I’ll just leave this here.
Comment on Nvidia is now worth $102M per employee
jherazob@beehaw.org 11 months ago
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“Are the employees gonna see a cent of this?”
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“Fuck, no!”
borari@lemmy.dbzer0.com 11 months ago
jmcs@discuss.tchncs.de 11 months ago
That is the most… American thing I read in months. Workers complaining about half decent work conditions. As a European, being harder to get hired than to get fired was always a given to me, and I believe that’s a good thing.
borari@lemmy.dbzer0.com 11 months ago
That’s Business Insider being Business Insider, yeah.
I’m super confused by this verbiage. If it’s harder for a worker to get hired than fired, doesn’t that mean that it’s relatively easier to get fired? Which is nit how it should be right?
Based on the article context, shouldn’t the worker quoted in the article be saying “It’s very hard to get hired here, and getting fired is even fucking harder!”?
Anyway I agree that it should not be easy for a company to fire workers. I think that knowing this, companies should try to ensure they’re onboarding quality workers in the first place, which would probably involve a difficult hiring process.
My read on the article isn’t that workers are complaining about “half decent work conditions”, but that workers are complaining about completely checked out coworkers. If you’re a new, junior level worker and both your manager and your Intermediate and Senior level coworkers have completely checked out, you’re probably not getting the performance feedback, mentorship, or over the shoulder exposure to techniques and procedures that are invaluable at that stage in your career.
I’m definitely reading between the lines, but I’m seeing an article where less tenured employees are complaining about that culture shift, and BI is putting their “happy, well-compensated employees bad” corporate bootlicker spin on it.
sigmaklimgrindset@sopuli.xyz 11 months ago
Brilliant, thanks for this!
I said in a comment on mastodon that I don’t think the batch of newer employees hired at Nvidia are going to have anywhere near the same compensation as the current employees will, and this kind of helps support my suspicions…
borari@lemmy.dbzer0.com 11 months ago
I just responded to someone else in another comment chain, but I agree. As I said there, the more tenured employees checking out can really block anyone new from gaining the long-term institutional knowledge they need to be successful, which either leads to high new worker turnover or an implosion when the last of the long term “old breed” retire.
floofloof@lemmy.ca 11 months ago
borari@lemmy.dbzer0.com 11 months ago
Thanks, I should have done that and forgot. I was typing up what I remembered from the article, then realized I’d prolly fuck up a significant portion of the relevant facts so I just deleted it all and searched for the article.
I have noticed that archive.is (and another tld I don’t remember right now, .ph?) links don’t want to load on my internal network that uses a pihole for dns and drops anything else dns related going out on the wan port of the router. Probably need to look in to that bc it’s getting annoying.
sigmaklimgrindset@sopuli.xyz 11 months ago
Well, they technically will see SOME cents of this because I’m pretty sure Nvidia gives employees stocks too.
But yeah, I also posted this because it’s a clear illustration of how most salaries will never reflect the value your labour brings to an organization.
teawrecks@sopuli.xyz 11 months ago
Or more accurately, it’s a clear illustration of how overvalued they are right now.
But as the saying goes, the market can remain irrational longer than you can remain solvent.
sonori@beehaw.org 11 months ago
I don’t think many people would claim overall valuation has much of anything to do with the value labor brings to an organization.
In this case I think all it indicates is just how much the company’s stock price is driven by speculation about possible demand for generative AI, and even then I’m not sure that current price per share times number of shares divided by number of employees is a clear indication of that.
sigmaklimgrindset@sopuli.xyz 11 months ago
Apologies, can you clarify what exactly you mean by this? Because when I say their labour is not being valued, I do extend that to the Wall Street orgs that are doing the evaluations. They look at the “product” on offer, not the people actually working and developing it.
Are you saying because stock prices aren’t steady, we can’t correlate that to salaries?
ringwraithfish@startrek.website 11 months ago
With options trading, a lot of stock movement is reflective of speculation rather than true value.
sonori@beehaw.org 11 months ago
I’m saying that while a companies market capitalization is a real number that can tell you things about a company, it is not like anyone involved has a three trillion actual dollars. The company doesn’t see any of that money directly unless they directly issue more stock which would devalue the current stock, though there are some other ways for a company to use it to their advantage. Investors might be able to get a small percentage of that by selling, but only because someone else bought in with an equal amount of money, and a large sell will drive down the price.
More to the point, the evaluations people are doing with Nvidia don’t have much to do with what the company actually produces and puts out into the world today, but the assumption that it can turn its current leadership position in AI accelerator chip designs into growing massively in size in the future when every company needs a large data center or two to train their own individual LLM’s.
A individual stocks price is driven primarily by what people think that individual stock certificate can be sold for in the future, and effected by things like how many people are trying to sell, adding all of those certificates up at current market price doesn’t actually give anyone involved much information, nor does it reflect the actual quality, quantity, material, or labor taken to make things, in this case branded computer chip blueprints, that a company puts out into the world.
Now there are a lot of competing theories of ways to try and measure labor’s value, but my work being only as valuable as the speculative amount my organization as a whole might be theoretically sold for as a whole in the future if no one tries to undercut anyone else isn’t one of the more popular ones.