Apple chief executive Tim Cook gets $750m payout

Post by azth » Fri, Aug 27, 2021, 2:34 PM 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.

Post by Grustaf » Fri, Aug 27, 2021, 2:36 PM UTC

inetknght wrote: post #262

Grustaf wrote: post #77

Earlier quoted context omitted.

Of course no one needs it. But the discussion here was if he had earned it, and he definitely has. Relative to value creation, I bet he’s very low in the CEO compensation league.

> But the discussion here was if he had earned it, and he definitely has. I disagree. > Relative to value creation, I bet he’s very low in the CEO compensation league. You really think Tim Cook has created the value of the company? I very seriously doubt it. At the risk of whataboutisms: what about the engineers who did the work? What about the factory workers who did the work? What about the contractors who did the…

Post by UncleMeat » Fri, Aug 27, 2021, 2:38 PM UTC

ZephyrBlu wrote: post #288

UncleMeat wrote: post #282

Earlier quoted context omitted.

> PS: you could argue that Tim Cook is far more productive than everyone else because he produces far more results than everyone else. Of course. "Pay by productivity" does not mean "pay everybody the same per hour of labor". Cook's output has greater influence on the company than any (or perhaps almost any) other employee at Apple. He should be paid commensurate to that output.

Oh, how do you think of productivity then? (E.g stock price, revenue growth, etc?) I assumed you meant something along the lines "pay everybody the same per hour of labor" since that seems to be how most people describe productivity.

Post by aeoleonn » Fri, Aug 27, 2021, 2:52 PM UTC

snowwrestler wrote: post #252

rglullis wrote: post #59

Earlier quoted context omitted.

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?

There’s only one Tim Cook in the world. But, there’s also only one me in the world. CEOs don’t get paid so much because they are personally unique. Every human is globally unique; it’s a consequence of how complex humans are. CEOs have artificial scarcity because of the hierarchical structure of companies. By definition, there’s only one CEO of Apple. Does that mean that ONLY Tim Cook, out of billions of humans, coul…

Post by fighterpilot » Fri, Aug 27, 2021, 2:53 PM UTC

jaggederest wrote: post #43

danpalmer wrote: post #28

Earlier quoted context omitted.

I think you can say that about anyone who makes anything based on work from anyone else. While it's important to recognise those others (as those at Apple with stock based compensation have been), I don't think it nullifies the point because they didn't do all the work themselves.

In what possible world could Tim Cook personally have done anything worth $75m, let alone $750m? How can any single human being create value at that scale? I don't understand the apologia for what is, on its face, a massively skewed system of compensation completely unrelated to any possible basis in reality.