Cruise automation becomes startup again?
Is cruise automation after SoftBank investment on the way back to startup mode again? Would love to hear some intel.
Cruise is cruising for that paper playa. Talking fat stacks yo. What’s the best way to make fat stacks of benjs? Riddle me that applestilkins.
No more candy for you. Go to bed
Wtf is up with this Cruise Automation shit? Nobody cares
Exactly. Just leave us alone with our robot cars
They don't want to pay extra $$$ to hire/retain talent. instead they want to transfer all risk to the employees. of course whenever there is a risk, there are rewards* *- conditions apply. I would rather have $$ in my hand rather than have overvalued private company stocks. They are already valued at $10B.
I don’t get it. Employees get liquid stock I thought
Based on what I read on blind, Cruise is no longer offering GM stocks. Cruise is spinning off as an private company where 80% is owned by GM and 20% is owned by SoftBank. All existing/new employees will get stocks of a private company. Hence the stocks are not liquid.
After Cruise was acquired by GM, the equity part of the employees’ comp is paid in cash, of which the amount is tied to GM stock price. This arrangement will continue for another year or two or three after the SoftBank investment, before certain internal goals are achieved. The equity comp will switch to private stocks of the new company afterwards. Overall, I think this is a good arrangement for employees. Essentially, all employees will still have real $$ for the high-risk period and hopefully stocks with strong up-side when the technical uncertainty is at a much lower level.
They are offering equity of new private company to new hires. So may be only existing employees would still have GM stocks. New employees would get private equity from day 1.
Is the new equity liquid at all (annual buybacks)?
Why? What does that even mean