Does Vox make a profit each year?
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Oh I know. It’s mind boggling. They should have argued for profit sharing. This way everyone’s incentives are aligned. Vox business model isn’t set up for high earning writers. It’s set up to create pageviews at the cheapest rate. Their business isn’t booming, this will only hurt
Would be very upset if I were a VC invested in vox. Hard to see how they get a return.
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Perhaps they won’t, but that’s the hazards of being a VC. Profit sharing is only useful to rank and file once competitive wages are in place. Hopefully the next agreement will address it.
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If most NYC media companies are unionizing due to “uncompetitive wages” then doesn’t that mean the market has decided what a competitive wage is? And if these people keep working there then the wages ARE competitive.
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Yes, it's bad. In this case, it's Accel, a major VC. Two of their big backers are the Davidson County Metropolitan Government Employee Benefit Trust Fund and the Delaware Public Employees Retirement fund. So if Accel loses, it hurts many people.
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