begin Yosem Companys quotation of Sat, Nov 23, 2019 at 06:56:47PM -0800: > Bigger companies have a legion of > contractors who don't see the lavish benefits of full-timers, creating a > world of "haves" and "have nots." And gig economy platforms have stripped > some workers of rights and benefits.
For companies that are still private, another factor here is a change in how venture funding works. It's obvious that companies are staying private longer, and that almost all exits are by acquisition. What hasn't been obvious to employees is the terms under which capital is raised. Some investors insist on terms that give them a guaranteed payout when the company is sold, which ends up making employee stock worthless. (Employees are "at the bottom of the preference stack") https://angel.co/blog/liquidation-preference-your-equity-could-be-worth-millions-or-nothing This is now becoming more and more clear to people as they experience it or see friends going through it. A classic Silicon Valley strategy was to trade equity for labor peace. The more tricks that management pulls to get out of their side of the bargain, the less well it's working. -- Don Marti <[email protected]> https://blog.aloodo.org/ Are you safe from 3rd-party web tracking? https://www.aloodo.org/test/ -- Liberationtech is public & archives are searchable from any major commercial search engine. Violations of list guidelines will get you moderated: https://lists.ghserv.net/mailman/listinfo/lt. Unsubscribe, change to digest mode, or change password by emailing [email protected].
