5 ms·

I'm pretty sure that lifetime NDA is a myth. It gets repeated very often (like a lot of the Renaissance mythos) but I haven't seen evidence for it, and on its f

I'm pretty sure that lifetime NDA is a myth. It gets repeated very often (like a lot of the Renaissance mythos) but I haven't seen evidence for it, and on its face it sounds flagrantly unenforceable. It could be that the compensation alone substantially reduces turnover. Likewise once they've hit "their number", employees may decide to go into tech or philanthropy instead of a competing firm. For what it's worth, Renaissance (remarkably, in my opinion) advertised a role in the most recent Who's Hiring thread.

ttobbaybbob 8y ago
The NDA/non-compete may not enforceable, but if Renaissance believes employees with valuable IP are being poached, they will sue and make it very expensive to hire, then defend, ex-rentec employees. https://www.marketwatch.com/story/renaissance-millennium-settle-trade-secrets-dispute https://www.marketwatch.com/story/renaissance-millennium-set...
- JumpCrisscross 8y ago
  They’re totally up front about this requirement, too, when making offers. (Source: I turned one down.) You are to move to Long Island, buy a house, buy into the employees-only fund and work there for the rest of your financial career.
  - WrtCdEvrydy 8y ago
    LOL, No. How do you even enforce that? If I get a job somewhere else, there's no reason for me to disclose where I'm going.
    - qaq 8y ago
      They will prob run regular checks and you are prob. signing off on them having a right to do so.
    - JumpCrisscross 8y ago
      > How do you even enforce that? By suing your new employer for $20 million [1]. (On the other side of the coin, they offer like a month of paid vacation a year, plus longer sabbaticals every few years, plus tons of benefits...if Long Island and math are your thing, it's a very nice place to work.) [1] https://www.marketwatch.com/story/renaissance-millennium-settle-trade-secrets-dispute https://www.marketwatch.com/story/renaissance-millennium-set...
  - throwawaymath 8y ago
    That's interesting. Did you apply, or did they find you? I could see that offer being attractive.
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ttobbaybbob 8y ago

The NDA/non-compete may not enforceable, but if Renaissance believes employees with valuable IP are being poached, they will sue and make it very expensive to hire, then defend, ex-rentec employees. https://www.marketwatch.com/story/renaissance-millennium-settle-trade-secrets-dispute https://www.marketwatch.com/story/renaissance-millennium-set...

JumpCrisscross 8y ago
They’re totally up front about this requirement, too, when making offers. (Source: I turned one down.) You are to move to Long Island, buy a house, buy into the employees-only fund and work there for the rest of your financial career.
- WrtCdEvrydy 8y ago
  LOL, No. How do you even enforce that? If I get a job somewhere else, there's no reason for me to disclose where I'm going.
  - qaq 8y ago
    They will prob run regular checks and you are prob. signing off on them having a right to do so.
  - JumpCrisscross 8y ago
    > How do you even enforce that? By suing your new employer for $20 million [1]. (On the other side of the coin, they offer like a month of paid vacation a year, plus longer sabbaticals every few years, plus tons of benefits...if Long Island and math are your thing, it's a very nice place to work.) [1] https://www.marketwatch.com/story/renaissance-millennium-settle-trade-secrets-dispute https://www.marketwatch.com/story/renaissance-millennium-set...
- throwawaymath 8y ago
  That's interesting. Did you apply, or did they find you? I could see that offer being attractive.

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