[liberationtech] Tech Industry: Hotbed of Union Organizing

[Don Marti]

begin Yosem Companys quotation of Sat, Nov 23, 2019 at 06:56:47PM -0800:

> Bigger companies have a legion of
> contractors who don't see the lavish benefits of full-timers, creating a
> world of "haves" and "have nots." And gig economy platforms have stripped
> some workers of rights and benefits.

For companies that are still private, another factor
here is a change in how venture funding works.

It's obvious that companies are staying private
longer, and that almost all exits are by acquisition.

What hasn't been obvious to employees is the terms
under which capital is raised. Some investors insist
on terms that give them a guaranteed payout when
the company is sold, which ends up making employee
stock worthless. (Employees are "at the bottom of
the preference stack")

  https://angel.co/blog/liquidation-preference-your-equity-could-be-worth-millions-or-nothing

This is now becoming more and more clear to people
as they experience it or see friends going through it.

A classic Silicon Valley strategy was to trade equity
for labor peace.  The more tricks that management
pulls to get out of their side of the bargain, the
less well it's working.

-- 
Don Marti <dmarti at zgp.org>                   
https://blog.aloodo.org/
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