upvote

points

by porridgeraisin1 days ago |
comments
upvoteby officeplant1 days ago|
next
[-]
Our corporation gives us worthless certificates for "money", that only pay out conditionally based on if the company gets re-evaluated for worth.

Our 401K match maxes out at $50 per paycheck.

reply
upvoteby lovich1 days ago|
prev|
[-]
You are in a bubble if you are surprised at the idea of companies not giving out stock, much less RSUs specifically. While it’s common in the big tech Silicon Valley companies there are thousands of other tech companies where the most they give are options, and I must repeat with a litany of caveats that make them effectively worthless, and even more where they only pay salary and have no way to gain equity at all.

I am in a lower tier of the market than Silicon Valley and after 15 years of making over six figure salary I have not been given a single stock, and none of my employees or members of my social circles that don’t work at FAANGs have either.

reply
upvoteby eudamoniac6 hours ago|
parent|
next
[-]
I got RSU at Cisco, Boeing, Home Depot, not exactly FAANG tier companies
reply
upvoteby porridgeraisin17 hours ago|
parent|
prev|
[-]
Considering how my second paragraph was ignored, I assume you own stock in major companies either directly or through indices, thus making you a capital owner that makes money from other people's work (work used in the literal sense)?

Note that around half of the US stock market is passively owned, so this is not a small number on aggregate

Further see: my reply to a sibling in this same thread.

reply
upvoteby lovich14 hours ago|
parent|
[-]
I “own” stock through my 401k. The “own” is in scare quotes because I cannot liquidate it other than as a loan for a home, and then only with my employers permission which is an odd definition for ownership and which most of the middle class in the US is bound by.

Considering how you ignored the response to you asking

> Eh? Which tech company doesn't give RSUs to fresh grads? Startups of course give options.

I assume you are not here in good faith and just want to argue that all is well and good.

Don’t try and hide behind your second argument when your first point was contested and then act all indignant.

Edit:

Responding to

> Further see: my reply to a sibling in this same thread.

I found your other reply here[1], quoting in case you edit it

> Exactly. The original comment in this thread asked if most tech workers here are part of the capital class themselves. Which was answered by saying that if you're employed by someone else, you are part of the worker class and thus tech workers are part of the worker class. > Introducing the fact that it's a spectrum and that equity ownership (which a vast majority of people in this industry have) makes you a capital owner is exactly my correction to that.

You are still assuming that most tech workers are given stock grants and have equity. I fundamentally disagreed with that.

I do not believe that the vast majority of people in this industry have been given equity.

Don’t try and pretend that I am wrong because I disagree with you. Show your work or be dismissed.

[1] https://news.ycombinator.com/item?id=48742201

reply
upvoteby eudamoniac6 hours ago|
parent|
[-]
FYI 401Ks can be withdrawn from penalty free via a Roth conversion ladder.
reply