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This assumes that the performance of companies is driven by the CEO much more than the employees. If the Bay Area has great FANG companies because of talented w
by dontreact 6y ago
This assumes that the performance of companies is driven by the CEO much more than the employees. If the Bay Area has great FANG companies because of talented workforce here, then CEOs will gladly take a pay cut to be able to employ the best workers.
- core-questions 6y ago> If the Bay Area has great FANG companies because of talented workforce here The talented workforce is there because of the companies. Why would someone deliberately choose to live in San Fran when given the choice of many cleaner, nicer cities with a lower cost of living? I guess if you really like fog and hills
- astine 6y agoSan Francisco is a well known culture hub. The startup industry started source of it in Silicon Valley but shifted north because of the appeal of living in San Francisco.
- kinkrtyavimoodh 6y agoTrue, but none of these things exist in isolation. Culture is created by people, it is not a geographical feature like mountains or lakes. The Silicon Valley wasn't nominated as the tech hub overnight, it became one through an organic process thanks to a mix of good weather, access to capital, a pool of talented employees etc. Don't take any of that for granted (well except the weather I guess, but with Global Warming and earthquakes who knows).
- ponker 6y agoOne thing about the world cities is that you find that they remain the world cities through thousands of years of civilization. London has been a city for 2000 years, Damascus 4000... San Francisco had appeal before the tech industry was here and will have it after it’s long gone.
- bduerst 6y agoYep. Founders would likely be on the board and just give themselves different titles from CEO if they really cared, so it shouldn't impact startups.
- HenryKissinger 6y ago> just give themselves different titles from CEO "Lead executor" "Company Chief" "Dear Leader" "Head Director" "Paramount Leader" "Viceroy" "Corporate Emperor"
- JoeAltmaier 6y agoLord High Muckety-Muck Emperor for Life Grand PoohBah
- PopeDotNinja 6y agoMore like “Advanced Master Individual Contributor LOL”
- dgoldstein0 6y agoThe measure wasn't to tax based on CEO pay. It was based on the highest paid managerial employee. So title doesn't matter.
- stainforth 6y agoJust want to comment that thank god we can actually build rules that can't be loopholed.
- TuringNYC 6y agoNot sure if this was sarcastic, but this law will absolutely be loop-holed. Prediction: Many lower-paid staff will be outsourced (Think Apple and Foxconn; Think big companies and their outsourced cleaning company). Currently, typically things like cleaning staff, internal mail, dining get outsourced. Expect customer support to also start getting outsourced. The unfortunate thing is that now there would be a middle-person also collecting a spread from the company/worker (but to the company, the spread will be lower than the tax.)