22 ms·

so basically they can prevent employees from selling their stonks at will... makes said stonks worthless don't it?

• olliej 3y ago
  Well no, you still have to pay taxes on the stock when it vests, usually stock compensation is handled by a fraction of the stock being sold upon vesting to cover those taxes but I'm not sure how that works when you can't sell the stock yourself and spacex gets to invent the value those shares have when they're granted. If a company wants to have stock based compensation, the company needs to allow employees to get priority in exchanging stock during funding rounds or "tenders" (I guess that what they're called at spacex scale), or it needs to be public. The idea that you can pay someone in an asset but then turn around and say "actually you don't own that asset" is absurd, but tracks with Elon's general view that employees don't deserve compensation or basic employment rights.