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Why I Retired From Apple

donmelton.com

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Re: Why I Retired From Apple

#61

Post by rboyd »

btilly wrote: post #56
othermaciej wrote: post #51

Earlier quoted context omitted.

Typically you get a much smaller number of RSUs than options. Though there's no strike price. So RSUs are often worth more if the stock doesn't move much, but worth a lot less if there is a huge run-up.

The benefit of RSUs to the company is not just that they are worth more if a stock doesn't move much, but that they retain value when a stock drops. This avoids the trap where a company has a dip in value, and suddenly all of the people you were trying to keep golden handcuffs on have nothing keeping them there. So they start leaving, which causes you real problems. The downside is exactly what you say - the potentia…

Am I missing something? You still have the same problem with RSUs. RSU value can decline enough that your staff may feel they're no longer getting fair comp and move on.

Re: Why I Retired From Apple

#62

Post by btilly »

rboyd wrote: post #61
btilly wrote: post #56

Earlier quoted context omitted.

The benefit of RSUs to the company is not just that they are worth more if a stock doesn't move much, but that they retain value when a stock drops. This avoids the trap where a company has a dip in value, and suddenly all of the people you were trying to keep golden handcuffs on have nothing keeping them there. So they start leaving, which causes you real problems. The downside is exactly what you say - the potentia…

Am I missing something? You still have the same problem with RSUs. RSU value can decline enough that your staff may feel they're no longer getting fair comp and move on.

It can, but it is a lot harder.

If your stock price dips 20%, odds are that most of the stock options you've given out in the last couple of years are now out of the money. But your RSUs retained 80% of their value. 80% of a golden handcuff is a lot better incentive to stay than 0% of one. However Wall St can easily drop your stock price 20% based on nothing real.

Re: Why I Retired From Apple

#63

Post by xijuan »

htp wrote: post #35
larrys wrote: post #27

Earlier quoted context omitted.

Not reflecting on Don who I don't know but I've always wondered if people who go out of their way in trying to appear to be humble are reacting to the disgust that they feel when others aren't appearing humble. Stuff like this: "I think it was a shock to my son to see how I was regarded at work. Of course, that didn’t mean he started respecting me at home but, hey, a man can dream." and this: "At my core, I’m just a…

> I've always wondered if people who go out of their way in trying to appear to be humble are reacting to the disgust that they feel when others aren't appearing humble. I can’t speak for Don, but for me it’s always been an attempt to communicate three things: 1. I am not inherently smarter or more talented or in any way “better” than you 2. My accomplishments come from long hours and hard work 3. Even after taking #…

Agree with you totally! I am not pretending to be humble..It is just there is not so good about me to brag about..I also want to add:

4) I have weaknesses too. If you know all of my weaknesses, you probably won't think so highly of me.

Re: Why I Retired From Apple

#64

Post by snowwrestler »

rednukleus wrote: post #9
duopixel wrote: post #7

I've been thinking about all the great things that have happened within tech companies in the last few decades, and it seems clear to me that a couple of centuries into the future, some of these events will be hallmarks of history. I don't think it's crazy to say that Tim Berners-Lee will eventually reach the same stature of Gutenberg. Unfortunately there aren't many 'historians of technology' so people like Don Melt…

It really depends on how things progress. Apple might be in the history books as a "shining example of how tightly integrated hardware and software works so well"; or as "the last big attempt which showed that in the long run closed systems never work". It could really go either way from here. How these events are remembered is going to be very coloured by how they are perceived after the event.

I think the dichotomy you express is probably already a thing of history. The concepts of hardware and software as separate markets made sense when it was still possible to buy hardware that was not run by software.

Today even "hardware" companies like Nokia or Samsung do quite a bit of sophisticated software development, and "software" companies like Google and Facebook build datacenters and server hardware.

You can't even buy a car or TV without a few million lines of code these days.

Re: Why I Retired From Apple

#65

Post by Byliner »

donmelton wrote: post #12
apawloski wrote: post #10

"But if there’s anything I do aspire to, it’s being a writer. ... I’m not vain enough to think it’s my snappy prose that drew the visitors. It was the subject matter." Don (if you're out there reading this), your blog has almost single-handedly returned me to using an RSS reader. Yes, initially this was for your Safari/WebKit war stories, but please stop being so humble. You've won the technical-yet-engaging lottery…

Thank you so much. I am humbled by that, sir. I will take your advice to heart.

Don, I'll second the notion that you're already a very fine writer! I'd be happy to chat writing with you any time you'd like.

Re: Why I Retired From Apple

#66

Post by pootch »

The way the industry is run now, we all have to react to the transient nature of our employers. Apple is probably less transient than most at its core. But its nice to see someone who had a career somewhere move on, but for the rest of us without stock options or "minions", its really a question of where is this whole thing heading. The career of software engineers is not heading in a good direction at the same time that ordinary people are finally beginning to see the benefits of technology in their own lives. Its not about burnout so much as it is that we as engineers were the only ones who cared to see,know and touch how the sausage was made. I feel that this view will only get more dim and more grim as time passes. The more people want technology in their lives, the faster and more brutally we will become a sweatshop.

Re: Why I Retired From Apple

#67

Post by hef19898 »

wpietri wrote: post #45
eykanal wrote: post #17

After reading so many "I'm leaving company X because try all suck" posts, this was such a nice read. The author didn't leave because he hated everyone, or because he felt very the business model was evil, or because he was tired of being worked like a dog, he left because e did his part and was done. While I know it internally, it's always nice to read someone saying, "I did my part, I did it well, and I'm leaving on…

I think it depends a lot on when you leave. If you work past the point of being done with it, you really start to hate it. And then it's very easy to blame everybody and everything else, rather than your decision to stay past the point where you loved it. I get why people do that, though. Sometimes they love something and want to fight for it. Sometimes they have to keep working if they want their kids to keep eating…

Yes, to actually catch the point where you should leave is the hardest thing. Kudos that there are people out there who can. So there's still hope!

Re: Why I Retired From Apple

#68

Post by Mvandenbergh »

rboyd wrote: post #61
btilly wrote: post #56

Earlier quoted context omitted.

The benefit of RSUs to the company is not just that they are worth more if a stock doesn't move much, but that they retain value when a stock drops. This avoids the trap where a company has a dip in value, and suddenly all of the people you were trying to keep golden handcuffs on have nothing keeping them there. So they start leaving, which causes you real problems. The downside is exactly what you say - the potentia…

Am I missing something? You still have the same problem with RSUs. RSU value can decline enough that your staff may feel they're no longer getting fair comp and move on.

Of course, but if your stock price drops by 25% or so then the RSUs still maintain most of their value. If you were issued $400,000 of RSUs and they're now worth $300,000 - that's still a powerful incentive not to leave before they vest.

On the other hand, if you're issued stock options with a strike price of 10% or so below the market price when they were issued, a 25% drop means that they're completely worthless.

Re: Why I Retired From Apple

#69

Post by jrochkind1 »

You don't actually tell us why you retired from Apple beyond "The truth is I was done." Or did I miss it?

I mean, that might be the only reason you've got... but I'm not sure why this would be interesting to an audience of people who don't know you personally. On the other hand, it seems to have been, so what do I know.

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