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by rm_-rf_slash 3953 days ago
This kind of thing reminded me of when Eric Schmidt justified Google's reputationally low pay by saying "people don't work at Google for the money, they do it to change the world!"

Of course, Google's stock made him a billionaire.

To me this problem seems to root itself in the absurdity of equity percentages. How is it one who comes to the company a year after founding can work the same 10-12 hour days as a founder and yet see maybe 1% in options they have to pay for while founders expect 15% and up for being there at the beginning? Seems all right when the company is young and the risk is high, but what ends up happening is that the fresh blood 10,20 years on has to fight for scraps while the now-wealthy founders can enjoy their work knowing they could quit tomorrow and never have to lift a finger again.

White collar Walmart could pay its employees squarely to compensate for their mental health and social lives, but they act almost allergic to profits as long as they can continue stock offerings to keep prices at a minimum.