iPhone factory workers say they haven’t been paid, cause millions in damages

Re:iPhone factory workers say they haven’t been paid, cause ... by loeg on Monday December 21, 2020 @09:55AM (#25495428)

You're free to buy as big a stake in your employer's stock as you want, and reap the profits. The point I'm trying to make is: what is a fair % of Apple's profits for an individual worker, and how much would it cost that worker to buy in as a worker-owner? Back of the envelope: $2.13T market cap, 137k employees: $15.5 million buy-in cost per employee-owner (~123k shares each). Dividends per share 2020: $2.615, or $323k/yr per worker. Please check my math, but I think I have the orders of magnitude right.

Personally, if you have a spare $15.5 million, I'd recommend a more diversified portfolio of broad-market low-fee index funds and (IMO) early retirement.

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Re:iPhone factory workers say they haven’t been paid, cause ... by maxmamis on Monday December 21, 2020 @10:07AM (#25495550)

Congrats on entirely missing the point, which is that the workers created that wealth in the first place and should not have to “buy in” (read: purchase equity from capitalist owners) to receive the reward that is rightfully theirs

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Re:iPhone factory workers say they haven’t been paid, cause ... by loeg on Monday December 21, 2020 @10:12AM (#25495608)

I might be missing the point still. When did workers create the wealth, exactly? If you're talking about Apple's first five employees, sure, they could have bought in for not very much money in 1980 or whatever (they probably were part-owners and/or paid in equity!). But there weren't any profits in 1980, either, nor for a long time. And most employees have probably moved on in that 40-year window.

Someone joining Apple today did not create any of that wealth.

Not sure why a random hire today "rightfully" deserves some huge transfer of wealth from the "capitalist owners" (read: owners) on their start date. Can you elaborate on that step?

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Re:iPhone factory workers say they haven’t been paid, cause ... by crumbshot on Monday December 21, 2020 @11:41AM (#25496556)

> Someone joining Apple today did not create any of that wealth.

Everyone working for Apple, including indirectly, i.e. all the way down its supply chains, are collectively generating wealth for the company.

Just imagine how much fairer it would be towards all these people who did the actual work, if the profits generated from every iPhone, every iPad, every MacBook sold (and so on) ended up in their pockets instead.

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Re:iPhone factory workers say they haven’t been paid, cause ... by Frondo on Monday December 21, 2020 @12:22PM (#25497037)

> When did workers create the wealth, exactly?

When they showed up to the factory that day and turned a pile of parts into an iphone.

Where do you think the wealth comes from?

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