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Unity CEO John Riccitiello is retiring, effective immediately (arstechnica.com)
submitted 2 years ago by to c/technology@lemmy.world
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John Riccitiello, CEO of Unity, the company whose 3D game engine had recently seen backlash from developers over proposed fee structures, will retire as CEO, president, and board chairman at the company, according to a press release issued late on a Monday afternoon, one many observe as a holiday.

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[–] 58 points 2 years ago* (last edited 2 years ago) (4 children)

Employees should be automatic shareholders. Ought to be a workers right by default to receive some portion of the equity they're producing.

Edit: And to be clear, shareholders win too. More companies should voluntarily structure themselves to grant shareholder rights to employees. Dumbass company ending mistakes are usually seen a long way off by line and rank employees.

But it should also be legally mandated structure, much like 401k rules exist now. I propose that all players involved are better off with such a rule, other than the (not currently rare) asshole CEOs who only want to pump and dump their stock.

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  • [–] 18 points 2 years ago (2 children)

    It's actually pretty common to provide employees with stock options. But depending on the situation, it can be a better deal for the company than the employees. For the company, equity is a relatively cheap way to "motivate" employees. For the employees, it goes against the principle of portfolio diversification: if the company does badly, not only is their regular income threatened, but so are their assets.

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  • [–] 5 points 2 years ago

    Unity employees are shareholders, but greatly in the minority compared to the executives. The C-suite is routinely granted thousands of shares while the lowly employees are given a few hundred RSUs every year, which vest over a period of 4 years. It's kinda bullshit how little equity employees by comparison, but definitely by design.

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  • [–] -5 points 2 years ago

    They receive money which can be used to buy equity, no? It’s their choice not to. At least in a publicly traded company.

    That point aside, I usually do receive stock in the company at jobs I’ve worked. Financial firms.

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