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Apple chief executive Tim Cook gets $750m payout

bbc.com

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Re: Apple chief executive Tim Cook gets $750m payout

#81

Post by UncleMeat »

Aeolun wrote: post #72
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?

> by their scarcity By their perceived scarcity Chances are that anyone other than Tim could have done just as well. Still, this is over 10 years, and Apple shares have increased in value by 1900%. If they were still the same value he’d have gotten 40M, for about 4M per year. Which is much more reasonable. I still think it’s high, but in line with what others get.

Because it should be about productivity. People are highlighting a moral failing of society.

Re: Apple chief executive Tim Cook gets $750m payout

#82

Post by bidirectional »

DasIch wrote: post #73
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?

> 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? You do realize that it's possible to disagree with that, right?

The way it's phrased, I don't see how. You can disagree with the acceptance of it and work to change how things are done.

Re: Apple chief executive Tim Cook gets $750m payout

#83

Post by [deleted] »

DasIch wrote: post #73
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?

> 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? You do realize that it's possible to disagree with that, right?

[deleted]

Re: Apple chief executive Tim Cook gets $750m payout

#84

Post by DasIch »

Grustaf wrote: post #70
beckman466 wrote: post #46

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…

Put it this way. In the last 5 years Tim Cook has created $1900 b in shareholder value. If you divide that by 160000 you get $12 m. Now I don’t know how many phones a foxconn worker can make per year, but I do think it’s fair to assume they do not each create much more than $2 m in value annually. Or another way to see it. While creating 2 trillion dollars of value for shareholders, he has been paid about 1.5 b. As a…

> In the last 5 years Tim Cook has created $1900 b in shareholder value.

That's just obviously not the case unless Tim is the only person working at Apple. All employees contributed that and it's perfectly reasonable to discuss how these rewards should be distributed, even if they should be distributed to shareholders at all.

Re: Apple chief executive Tim Cook gets $750m payout

#85

Post by Grustaf »

tgv wrote: post #60
jl6 wrote: post #37

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.

In unrelated news, Apple Stock went down a sharp 11% when the company announced that it would hand out $750M to workers at its factories.

When was this?

Re: Apple chief executive Tim Cook gets $750m payout

#86

Post by [deleted] »

rglullis wrote: post #59
beckman466 wrote: post #46

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…

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?

[deleted]

Re: Apple chief executive Tim Cook gets $750m payout

#87

Post by scoopertrooper »

DasIch wrote: post #73
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?

> 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? You do realize that it's possible to disagree with that, right?

Then put forward your counter argument.

Re: Apple chief executive Tim Cook gets $750m payout

#88

Post by mombul »

Aeolun wrote: post #72
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?

> by their scarcity By their perceived scarcity Chances are that anyone other than Tim could have done just as well. Still, this is over 10 years, and Apple shares have increased in value by 1900%. If they were still the same value he’d have gotten 40M, for about 4M per year. Which is much more reasonable. I still think it’s high, but in line with what others get.

So the fact that Apple's share price has increased 1,200% since he took over is just a coincidence?

Re: Apple chief executive Tim Cook gets $750m payout

#89

Post by skeletron »

akie wrote: post #69
spottybanana wrote: post #58

Earlier quoted context omitted.

> 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 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 cer…

You are justifying someone being paid $750m. No one needs that much money. No one. Why are you defending this? It's obscene. Really reminds me of this https://i.kym-cdn.com/photos/images/original/002/147/150/e2c...

It just goes to show how deeply the capitalist narrative dominates our entire society, that we have people defending this so earnestly.

Re: Apple chief executive Tim Cook gets $750m payout

#90

Post by Kiro »

beckman466 wrote: post #46

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…

Sorry, but your question is something I would expect a kid to ask the first time they become aware of inequality. Compassionate but extremely basic. The problem obviously can't be distilled to such a simple and shallow question.
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