Why are Silicon Valley companies so socially irresponsible even though they are staffed by idealists? One rarely discussed reason might be their massive stock compensation packages, which incentivise employees to work against their leaders' promises.https://www.telegraph.co.uk/technology/2019/05/02/uncomfortable-truth-pay-silicon-valley/ …
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I'd agree with this - I've worked on sustainability/CSR issues at tech companies for >10 years and never saw compensation as inhibiting good behavior. The problem is that, despite what they say, SV companies are still companies, and at that scale
>morals. -
Sure, I don't mean to let leaders off the hook, as they are consistently pretty ruthless. I don't think stock is the only or even necessarily the biggest problem (corporations gonna corporate). Just a bunch of people have told me it is one of them!
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One thing I DO think equity compensation has screwed up is the housing market- kids get a shitload of stock, have no family/need for savings, and decide to 'invest' in the hot housing market. Most don't need/want a house, but they pay all cash and up tightening the market.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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