No matter how big is Apple is today, $750m is an obscene amount of money. Don't understand people that can justify that.
Apple chief executive Tim Cook gets $750m payout
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Re: Apple chief executive Tim Cook gets $750m payout
#42> 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. I'm normally a proponent of reducing income inequality. But this has got me thinking. Is the world actively better off when billionaires like Cook/Gates/Buffett make a ton of money. Consider the alternative: someone in the 75th percentile of USA income gets a fat raise. Mo…
Assuming they're telling the truth and will donate their fortunes you're then reliant on their whims as to what gets the money.
Re: Apple chief executive Tim Cook gets $750m payout
#43Earlier quoted context omitted.
> which he has essentially 10x'd the value of in his tenure Think there might have been one or two other people involved in that. Maybe even a few more than that.
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.
Re: Apple chief executive Tim Cook gets $750m payout
#44> 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. I'm normally a proponent of reducing income inequality. But this has got me thinking. Is the world actively better off when billionaires like Cook/Gates/Buffett make a ton of money. Consider the alternative: someone in the 75th percentile of USA income gets a fat raise. Mo…
How did billionaires amass that much riches? How much environmental distrution, erosion of democracy and workers rights, and general negativity brought them up to this level? Giving back a few million to the community does not offset that.
Re: Apple chief executive Tim Cook gets $750m payout
#45That is penis rocket money right there.
Re: Apple chief executive Tim Cook gets $750m payout
#46So 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 Foxconn’s total workforce? [2] /s
The contrast between working conditions is also interesting:
“The [Foxconn] factory has no medical facilities or hospital on site, so any injured workers have to be transported to a hospital that’s farther away. Another work hazard is the lack of fire safety: there are no exits or labeled escape routes and no fire safety drills. Similar to other factories that China Labor Watch has reported on, there’s no labor union for the Hengyang workers. There’s a process for filing complaints, but the workers don’t believe it does any good.”
Which seems quite a contrast to ‘Apple Park’ where Tim works.
What makes Apple treat Chinese workers so differently?
[1] https://www.theverge.com/2018/6/11/17448544/amazon-foxconn-w...
[2] https://www.google.com/search?q=how+many+foxconn+employees
Re: Apple chief executive Tim Cook gets $750m payout
#47Good 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.
Re: Apple chief executive Tim Cook gets $750m payout
#48> 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. I'm normally a proponent of reducing income inequality. But this has got me thinking. Is the world actively better off when billionaires like Cook/Gates/Buffett make a ton of money. Consider the alternative: someone in the 75th percentile of USA income gets a fat raise. Mo…
"If every person used their resources for the best of society, the world would be a better place!"
Sure thing.
The problem is, many of those people also burn money for yachts and spaceships.
Plus, to me all this charity stuff seems like a buyout. Gates basically made the world a worse place, before he started to make it better.
Re: Apple chief executive Tim Cook gets $750m payout
#49> 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. I'm normally a proponent of reducing income inequality. But this has got me thinking. Is the world actively better off when billionaires like Cook/Gates/Buffett make a ton of money. Consider the alternative: someone in the 75th percentile of USA income gets a fat raise. Mo…
If you force them to donate it's now called a taxes and government fund research.
Re: Apple chief executive Tim Cook gets $750m payout
#50> 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. I'm normally a proponent of reducing income inequality. But this has got me thinking. Is the world actively better off when billionaires like Cook/Gates/Buffett make a ton of money. Consider the alternative: someone in the 75th percentile of USA income gets a fat raise. Mo…
I see your point and I somewhat agree. But this is based on the assumption that only upper-middle-class engineers work for Apple.
However, the people in factories producing these products for Apple definitely deserve a raise. Income inequality should be fixed throughout the supply chain and not only benefit the upper-middle-class.