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colmmacc's profile
Colm MacCárthaigh
Colm MacCárthaigh
Colm MacCárthaigh
@colmmacc

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Colm MacCárthaigh

@colmmacc

AWS, Apache, Crypto, Irish Music, Haiku, Photography

Seattle
notesfromthesound.com
Joined April 2008

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    1. Daniel Vassallo‏ @dvassallo 16 Apr 2019
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      Replying to @colmmacc @QuinnyPig @_msw_

      Each person owns one-third of the company, which is different than “the company”. Partners say they’re co-owners, not owners. They specify the co- for a reason. Also, RSUs are not shares. They’re just a salary form that’s convenient for public companies. I looked up ownership:pic.twitter.com/7QFrMcYmnx

      1 reply 0 retweets 0 likes
    2. Colm MacCárthaigh‏ @colmmacc 16 Apr 2019
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      Replying to @dvassallo @QuinnyPig @_msw_

      *rolls eyes* :-) When you have to go to an encyclopedia because the dictionaries don't link it to control ... maybe stubbornness is a factor ;-) Come off of it! Our RSUs absolutely become shares, and 401k contributions are AMZN shares too, and they come with votes!

      1 reply 0 retweets 0 likes
    3. Colm MacCárthaigh‏ @colmmacc 16 Apr 2019
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      Replying to @colmmacc @dvassallo and

      Also co-pilots aren't pilots! I can't even.

      1 reply 0 retweets 0 likes
    4. Daniel Vassallo‏ @dvassallo 16 Apr 2019
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      Replying to @colmmacc @QuinnyPig @_msw_

      Getting paid $100K in cash vs $100K worth of RSUs makes absolutely no difference towards ownership. If you got the RSUs and chose to keep the shares, you’re no different than those that got the cash and bought the stock themselves.

      1 reply 0 retweets 0 likes
    5. Colm MacCárthaigh‏ @colmmacc 16 Apr 2019
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      Replying to @dvassallo @QuinnyPig @_msw_

      That's not our model. Our model is different than in at least two very important ways. Firstly: we are granted stock in vesting schedules and the future value of that grant may go up or down. That aligns our personal incentives with the collective ...

      1 reply 0 retweets 0 likes
    6. Colm MacCárthaigh‏ @colmmacc 16 Apr 2019
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      Replying to @colmmacc @dvassallo and

      it's in our interests to see the whole company, all of our colleagues, succeed, over a period of years, and not just our own little narrow part of it. This is idealistic of course, and our influence can be small, but I think it matters and promotes cohesion.

      1 reply 0 retweets 0 likes
    7. Colm MacCárthaigh‏ @colmmacc 16 Apr 2019
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      Replying to @colmmacc @dvassallo and

      Secondly: RSUs become shares and our 401k gets stock and that means we have votes and a say. It's not a majority, and it's not as much worker-ownership as I'd prefer to see (like a true cooperative), but it's significant. Colleagues are using those rights to submit petitions!

      1 reply 0 retweets 0 likes
    8. Colm MacCárthaigh‏ @colmmacc 16 Apr 2019
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      Replying to @colmmacc @dvassallo and

      Both of these things are a product of ownership and go beyond what transactional cash achieves.

      1 reply 0 retweets 0 likes
    9. Daniel Vassallo‏ @dvassallo 16 Apr 2019
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      Replying to @colmmacc @QuinnyPig @_msw_

      I know you mean well, but this is beyond idealistic. As an ex AMZN emp myself for 8yrs, I never cared about my future RSUs. When AMZN stock price dropped in 2014/15, I got topped up mid-year to make up the shortfall. When in 2016 I got a $380K offer from Oracle when I was...

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    10. Daniel Vassallo‏ @dvassallo 16 Apr 2019
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      Replying to @dvassallo @colmmacc and

      ... making $230K, AMZN topped me up with RSUs mid-year to match the competing offer. RSUs are salary, and public companies use them instead of cash because the don’t affect cash flow. The money comes from shareholder dilution instead of the bank account. No other reason.

      1 reply 0 retweets 2 likes
      Colm MacCárthaigh‏ @colmmacc 16 Apr 2019
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      Replying to @dvassallo @QuinnyPig @_msw_

      Well if you didn't care, I don't know why we matched the offer ;-) Why do we give shift-working FC employees stock? that's not typical for the retail industry. Why do we cap our SVP cash salaries at extremely low amounts compared to the industry?

      10:12 PM - 16 Apr 2019
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        1. Colm MacCárthaigh‏ @colmmacc 16 Apr 2019
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          Replying to @colmmacc @dvassallo and

          I think it runs pretty deep and is tied to ownership and alignment. But independent of the why, I gives us license as workers to be more than mere employees, and to have - and insist on - a strong meaningful say in our collective direction.

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        2. Daniel Vassallo‏ @dvassallo 16 Apr 2019
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          Replying to @colmmacc @QuinnyPig @_msw_

          Because it’s $5.4 billion dollars of compensation that didn’t have to come out of Amazon’s bank account.pic.twitter.com/OXqBqOFoxB

          1 reply 0 retweets 0 likes
        3. Colm MacCárthaigh‏ @colmmacc 16 Apr 2019
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          Replying to @dvassallo @QuinnyPig @_msw_

          I don't understand this argument. That can be true (and smart!) /and/ my points can be true, and none of it diminishes ownership.

          1 reply 0 retweets 0 likes
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