Planet Money
Hire Power (Update)
May 1, 2024
Jeff Hong, a software engineer and advocate for labor rights, shares his journey against non-compete agreements in Hawaii. He discusses the personal impact of these contracts on career mobility and entrepreneurship, reflecting on his transition from Microsoft to advocating for reform. Hong highlights the recent FTC ruling that could change the landscape for workers nationwide, and the challenges he faced in pushing for legislative change in a resistant environment dominated by big businesses. His story illustrates the fight for workers' rights and the future of employment.
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Quick takeaways
- Non-compete agreements stifle job mobility and wages across industries, impacting both signatories and field competitors.
- Recent federal initiatives, inspired by Hawaii's success in banning non-competes for tech workers, aim to address the widespread harm caused by these agreements.
Deep dives
The History of Non-Compete Agreements
Non-compete agreements, which prevent workers from joining competitors or starting rival businesses, are facing significant changes as the Federal Trade Commission announced the impending ban on their enforcement. Originating from historical cases like that of a British dyer being restricted from setting up a shop in the same city, non-competes have evolved to impact a wide range of industries, including tech workers and doctors, affecting job mobility and wages. Jeff Hong's experience with Microsoft highlights the challenges individuals face when bound by non-compete clauses.
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