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Comment by taywrobel | Hacker News Reader

Genuine answer - I have a metric shit ton of Apple stock after being there for several years. I want to see the company succeed, purely for financial reasons if none other. At least until I hold the stock for a year and only pay capital gains on it.

Secret hiring blacklists don’t exist. And if they did, I wouldn’t want to work at a company that uses them anyways.

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Many companies DO have self-hiring blacklists. Basically a checkbox that says "would rehire". I don't know if there are legal criteria necessary to check that box.

I haven't heard of them sharing the lists with other companies.

Apple and other companies have also had do-not-hire agreements with business partners (basically no-poaching) but they were sued and I believe stopped doing that.

Now unofficially, your guess is as good as mine.

Yeah, but Apple seems to hold grudges against everyone who leaves, so I’m not too worried about that.

I heard rumors of recruiting guidelines to not accept people back who left Apple to go to Netflix back when it was the new kid on the block. I also only knew 2 people who left and came back in several years there.

Given the rest of my experience there I am not chomping at the bit to return. It’s not a great place to work in server side infrastructure. At least not until some significant cultural shifts occur.

> I have a metric shit ton of Apple stock after being there for several years. At least until I hold the stock for a year and only pay capital gains on it.

Genuine question for anyone who gets RSUs at a public company like this. Why do you keep your $FANG stock when it is granted?

You've already paid income tax on the basis, which is the closing price the day you got it. The year long timer for long term capital gains tax starts the day you get it. So vesting $X of grants on your vesting day and holding is equivalent to just buying $X of stock on any old day. As a bonus, you're already heavily heavily exposed to that stock because A) they're your employer, and B) presumably unvested RSUs coming in the future.

It's not an equivalent of buying. It's an equivalent of receiving it and paying taxes on it immediately right with the stock, or with your cash if you so choose.

If your particular letter of FAANG currently outperforms the market ("S&P 500" index, etc), I see no incentive to immediately sell it and reinvest into something else. Of course you can sell and reinvest if you see an even better investment opportunity, but most of the employees don't, they are engineers, not experienced stock traders.

What's the difference that it is not equivalent to buying? Nothing is special tax-wise about those shares that they came from RSUs. If you got N shares at $X you've paid taxes on $X*N, she same if you bought those shares with cash in your bank account. If you wish to own extra stock in your employer you'd be better suited to dollar cost average and buy every paycheck.

> If [your company] currently outperforms the market

What does that mean? Outperforms over some past time period? That has no bearing on the future. If you have insider knowledge that you think your company will outperform the market in the future I agree it makes sense to keep, but see above about dollar cost averaging and also consult your lawyer about insider trading laws.

> most [don't], they are engineers, not experienced stock traders.

Exactly, and the standard advice for non-experts is to buy index funds. Not try and guess which specific companies will outperform the market.

There’s a lot of confidence there for lack of hiring blacklists when Google, Apple, etc are known to have shared hiring data with each other to underpay new hires.

I've been involved with hiring in several companies accused of having "blacklists" or other shady hiring practices. The closest I have ever seen is recruiters or engineers recognizing problematic people from previous jobs and flagging that with the hiring manager. But there's no magic list they consult. Having such a thing even exist would be ripe for a heavy discrimination lawsuit if it ever saw the light of day.

Maybe I'm wrong and I'll be unemployed forever now that I had the apparent audacity to say this, but... yeah, I doubt it.

Maybe not quite what's being intended by this discussion, but definitely related to hiring blacklists in general (if for a different reason), were Google, Apple and Adobe agreeing not to hire some of each other's employees.[1]

1: https://www.cnet.com/news/apple-google-others-settle-anti-po...

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