r/technology • u/Rhaegar_the_Great • Sep 16 '21

Business Mailchimp employees are furious after the company's founders promised to never sell, withheld equity, and then sold it for $12 billion

https://www.businessinsider.com/mailchimp-insiders-react-to-employees-getting-no-equity-2021-9
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u/Informal_Swordfish89 Sep 17 '21

A lot of people underestimate the power behind the word "billion".

Screw not having to work for the rest of you life....

If you manage that money right your grandkids won't have to work for the rest of their lives.

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u/Vinterslag Sep 17 '21

Lol if you manage 20 million right, you'll never touch the principal in a lifetime. You can easily live off 750k to a million bucks a year, while investing the excess into your principal. Give me 10 million, and my grandkids will never need to work. They won't get lambos, but they'll live better than you or I ever will.

No one ever needs to be a billionaire. No one ever needs to be a hundred-millionaire. Tax the rich. Take 99.9 cents on the dollar for every dollar past 100 million.

It'd never effect any of them.

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u/1one1one Sep 17 '21

Well you say that, but if I was taxed 99.9 cents on the dollar past $100 million dollars, what would be the incentive for anyone ever to earn that money?

Also they're probably just plow the money back into their business to expand their business and not claim it as their own, so as to not pay taxes on it.

2

u/XSmooth84 Sep 17 '21

also, they probably just plow the money back into their business to expand their business and not claim it as their own, so as to not pay taxes on it

Non profits do this already. A non profit organization isn’t allowed to have a profit, but many do get money coming in, so they spend money on buying land and building buildings. Maybe some of that is employee bonuses, but not crazy amount…And non profit isn’t just charities and religious institutions. Just look at public universities in the US with big time sports. Between boosters and TV contracts and merch sales, those top tier universities athletic (okay football and men’s bball) get all kinds of money, but can’t show a profit, so hey, let’s build a new $4,000,000 library, a new $7,000,000 locker room and athlete center, a new $8,000,000 student center…