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http://sfbay.craigslist.org/sby/atq/5560593228.html
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Apr 29, 2016 02:03
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 Meanwhile, click here to learn why billionaire Carl Icahn just dumped every share he has in Apple. I like this bit: quote:Icahn said he called Tim Cook, Apple's chief executive, to alert him to the news. "He seemed sort of sad to hear that," Icahn said.
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Apr 29, 2016 05:31
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Wheany posted:First: be born to rich parents Seriously, nepotism is like 50% of it. Going by the last 5 years of CEO fuckups, you can gently caress up an unmeasurable number of CEO positions and still somehow get hired at another fortune 500 company because your friends are members of the board.
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Apr 29, 2016 08:33
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You can gently caress up a lot of jobs a number of times and still get another one. Not sure if this is Unicorn proper, but you know that it's the thinking that feeds them: a poem from quora questions posted:Why do so many startups fail?
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Apr 29, 2016 18:42
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axeil posted:If they can run out the clock on that until we have autonomous self-driving cars they'll have won. The drivers are merely a transitional step, like how Netflix's ultimate goal was streaming but had to do DVD by mail for its first few years of existence as the technology wasn't ready yet. Yeah, and if he just survives to be the last man on the planet, surely someone will touch that fat nerd in the corner's peen.
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Apr 29, 2016 23:37
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http://techcrunch.com/2016/04/29/handcuffed-to-uber/ why a lot of Uber employees (Not pseudo contractors) are rather hosed.
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May 1, 2016 00:10
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Hughlander posted:http://techcrunch.com/2016/04/29/handcuffed-to-uber/ why a lot of Uber employees (Not pseudo contractors) are rather hosed. Pinterest did a good thing there, making that option exercise timeline years long. But from the article: quote:There was “no pop,” says one longtime Uber employee who asked not to be named. “Uber doesn’t want everyone in the deal” because, unlike Facebook, “it wants a spike” when it finally has its public market debut. This is the dumbest thing. If a stock goes from 100 to 150 right after IPO, the company left a ton of money on the table, giving it to speculators instead. A pop is a sign of a mis-priced IPO.
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May 1, 2016 00:16
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Isn't it about time for Uber to run another fundraising round? The last leaked investor financial sheet showed a burn rate so high that they would have run through half of their $2B round from January by now. If that article is right and Bill Gurley's rant is actually an indication of inside information that Uber accepted dirty terms on the last fundraising round things could get rather interesting with VC tightening up. I don't think a company as egotistical as Uber would take a down round with grace.
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May 1, 2016 00:52
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It's pretty impressive how Uber keeps coming up with ways to be terrible.
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May 1, 2016 01:03
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Subjunctive posted:Pinterest did a good thing there, making that option exercise timeline years long. Literally the only thing I can think is that they see the writing on the wall and hope to massively inflate the value of the stock at the ipo and bail two weeks later.
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May 1, 2016 01:16
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Bushiz posted:Literally the only thing I can think is that they see the writing on the wall and hope to massively inflate the value of the stock at the ipo and bail two weeks later. Except employees will be locked up for 6 months after IPO.
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May 1, 2016 01:36
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Subjunctive posted:Except employees will be locked up for 6 months after IPO. Can't make obscene profits if you let everybody get out while the getting's good, now can you?
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May 1, 2016 02:10
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Uber forced to admit that discrimination against the blind is illegal even when you're disruptive:San Francisco Chronicle posted:Uber is settling a discrimination suit by blind passengers with an agreement to carry the passengers’ guide dogs in their vehicles and to fire drivers who refuse, advocates for the blind said over the weekend.
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May 2, 2016 17:31
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Exciting news in the field of Marissa Mayer's severanceArs Technica posted:On Friday, the company disclosed the packages that will be available to key executives if they are ousted in the event of a sale. Mayer will be paid $54.8 million in cash and stock if she's removed from her job within a year of a sale.
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May 2, 2016 18:31
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walgreenslatino posted:Exciting news in the field of Marissa Mayer's severance These parachute contracts are so preposterous that they should be banned to save companies from themselves.
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May 2, 2016 21:23
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walgreenslatino posted:Exciting news in the field of Marissa Mayer's severance quote:The fact that Yahoo's financial situation has gotten worse during Mayer's tenure will make her pay package a controversial issue. Yahoo shares dropped 34 percent in 2015, while Mayer made $14 million. (She would have earned nearly $36 million if shares had risen.)
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May 2, 2016 23:46
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Hughlander posted:http://techcrunch.com/2016/04/29/handcuffed-to-uber/ why a lot of Uber employees (Not pseudo contractors) are rather hosed. A 40% tax rate on my 300 million dollars, the horror.
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May 3, 2016 00:11
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sbaldrick posted:A 40% tax rate on my 300 million dollars, the horror. Well, a 40% tax rate on that money that the spreadsheet says I'm worth but who the gently caress knows, and also I'm a regular old software engineer and I barely make the payments on my condo is more accurate.
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May 3, 2016 00:14
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a foolish pianist posted:Well, a 40% tax rate on that money that the spreadsheet says I'm worth but who the gently caress knows, and also I'm a regular old software engineer and I barely make the payments on my condo is more accurate. You take out a loan against the shares, leave and sell. Enjoy your money.
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May 3, 2016 00:21
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sbaldrick posted:You take out a loan against the shares, leave and sell. Enjoy your money. Except Uber prohibits taking loans against the shares.
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May 3, 2016 00:23
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Y'all acting like you never heard of marginal taxation
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May 3, 2016 00:25
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Cultural Imperial posted:Y'all acting like you never heard of marginal taxation well like 99.5% of the payout would be at the highest tax rate anyway
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May 3, 2016 00:27
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RandomPauI posted:Except Uber prohibits taking loans against the shares. If I have shares and don't work for Uber anymore, Uber can suck it. I imagine a small fraction of the $300mm can be used to write a compelling legal case that shows such an arrangement is none of Uber's business. Also, we do have a broken tax system if we are levying millions in taxes on people who only have paper gains.
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May 3, 2016 01:28
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If you don't work for Uber, you probably don't have the shares. I'm assuming they have the normal 4 year option vesting schedule with 90 day exercise window. The company has only been around since 2009, so the latest you could have joined and be fully vested right now is 2012, when they had about 15 real employees, according to Wired. So barring somebody who got an obscene grant and then bolted immediately, which is likely a vanishingly small group, the only people who are going to be paper millionaires in an IPO are still going to be bound by the lockup. Don't get me wrong, people are going to make money, but I doubt it's going to create a big wave of new wealth the way Google or even Facebook did. And a big IPO day pop is a reward to investors, speculators and underwriters at the expense of the rank and file employees, especially when the market over-reacts to the normal downward trend of a public company stock in its first year and yo-yos the thing to below IPO price by the time the lockup expires.
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May 3, 2016 02:32
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on the left posted:If I have shares and don't work for Uber anymore, Uber can suck it. I imagine a small fraction of the $300mm can be used to write a compelling legal case that shows such an arrangement is none of Uber's business. Like 90% of our tax-code and system revolves around the concept of things appreciate or depreciate in value and you're taxed accordingly. We do have a broken tax system, but trust me going too hard on folks making millions off stocks is hardly an issue.
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May 3, 2016 02:35
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on the left posted:I imagine a small fraction of the $300mm can be used to write a compelling legal case that shows such an arrangement is none of Uber's business. Share restrictions have a long and well-established history; this isn't something Uber invented. If you could break that class of terms for even $300MM you would snap a lot of finance like a twig.
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May 3, 2016 03:57
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sbaldrick posted:A 40% tax rate on my 300 million dollars, the horror. A REAL 40% tax rate on completely hypothetical 300 million dollars. The tax should be levied when you try to sell the drat things, not just trying to keep your claim. It's a completely bullshit setup.
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May 3, 2016 04:34
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redscare posted:A REAL 40% tax rate on completely hypothetical 300 million dollars. edit: Like do you not see how big of a problem "until it's cashed out it has no value" would have if applied to all stock options or gifts? We already see stock options and other perks used to bypass the income tax rate. Coolness Averted fucked around with this message at 04:47 on May 3, 2016 |
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May 3, 2016 04:42
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RandomPauI posted:Except Uber prohibits taking loans against the shares. the only time a second mortoage on your house is OK
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May 3, 2016 05:15
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Coolness Averted posted:I too have years of experience filing a 1040ez so feel justified critiquing taxation on investments and non-liquid assets. Uber probably won't be an example, but there certainly have been people burned by owing more taxes on their tech bubble options than their eventual worth. This isn't a problem with the tax code so much as stock options as remuneration, though.
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May 3, 2016 09:49
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Coolness Averted posted:edit: Like do you not see how big of a problem "until it's cashed out it has no value" would have if applied to all stock options or gifts? We already see stock options and other perks used to bypass the income tax rate. I don't see the problem at all. In Canada we're changing the tax treatment of stock options so they're only taxed when the gains are realized, I doubt we're dooming ourselves to be a Bioshock hellscape by doing so.
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May 3, 2016 14:52
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Share options as remuneration the way they are implemented is a horrible thing that should just loving die already. I mean in 99.9999% of the cases it's not gonna be worth poo poo, and on the rare off chance that they are, it's a lottery whether you'll actually get real money out of it.
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May 3, 2016 15:05
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Guy DeBorgore posted:I don't see the problem at all. In Canada we're changing the tax treatment of stock options so they're only taxed when the gains are realized, I doubt we're dooming ourselves to be a Bioshock hellscape by doing so. You guys also have an inheritance tax and generally don't give handjibbers to the upper class, so it's not just apples to apples here. Seriously though, the issue is that you're worried about people being able to get a bunch of compensation, then stringing along the tax payments on it to reduce the overall burden. Extra points if they can do it until they die, because with no inheritance tax you can often use death as a way to skip out on more taxes. That kind of thing is part (along with stupidity like letting trusts exist into eternity and giving a poo poo about what how dead people want their money spent) of why we have a mess with the rich in the US.
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May 3, 2016 15:16
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rkajdi posted:You guys also have an inheritance tax and generally don't give handjibbers to the upper class, so it's not just apples to apples here. The US applies the rule against perpetuities (indefinite trusts). There are exceptions for certain kinds of charity transfer systems, but they're pretty limited iirc. The US also has estate taxes, although they're limited and there are loopholes that reduce how much those taxes collect at the federal level.
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May 3, 2016 15:35
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I mean, you CAN hold off on exercising an option until you're in a favorable tax position, but it's still kind of stupid and complicated to get the most out of options. Frankly, getting most of your comp in options is kind of a scam startups pull so they can hire better quality talent at below their market worth. Doubly so if they have a dual class structure and they only ever give out non-voting or limited-voting shares. The perception is that having a lot of pre-IPO stock will make you rich, when in reality it's closer to being paid with lotto scratchers.
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May 3, 2016 20:52
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rkajdi posted:You guys also have an inheritance tax and generally don't give handjibbers to the upper class, so it's not just apples to apples here. Canada has an unlimited capital gains exemption on primary residences, up until 2015 a top federal tax bracket which started at $140k CAD, and a gigantic loophole for stock options where they are taxed at 50% of normal income. There are plenty of ways in which the Canadian tax code is really dumb and in certain cases even more advantageous to high income earners than the US one.
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May 3, 2016 22:14
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blah_blah posted:Canada has an unlimited capital gains exemption on primary residences, up until 2015 a top federal tax bracket which started at $140k CAD, and a gigantic loophole for stock options where they are taxed at 50% of normal income. There are plenty of ways in which the Canadian tax code is really dumb and in certain cases even more advantageous to high income earners than the US one. Also, no concept of short-term capital gains outside of day trading.
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May 4, 2016 00:16
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blah_blah posted:Canada has an unlimited capital gains exemption on primary residences, up until 2015 a top federal tax bracket which started at $140k CAD, and a gigantic loophole for stock options where they are taxed at 50% of normal income. There are plenty of ways in which the Canadian tax code is really dumb and in certain cases even more advantageous to high income earners than the US one. I'm guessing this is part of the reason the Vancouver housing market is going up uP UP?
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May 4, 2016 00:25
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Where Theranos falls, another company rises! Dead could be brought 'back to life' in groundbreaking project
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May 4, 2016 16:42
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MikeCrotch posted:Where Theranos falls, another company rises! How long until investors realize they probably wont make an actual zombie and it costs alot of money to let people gently caress around with brains all day.
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May 4, 2016 17:54
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