837 karma · joined February 23, 2015
I am rational. I want my money to work hard for my family. If I believe, I can provide a secure future for my family by investing in AMZN then I will do that. Through all the mutual/index funds, I am probably invested in a lot of companies whose practices I disagree with. Examples: Avoiding taxes (double irish with a dutch sandwich), super low minimum wages and expecting public to pay for their care (walmart and food stamps use of their employees), abysmal working conditions (foxconn deaths/suicides), shipping manufacturing jobs to China/Malaysia/Philippines and exploiting low-wage workers there, advertising and selling unhealthy/processed and getting kids hooked to high-{sugar,salt,bad fat} diet. We have practically proved that the best engine to create wealth is capitalism. The dichotomy you have provided is a false one. I love all the good properties of capitalism but I am also aware of its acute shortcomings, if there is no government or regulation. This doesn't mean that I will stop being a rational economic actor.
Things I mentioned are what I heard from current/ex Amazon employees. What I wrote about benefits are facts (else people would have refuted them right away). Only exaggeration was about Execs laughing their asses off; I was just making a point.
- There was a production outage once at Amazon and my friend's manager and her team (including my friend) gave a post-mortem to a large audience. Port-mortem sessions are open for everyone to attend. He mentioned, it was a free-for-all. Execs were hurling F-bombs every sentence and the team was publicly humiliated. The manager was in tears and was later demoted. I could see how my friend was feeling for her as a person/human being.
- One employee asked about possibility of providing free food ala Google/FB in a org level all-hands. Exec pooh-poohed Google for being highly irresponsible and that they can never sustain themselves spending so much on free food. Lazlo Block says it is one of the best things at Google.
- Frugality - I heard you don't even free get pop at Amazon. No paternity leave. Maternity leaves are much shorter compared to what people take at Google/Facebook out of fear. Poor health benefits and 401K matching compared to Microsoft/Google/FB.
- Sweatshop - People are over worked and are working on weekends/holidays a good chunk of time. 70 hr weeks seem to be the norm. Get only one day-off for Christmas and Thanksgiving.
Many Amazon execs are probably laughing their asses off looking at companies in the valley one-upping each other with great pay, quality free food, extending maternity/paternity leaves, generous health benefits and 401K contributions. "Look at these losers in the valley, and look at us, we pay employees pea-nuts, treat them like garbage, don't give a fuck about their well-being or families but still get a ton of shit done. Our stock is soaring! "
A good chunk of their engineers who are willing to take this kind of abuse are H1-Bs waiting for greencards. All new college grads wisen up after looking at their friends from Google/Facebook/Mircosoft, jump ship after a couple of years. Only people who stay there for a long time seem to be people who really like this kind of confrontational/psychopathic environment or incompetent engineers who rose into management, and cling onto their jobs.
When we are talking about his legacy as a President, it pains me that we didn't extend the Presidency platform to him for another term for the betterment of India.
$25 billion is all employees money; Even if we exclude Simon's money ($14 billion) it is a ton. 35% avg annualized returns for 20 years. Simply stunning.
We should collectively be critical about how loosely we tend to use superlatives and not base the stories spun by PR machinery to qualify a person or her work. Elon Musk has invested his money, ideas, energy into - Making solar one of largest sources of clean energy - An electric car which is not a joke and probably better than a BMW M5 to drive, self-driving cars? - Satellites to cover entire land on earth with wifi - A plan to go to Mars and setup a camp there - A plan for rapid transit through tubes. Opensourced design blue-prints. - SpaceX
He is not dead and he has long way to go. We should reserve the word visionary for people like him. Let us be honest.
Apple is not even on the list of all top graduating kids who wants a job in top valley firms (Google, FB, Dropbox, Twitter, AirBnB, Uber, Pinterest, LinkedIn, Quora, other promising startups). Any software engineer who is in the valley for a while (and heard the inside horror stories of working for Apple) wouldn't want to work there. There is no way in hell, senior engineers from the new age tech companies (listed above) will go to Apple. Apple will have a hard-time poaching them. Based on this, I have to conclude that most good engineers@Apple are candidates who have a tenure of more than 15 years and are aging. All, relatively new Apple employees are either left-overs in the talent-pool who couldn't make the cut to the above top firms/startups or really B-grade senior engineers. What is Apple's strategy of thriving in a knowledge economy, when the only asset you need are "great people" to succeed in the long term. They probably have great hardware engineers. It is a travesty that though they are the richest company in the world, they still couldn't build a compelling cloud services suite which is better and cheaper than what Dropbox, Google, Box, Microsoft can provide. This comment, will probably ruffle a few feathers. [updated for typos/grammar]