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Comment by cool_dude85 | Hacker News Reader

>As an employee you don't have financial risk tied to the company

Is your livelihood, housing, ability to put food on the table for your family etc. not a risk by your understanding? Or are you only willing to accept certain types of financial risk as "risk"?

Here's an illustrative question: John Q. Billionaire owns shares in a passive index fund such that he practically has the same exposure to Amazon's stock price as if he owned $10 million in stock. I will potentially be homeless if I lose my 45k per year job at Amazon. Who has more risk?

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This drives me nuts. You move to another city, risk your livelihood on a new job that you don’t know if is gonna work out for you. Your kids go to a new school, your partner has to either move to find a new job, or make it work long distance for a while… Your whole life changes on what is essentially a bet, you have no security whatsoever. And people say the risk is not yours.

Also - and I think this is the main thing - you have NO SAY in any of it after you sign that contract. An owner DECIDES to close shop. To fire people. You risk being fired for whatever reason comes to the mind of your boss, manager, director, owner.

But yeah, no risk. No risk at all.

Then don’t do that? In 2020, when I had the “opportunity” to work at Amazon in a role that would eventually require relocating after COVID, there was no way in hell I was going to uproot my life to work for Amazon and that was after my youngest had graduated. I instead interviewed for a “permanently remote role” [sic]. If that hadn’t been available, I would have kept working local jobs for less money.

Anyone with any familiarity about tech knew or should have known what kind of shitty company Amazon was. At 46, I went in with my eyes wide open. I made my money in stock and cash and severance and kept it moving when Amazon Amazoned me. It was just my 8th job out of now 10 in 30 years.

If your a billionaire and you invest in index funds, the risk of becoming homeless is really low, sure. The system works in such a way that the more money you have the easier it is to make more money. So if your stuck at the bottom, your really stuck.

And I believe there is a huge shift of wealth going on, to a very small number of insanely rich people. And that is a very big problem.

I don't think the billionare is at risk of becoming homeless even if they invest all $10m in a single company and it goes belly up.

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