“Many of the people Bloomberg quoted said they worked seven days a week, often well past midnight.
One said she spent her days attending as many as 10 meetings, which often involved loud squabbles in front of dozens of colleagues. There seems to be no limit on how many direct reports one manager may have. The founder and CEO, Jensen Huang, who has publicly touted the virtue of suffering for one’s work, has 60.
In exchange, you get to be rich, possibly very rich, thanks to your equity in the company. It’s a common Silicon Valley compensation model — young companies that are light on cash but brimming with potential can attract talent by promising shares on top of a salary, giving each employee a personal incentive in its success. It’s worked especially well for Nvidia, a 30-year-old tech company whose specialized chips now account for 90% of AI-related chip sales.
But… Nvidia has shed 20% of its market value since its June 18 peak, thanks to a confluence of factors: nerves about the strength of the US economy have fueled a broad tech selloff, and investors are getting tired of waiting on AI companies to prove they have honest-to-God products.
But as the chip maker’s stock slides, Golden those handcuffs could lose some of their luster.”
https://www.cnn.com/2024/09/05/tech/nvidia-stock-falling-nightcap/index.html
Expect long hours, screaming-match meetings, a CEO who believes he should “torture” his employees into greatness …your standard tech startup-turned-juggernaut nightmare… Nvidia, the nearly $3 trillion AI chip maker, is well known as a “golden handcuffs” employer.
byu/BikkaZz ineconomy
by BikkaZz
10 comments
Golden handcuffs? The correct term is “long-term incentives.” Or LTI. There’s also STI, short-term, which typically pay out within 12 months.
And they can make you (and me) very wealthy.
These jobs can also be very demanding.
If incentives and demanding jobs are not for you, then just find a different employer. The government is hiring and the workload is about half what the private sector expects.
There are so may great jobs to choose from!! Didn’t you hear? We’ve created 19 million new businesses thanks to the economic stewardship of Biden & Harris!!
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If you want to compete , you put in the hours.
Why am I seeing yet another article about this? So Jensen Huang is a demanding boss who works his employees’ asses off? That guy has single-handedly made a metric shit ton of people wealthy beyond their wildest dreams. That’s the trade off. Don’t like it? Quit and find another job, it’s pretty simple.
lol this thread is something. 10 meetings a day where people squabble is comically basic operating procedure in most places depending on your role. Silicon Valley “problems” come with a silicon valley pay. Shit I do more meetings because my role calls for it and my stock is down 40% from the pandemic.
The stock price is also heavily manipulated by meme stock illegal naked short sellers to maintain their margin.
One second commies be whining a company isn’t paying enough. Next second commies be whining another company pays too well. Go to Venezuela, commies, and live your dreams.
lmao keep crying, not a single person can grow without going through some suffering
Maybe a little luster. But 80% of 3 trillion is still like substantially more than I have.
Aside from the lack of competition limiting a greater diversity of employment opportunities (which the chips act will probably improve), and the general threat of destitution that haunts the american dream, I don’t really have a problem with this.
I wouldn’t want to work there. And I doubt that approach is as effective as they seem to think it is. But it is still amazing what they achieved, and if you thrive in that environment they are definitely making meaningful contributions to the world.
If the world started from zero now’s the only human alive bro, I wouldn’t have this kind of man mantra or mentality that this b******* has in this article. Same thing with everyone. I mean it depends on the person right in this world. The top 1% win because they’re so ambitious they will kill everybody and so their rules better. That’s that’s all. It is so if God came down here and freaking destroyed all the humans and told them that’s the wrong way to live then that’s the right way to live because people accept the reality they are told and they accept the rally that is given to them. Duh doesn’t matter if you worked hard. You could have still become successful. Who would just take longer right? The end game is the same thing. How fast do you want to do? It depends on how much you want to kill people like if I wanted to make a game I can make the game in one year. Sure enough. But I could also take my time and make the game in 5 years. Actually it doesn’t f****** matter. This article is stupid
Speech to text sucks come on AI, maybe if you worked hard speech to text would actually work correctly