Conversation

Guessing that the projections for California’s budget deficit didn’t take the incredible Nasdaq run, trillion-dollar market caps & IPO boom into account. Curious to see how much of the gap it closes.

do they own stocks?

Assuming people sell to realize their paper gains before exiting the state and don’t have offsetting losses.

Adam Nash

@adamnash

Sep 6, 2020

Given the massive shift to RSUs for compensation by both the large tech giants (public) and the new decacorns, most of the tax gains will accrue to the state on vesting. This could be an issue long term, but unlikely to be on in 2020. Just the Apple/Google employee base alone...

Replying to

and

Ya good point. I wonder what the total YoY increase in value of RSU comp to CA residents is.

12:12 AM · Sep 7, 2020Twitter for iPhone

Replying to

and

Apple alone is up over 100% in 2020. So every offer made in 2019 (or before) is paying out 2x every quarter what was originally accepted. Another useful yardstick: most big tech companies dilute about 1% per year for equity compensation.