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Facebook Details Executive Salaries, Bonuses
An anonymous reader writes "Facebook has detailed the pay of 27-year-old Facebook co-founder and CEO Mark Zuckerberg as well as four other executives. These are people who are set to be billionaires at least on paper when the company goes public as part of its $5 billion initial public offering (IPO). All five individuals are in line for annual target bonuses of 45 percent of their salary plus other base wages. For Zuckerberg, the bonus could amount to roughly $225,000 this year, based on his annual salary of $500,000."
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It's a great free app that I can choose to use, or not to use. It has brought me in contact with people I haven't talked to for decades. I hope you become fabulously rich. I also hope that Facebook doesn't engineer itself into oblivion before an alternative comes along...
For in politics, as in religion, it is equally absurd to aim at making proselytes by fire and sword. - Publius
Those cynics are idiots. His dividend/capital gains are going to be the same whether he has a salary or not. So yeah, he'd have to pay more taxes if he made more money, but he'd... wait for it... make more money!
The cynics are right in cases where the employee takes a salary cut but is instead compensated in some other way which is taxed at a lower level.
W..w..W - Willy Waterloo washes Warren Wiggins who is washing Waldo Woo.
Public education for him and his employees. Infrastructure to help him and his employees get around and provide them with the electricity needed for their work. Safety and stability so that he doesn't have to pay millions of dollars in protection money to organized crime. Safe, plentiful food and clean water, so that he didn't die as a child. Clean air, so that he doesn't have horrible respiratory illnesses. Social safety nets so that he could take risks without fear of dying in the gutter if he failed. And so on.
Nobody gets where they are alone. Everyone relies on the society they live in for support. That's why you don't see people like Steve Jobs or Mark Zuckerberg coming out of Somalia. Unfortunately, it's now become commonplace to deny this obvious truth, because "Greed is Good", at least in the minds of the greedy.
"Capitalism doesn't work without strong property rights and an equal rule of law. Somalia has neither."
It's only the Somalia *does* have equal rule of law, in fact a single law, "the one on the right side of the AK-47 commands" and *does* have the strongest of property rights, just try to take off the AK-47 from the hands that hold it from the right side.
It's only ridiculous to claim that Somalia doesn't enjoys the benefits of capitalism in its purest form.
When people make my entire retirement savings (me+wife working for 30 years) in a weekend, I wonder why I bothered doing science. Clearly, I was in the wrong line of work and the world changed out from under me.
Sorry, but gray text on gray background is making my eyes bleed.
That might make it a pretty dreary work environment. That office party you throw for every 10th/100th product you sell, that christmas party, that free lunch fridays are all unnecessary to the core function of the business. So they'd be taxable benefits, so who would do any of it? Treat your employees like drones, and you get drones. Germany up until relatively recently even let bribes be a deductible business expense, because well, that's the cost of doing business a lot of places. I think you lose a competitive edge if you can't wine and dine other guys, and there really is a lot to be said for having semi-casual business discussions.
Don't get me wrong, I mentioned it because it is abused, but there's probably a legitimate case for business expenses to include treating your people and customers like more than just drones.
I mean no offense to you or your line of work, I am in the same boat. I followed. I am happy where I am at. I know where I want to be and work to get there.
Just like there are superstars in sports there are superstars in business. Whether they bring new products or innovation matters not, their drive is wholly different.
Now I know some will write it off to luck and yes, there are many cases of luck. Guess what, you don't get lucky not doing. You get lucky by trying, in some cases over and over and over.
Look at it this way, I would rather live in a system where there are untold riches for those who succeed. He isn't some politician deciding from up on high the winner or losers. He is deciding for himself and there are hundreds, if not thousands along for the ride. He created something many people value.
Some need that mythical pot of gold on the other side of the rainbow, others just feel the need to do. Which is he? Hell if I know. I don't have the drive but am quite happy to be in their world.
* Winners compare their achievements to their goals, losers compare theirs to that of others.
You are correct, but I imagine that what you do creates less value and is less unique than what they do. We're not paid by how long and hard we work, but rather by the combined perception of how much value we provide and how hard it would be to replace us. Is it always fair? No. Is it always unfair? Also no.
Absolutely. I purely take exception to the story that we're rewarding risk taking and hard work. We're not. We don't reward those things. We reward success in the marketplace, and that's it.
"Who is the Journal of Quantum Physics going to believe?" --Stephen Hawking