51–60 of 360 posts
off-topic What people exactly do with their billions of dollar in their 60s or 70s? Is it worth working whole life to get a lots of game coin in the end of life? How about working till 40 to earn enough money for the rest the of life?
I also don't think age has anything to do with the desire for success.
I know, this is HN - even 1% would be robbery.
This is obscene. He didn't make any iPhone or other device nor worked behind the counter, yet he takes the money that could have been redistributed among the workers. Despicable man.
So work is only working behind the counter for you?
I am utterly disgusted. More than two weeks no adequate response over CSAM and "scanning" of all devices and already media is pushing the "new shiny things are coming" and PR for the Tim Apple.
This is sickness on whole new level. Just sayin.
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 :)
This is obscene. He didn't make any iPhone or other device nor worked behind the counter, yet he takes the money that could have been redistributed among the workers. Despicable man.
The money was distributed among the workers - which include both people behind the counter and executives like Cook - as the shareholders chose and agreed. Arguably they chose to allocate it like they did (which workers to incentivize more and which less) because they consider that it maximizes their own profit by attracting good workers and motivating them, and they chose to offer Cook a deal that (especially in retrospect) looks very lucrative. Perhaps it was worth it and perhaps it's just gifting him undeserved money - but in any case it's their right to do as they wish even if they spend their money stupidly and randomly give it to someone and not someone else, since all of it (i.e. Apple, it's assets and profits and the value created) belongs to the shareholders, and workers - both people behind the counter and people like Cook - get only what they agreed with the company and thus it's owners/shareholders.
So 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…
Now a lot of that is due to share prices, and my opinion is share prices are not set by the market any more, are massively inflated to make the US government look good, but that doesn't have much to do with Cook, much like Tesla's share price doesn't have much to do with Elon Musk (I'm serious, the guy is good at marketing, but that only takes you so far).
There's been low interest rates for almost 2 decades now. One of the primary effects of that is inflated share prices.
So, to say the least, this is a complex situation. Comparing Cook's renumeration to a chinese worker is just silly.
So 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…
Nobody has been making these productivity claims to begin with, but leftists commonly use productivity vs salary to ridicule CEO compensation.
CEOs are paid for numerous reasons, for example board wants to trust the person with billions worth of assets which makes it sensible to pay certain amount just to guarantee greed doesnt take over, for example. Productivity is one factor but I doubt it is always the most important thing.
So 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…
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?
This actually seems like a totally appropriate reward for 10x’ing the value of the company. Compared to the total value of the company, if anything it seems small.