this post was submitted on 07 Sep 2023
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I know an even better way for them to save money. Anthony Wood, the CEO, gets like $20,990,000 in total yearly compensation. Like most these fucks most of it is non-salary, so they don't pay taxes on it right away if at all.
I fell down the internet rabbit hole. He gets 1.2M in pay. No bonus and no stock award. The rest are options. Last year he has sold 400,000 shares worth $69M. The year before he sold 1,950,000 shares worth $690M... Looks like he had a scheduled sale of 80,000 shares every 2 weeks. Which had been worth about $25M every time. It looks like he stopped it when the same sale started pulling in about $11M. So yeah, assuming a generous $500k fully loaded employee cost, they cut $150M in HC. So canning him would save about 40 jobs. And he'd still be a billionaire.
I think you touch on the real issue, and it's where the wealth of a company is created. The cashflow and operations is one thing, the investor money is entirely another. People in the company don't benefit from the investor capital nearly as much as the senior leadership does. The takeaway is how fundamentally broken the economy is right now as investment is wrecking how we do business. "Publicly traded" my ass. I get that companies need capital, and the VC money is one thing, but when we see shit like this it paints the picture of an established company getting enshittified to satisfy late game investors that act more like a parasite than anything else, and undermines the prosperity of business itself.
Absolutely. Roku probably would be doing fine if they stuck with the cute little TV boxes and didn't have to keep making growth targets for the parasites. That drive for constant growth has made their core product suck more too...
Having used Roku stuff recently, and helping family out with their new shiny Roku tv's, I couldn't agree more. You took the words right from me. They enshittified bigtime since the days people genuinely loved using their products.
Roku tv interfaces are still better than vizio and even samsungs slower advertising interfaces.