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Unity CEO John Riccitiello is retiring, effective immediately
(arstechnica.com)
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this post was submitted on 09 Oct 2023
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Pisses me off that CEOs never get fired for their bullshit and get to "retire" or "resign" like they didn't just make the most boneheaded decision that severely hurt the company.
There really needs to be some organizational structure where the CEOs have the power to make the decisions they make, but the employees have the power to punish and fire them when they do shit like this. No golden parachutes for them!
CEOs are beholden to the shareholders, not the employees
Employees should be automatic shareholders. Ought to be a workers right by default to receive some portion of the equity they're producing.
Edit: And to be clear, shareholders win too. More companies should voluntarily structure themselves to grant shareholder rights to employees. Dumbass company ending mistakes are usually seen a long way off by line and rank employees.
But it should also be legally mandated structure, much like 401k rules exist now. I propose that all players involved are better off with such a rule, other than the (not currently rare) asshole CEOs who only want to pump and dump their stock.
Whoa get those perverted thoughts out of here commie scum!
It's actually pretty common to provide employees with stock options. But depending on the situation, it can be a better deal for the company than the employees. For the company, equity is a relatively cheap way to "motivate" employees. For the employees, it goes against the principle of portfolio diversification: if the company does badly, not only is their regular income threatened, but so are their assets.
I’ve gotten options at the last three companies I’ve worked for and they’ve never been worth more than $5,000.
Yeah, most employees would much rather be paid the cash equivalent of whatever their stock option may have been
Unity employees are shareholders, but greatly in the minority compared to the executives. The C-suite is routinely granted thousands of shares while the lowly employees are given a few hundred RSUs every year, which vest over a period of 4 years. It's kinda bullshit how little equity employees by comparison, but definitely by design.
They receive money which can be used to buy equity, no? It’s their choice not to. At least in a publicly traded company.
That point aside, I usually do receive stock in the company at jobs I’ve worked. Financial firms.