Earlier quoted context omitted.
c) European.
On the other hand, unemployment is consistently higher in Europe than in the US (and wages are lower), so pick your poison.
I think it's an easy pick, to be honest.
Coinbase lays off around 1,100 employees
471–480 of 1001 posts
Re: Coinbase lays off around 1,100 employees
#472Earlier quoted context omitted.
c) European.
According to this[0], the absolute most generous package is the Netherlands, which offers 1/3 of your monthly salary for each year of employment. To receive 14 weeks of salary, you'd need to work at a company for 10 years. Coinbase was founded in 2012. Other "European" countries have much worse severance packages. So what Coinbase offered seems to be better than even the best country in Europe. 0. https://www.claimsa…
> which offers 1/3 of your monthly salary for each year of employment. To receive 14 weeks of salary, you'd need to work at a company for 3.5 years,
1/3rd of a month is 1.44 weeks. To get 14 weeks, that would be 10 years.
You're right in that Europe generally provides less severance, but they do tend to sign fixed term, renewing employment contracts with rather lengthy notice periods for either side to terminate it. E.g. in Switzerland, statutory minimum after 1 year of employment is end-of-calendar-month + 2 months of notice, but typical agreements extend this.
Also, there's the whole concept where regulators are involved with layoffs and negotiate for payments and assistance in many jurisdictions.
Re: Coinbase lays off around 1,100 employees
#473Earlier quoted context omitted.
According to this[0], the absolute most generous package is the Netherlands, which offers 1/3 of your monthly salary for each year of employment. To receive 14 weeks of salary, you'd need to work at a company for 10 years. Coinbase was founded in 2012. Other "European" countries have much worse severance packages. So what Coinbase offered seems to be better than even the best country in Europe. 0. https://www.claimsa…
You are comparing apples and orages. Coinbase was generous, it could have chosen to give them exactly 0 and that would have been legal. You're taking the best case scenario in one case and comparing it to the norm in another country.
The person I was replying to was taking the norm in another country and suggesting it is as-good-as-if-not-better than what Coinbase offered.
Re: Coinbase lays off around 1,100 employees
#474Re: Coinbase lays off around 1,100 employees
#475Earlier quoted context omitted.
I love how this thread is full of people simping for billionaires with absolutely ridiculous strawman scenarios like this one…
Can you explain how it is a strawman? Someone else accused it of being a strawman, but then could only claim that it is "contrived", which is not the same as a strawman. So where's the strawman? Would the person in this scenario not be affected by a proposed wealth tax? Also, I don't really get how it is "simping for billionaires" in the slightest. If I said that billionaires shouldn't be pulled from their mansions a…
It's not a straw man, I believe a better idiom would be 'the tail wagging the dog', i.e. you're using an extreme edge case to argue against the big picture proposal. A real tax would include the small picture details: payment plans, equity swaps, valuation tribunals, etc to cover the oddball cases. But none of that would matter, you would sell it and net the $500M.
Re: Coinbase lays off around 1,100 employees
#476Earlier quoted context omitted.
Also, billionaires' wealth isn't parked in a vault, right? It's invested in companies, so it's working in the economy whereas it would otherwise go to the government. It's not obvious to me that the government is going to provide more value for the public in general than industry, but I would like for that to be the case (an easy solution for inequality that doesn't shrink our economy overall).
A lot of wealth is parked in shares of companies. I'm not sure to what extent that is actually productive...?
None, none at all.
Re: Coinbase lays off around 1,100 employees
#477Earlier quoted context omitted.
There are plenty of people in the world who would think that anything over $500/month is way more than enough for one person. Should your compensation be reduced to that amount? Does someone earning more than you hurt you? Also… do billionaires employ people? Do you want their employees to have their jobs seized from them when the johny555 tax goes into effect?
> There are plenty of people in the world who would think that anything over $500/month is way more than enough for one person. Should your compensation be reduced to that amount? Disclaimer: I live in a 3rd world country and my salary is 1/3 of what the standard US salary is. YES, I do believe that everybody's compensation (including mine) who are in the top 10% of the population should be decreased/limited. Provide…
Just curious, if 10% of people holding 70% of wealth is unreasonable, how do you reconcile 1% of Spotify artists getting 90% of all "streams"?
Basically, you're saying that the current distribution is crazy/unsustainable (and maybe it is) but the distribution is actually not totally out of whack with the 80/20 rule (or Pareto principle).
Just wondering where your confidence comes from that a functioning society doesn't actually depend somewhat on that distribution? i.e. that the general populace's sense of "fair" isn't actually correctly calibrated at this distribution?
Re: Coinbase lays off around 1,100 employees
#478Earlier quoted context omitted.
According to this[0], the absolute most generous package is the Netherlands, which offers 1/3 of your monthly salary for each year of employment. To receive 14 weeks of salary, you'd need to work at a company for 10 years. Coinbase was founded in 2012. Other "European" countries have much worse severance packages. So what Coinbase offered seems to be better than even the best country in Europe. 0. https://www.claimsa…
> which offers 1/3 of your monthly salary for each year of employment. To receive 14 weeks of salary, you'd need to work at a company for 3.5 years, 1/3rd of a month is 1.44 weeks. To get 14 weeks, that would be 10 years. You're right in that Europe generally provides less severance, but they do tend to sign fixed term, renewing employment contracts with rather lengthy notice periods for either side to terminate it.…
Thanks for the correction!
Re: Coinbase lays off around 1,100 employees
#479Earlier quoted context omitted.
We live in the most equal time in human history. The actual standard of living of the average person in most developed countries rivals that of royal families from just a couple of centuries ago. Don't confuse monetary inequality with wealth inequality. Measure by the standard of living, not monetary units. What are the actual differences between the life of the average American worker and Jeff Bezos? It's not that b…
Lots of America struggles under the weight of trying to pay for basic health care and dental (50% of Americans have medical debt[1]) and for many education is utterly out of reach. 11.4% of America lives in poverty (poverty being defined as "a lack of those goods and services which are commonly taken for granted by members of mainstream society"). It's disingenuous to look at the state of things and say that because…
They struggle more with being overweight. Most humans in most of human history struggled with having enough food and water to survive. They would trade their struggle for ours in a heartbeat.
Americans are the people who complain when the wifi goes down or someone says the wrong word.
Re: Coinbase lays off around 1,100 employees
#480Earlier quoted context omitted.
A wealth tax wouldn't change that. No billionaire is going to sit around and watch his $1B fortune be whittled away in 5 years by a 20% tax. Instead he's going to divest -- he'll put the money into other companies or charitable foundations.
You statement makes it sound like they aren't currently doing those things already. Can you point to some data that shows they aren't donating to charities and aren't diversified? I can understand if someone like Bezos is highly invested in the company he founded but overtime he will be like Gates and hold a small portion of his portfolio in Amazon and the rest broke up across many companies and charities.
Then I guess a wealth tax is not needed, billionaires are already giving away all of their money or starting new companies through direct investments, so they're no longer billionaires.