RJ Scaringe gets new pay package worth up to $4.6 billion

[kurtlikevonnegut]

Thank you, I corrected. I mathed $70B then found the article stating $66.5B, missed a backspace.




Now I'm really confused. There are 2 of you?! Or are you just 1 person arguing with yourself?

He's got multiple accounts that he uses to prop himself up and/or argue with himself. Or maybe it's part of the "Duo" schtick?

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[kanundrum]

Meet too. I met him him at the Laguna Beach Spaces at the pre opening event.

I don't know about killing puppies but he too is a human and not a saint so I don't expect him to be without personal desires, biases and motivations.

Oh for sure he is still human and probably wants a lot of cash but who doesn't

 

[DuoRivians]

Thank you, I corrected. I mathed $70B then found the article stating $66.5B, missed a backspace.




Now I'm really confused. There are 2 of you?! Or are you just 1 person arguing with yourself?

I was here first haha

 

[Donald Stanfield]

I've personally found that worrying less about what other people have leads to more happiness but you do you.

You can argue the merits of compensation based on previous performance or future impact, but arguing that it's just too much money for anyone to have is simply disconnected from reality.

Imagine if I said "nobody should be more than 6' tall, it's unfair to short people and it would make life better for everyone else if everyone was closer in height" and then started amputating the legs of people over 6' tall or binding the legs of children to restrict growth.

That’s a false equivalence my guy. Cutting someone’s legs off would harm their quality of life. Capping wealth or having a tax system where billionaires don’t really happen makes quality of life BETTER for lots of people and doesn’t harm the people being capped.

We can both agree that no one is on their own, especially people in business right? They rely on a functional society to operate. When the base people are struggling to meet basic human needs it doesn’t make any sense to have people sitting on piles of wealth.

 

[Donald Stanfield]

That’s a false equivalence my guy. Cutting someone’s legs off would harm their quality of life. Capping wealth or having a tax system where billionaires don’t really happen makes quality of life BETTER for lots of people and doesn’t harm the people being capped.

We can both agree that no one is on their own, especially people in business right? They rely on a functional society to operate. When the base people are struggling to meet basic human needs it doesn’t make any sense to have people sitting on piles of wealth.

Also id like to address the “my life would be happier if I worried less about what other people had” statement. When I had much less than I do now, I supported YOUR position. As I got more money and reached a level of financial freedom I realized that I could live an amazing life on a tiny fraction of what these people are making.

There isn’t a huge quality of life bump, effectively there’s no reason for that level of wealth.

 

[kurtlikevonnegut]

Also id like to address the “my life would be happier if I worried less about what other people had” statement. When I had much less than I do now, I supported YOUR position. As I got more money and reached a level of financial freedom I realized that I could live an amazing life on a tiny fraction of what these people are making.

There isn’t a huge quality of life bump, effectively there’s no reason for that level of wealth.

We have a fundamental disagreement on material wealth and this isn't really the forum for that debate.

In the specific instance of this compensation package, the argument that it's too much money simply because nobody should have that much money is not grounded in reality.

 

[Donald Stanfield]

We have a fundamental disagreement on material wealth and this isn't really the forum for that debate.

In the specific instance of this compensation package, the argument that it's too much money simply because nobody should have that much money is not grounded in reality.

Why is it not grounded in reality? Isn’t it the job of the people to decide how society is ran? You haven’t provided a single tangible reason to support your argument.

Also this thread is about a compensation package, when it’s in the billions of dollars, I think talking about whether or not a CEO making that sort of money is good for the company or society is completely relevant to the topic at hand.

 

[TexasBob]

Actual target value at IPO ($78/share) was $66.5B*. What people paid each other on the market... Another story.

https://markets.businessinsider.com...zon-ev-startup-66-billion-trading-debut-tesla

*Corrected, thanks @kurtlikevonnegut

Ok but going from 66.5 to 143 over 15 years is 5.3% return. The janitor would have to put 80% in savings and 20% in an index fund.

Give me $2 million a year and a $4b prize and I will absolutely guarantee you a nominal 5.3% rate of return. Any monkey can do that.

 

[True Brit]

Is quality improving? Are wait times for service improving? R1T has been out for 4 years...

I think he needs to work harder.

 

[Golfer04]

The only way to stop these crazy comp packages is to address stock awards in the tax code. Could make the award and ultimate capital gain taxed as ordinary compensation (because it is) instead of capital gains. The tax handling of stock awards & options is ridiculous. Although admittedly I've never understood why capital gains on anything other than your primary residence should be taxed less than ordinary income. At least C corp dividends have a reason to have a discounted tax rate; the income has already been taxed.

 

[kurtlikevonnegut]

The only way to stop these crazy comp packages is to address stock awards in the tax code. Could make the award and ultimate capital gain taxed as ordinary compensation (because it is) instead of capital gains. The tax handling of stock awards & options is ridiculous. Although admittedly I've never understood why capital gains on anything other than your primary residence should be taxed less than ordinary income. At least C corp dividends have a reason to have a discounted tax rate; the income has already been taxed.

Except it isn't. With vesting schedules stock awards can be worth far less after vesting than they are at award. Companies don't give $10,000 cash bonuses that are worth $1,000 a year later. It is entirely feasible that you could end up paying more in taxes than the award is worth upon vesting.

Stock awards carry risk that cash awards do not, taxing them as if they are cash is a frankly ridiculous concept.

 

[TerryInHouston]

I have only one question. What benefit is it to you to make any money over 100MM. What can you do with 1 billion that you couldn’t do with 100MM? Nothing of any practical significance.

Like it or not these “great minds” live in a society and rely on others to be in the position to make money at all. RJ and Elon need the janitor sweeping the floor and the person making the cars to create what they do. When those people cannot afford a basic standard of living there is no justification for someone to have the level of wealth of a decent sized country.

You think these guys just stuff their mattresses with it? - No - the invest - in many other opportunities - they spread that money everywhere which benefits everyone it touches..... Why do people think "Rich" people are just greedy ? - I myself have a few million - a few businesses - and hundreds of other people benefit from it ---- .. 1 million, 10, 20, 100, 1000 - whatever it gets spread thru the economy and helps others...... but not by the government taking it .....

 

[madhat]

You think these guys just stuff their mattresses with it? - No - the invest - in many other opportunities - they spread that money everywhere which benefits everyone it touches..... Why do people think "Rich" people are just greedy ? - I myself have a few million - a few businesses - and hundreds of other people benefit from it ---- .. 1 million, 10, 20, 100, 1000 - whatever it gets spread thru the economy and helps others...... but not by the government taking it .....

Yes, people do benefit, but those with the money benefit way more still. Technically the person that's making $10/hr is benefiting from the investment in the company, but they're struggling to make ends meet still at the end of the day. How many times more money are those investors making off their $10/hr efforts?$10k/hr? More??

 

[TexasBob]

You think these guys just stuff their mattresses with it? - No - the invest - in many other opportunities - they spread that money everywhere which benefits everyone it touches..... Why do people think "Rich" people are just greedy ? - I myself have a few million - a few businesses - and hundreds of other people benefit from it ---- .. 1 million, 10, 20, 100, 1000 - whatever it gets spread thru the economy and helps others...... but not by the government taking it .....

RJ is getting paid a kings ransom for masdive losses and getting promised even more for mediocre returns. Just truth.

 

[TerryInHouston]

RJ is getting paid a kings ransom for masdive losses and getting promised even more for mediocre returns. Just truth.

I AGREE 100% WITH YOU.... Cant compare the Tesla money maker to the loser Rivn

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