4 ms·
That sounds more like an option pair for an equity. Both your upside and downside are limited and you get a steady income stream. Slavery is very different.
by buzzdenver 8y ago
That sounds more like an option pair for an equity. Both your upside and downside are limited and you get a steady income stream. Slavery is very different.
- someguydave 8y agoExcept, is your downside really limited? It's true the company must make payroll while you are still employed. However, the employer has the option of firing you. While this might not put in you in debt to the employer's creditors, it does reduce the value of your employment contract to zero AND reduces your attractiveness to future employers. If you only have had one employer for a long period, this is a large blow. Taleb makes the point that the taxi driver is in an enviable position compared to the salaryman for this reason.
- buzzdenver 8y agoYour downside is limited to being laid off, so it is limited. They can't go after your personal assets if the company goes bankrupt, or claw back past wages. And a couple of tangential points: 1) Being laid off because your company went under is not a bad black mark on your resume. 2) You have the freedom to terminate your employment at any time just like the company can. That's very different from slavery.