attention from the likes of Softbank who have other ideas. A company doesn't need to have a Nvidia like P/E ratio to be successful. [1] https://en.wikipedia.o…

Do people use P/E as a metric for company success? I find the Nvidia one of 223 or so just a gross perversion, no real success there. It’s more about how irrational the average investor is now and how top heavy the SP500 is.

I think it’s a reflection of earnings potential. If nvidia can average 50% Y/Y earnings growth for the next 5 years, and stock price remains flat, that 223 falls to 30.

Re: Arm Announces Public Filing for Proposed Initial Public Offering

#219

Post by MichaelZuo »

pjc50 wrote: post #186
Fluorescence wrote: post #128

Earlier quoted context omitted.

Nah, the OP is talking bollocks. The angels I know are all middle/working-class entrepreneurs. There is no upper-class conspiracy holding people back, there just isn't much money. Non-Brits don't really understand that class is not money. Red trousers are closer to farmers than businessmen. If you are British and want to be a tech investor, you go to the US too.

> There is no upper-class conspiracy holding people back, there just isn't much money. I think the argument is that there _is_ plenty of money, it's just parked safely and quietly in property rather than investing in production or R&D. And not a "conspiracy" as much as the blank look the property investor class give you when you can't promise risk free leveraged 7% forever.

I don't see how that is anyone holding anyone back?

Why would you want to take funding from someone expecting no stress or hassle?

Re: Arm Announces Public Filing for Proposed Initial Public Offering

#220

Post by surajrmal »

amiga1200 wrote: post #187

I’m glad that RISC-V SBCs are starting to become usable.

Depends on what you mean by usable. If you don't need long term support, strong software ecosystem support, and performance parity, it's great. It'll be a few more years before everything comes together, but hopefully not too many.
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