Coinbase lays off around 1,100 employees

Re:Coinbase lays off around 1,100 employees by kortilla on Tuesday June 14, 2022 @05:39PM (#31746416)

These billionaires don’t have a billion dollars in cash. They have a huge chunk of a company shares that are currently valued at >1 billion.

So what you’re proposing is just that a company’s shares are taken away from the founders/execs as the company grows. It’s not just that you’re taking wealth away from them, but you’re fundamentally forcing them to sell off control of the company.

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Re:Coinbase lays off around 1,100 employees by Johnny555 on Tuesday June 14, 2022 @05:50PM (#31746505)

Well, I'm not proposing that people and companies do anything specific, it's up to them how to handle it. Maybe they'll choose to use less stock based compensation and more cash, maybe CEO's will end up with less compensation in general and the companies will retain more of that money for their own operations.

but you’re fundamentally forcing them to sell off control of the company

That part is true. Billionaires can retain control of their company by being good leaders and providing value to the company, not because they started it 20 years ago and retained a huge amount of stock.

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Re:Coinbase lays off around 1,100 employees by kortilla on Saturday June 18, 2022 @03:34AM (#31787944)

> Well, I'm not proposing that people and companies do anything specific, it's up to them how to handle it.

There is no other way. I don’t think you understand how shares of a company work. There isn’t some secret treasure chest of cash the owners have to pay that burden. They just have to sell off portions of the company because that’s what has value. This eventually results in a loss of control and dim-witted bureaucrats like the fund managers at black rock start to dictate direction.

The whole stance is antithetical to innovation all for the sake of wanting to take something because it has a high potential value.

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