The Blind Ambition with Jack Kelly

Jack and Rick Take on Nvidia's Millionaires, Golden Handcuffs and Stock-Based Compensation

Sep 6, 2024

A recent poll reveals that a staggering number of Nvidia employees consider themselves millionaires, thanks to soaring stock prices. The hosts dissect how stock-based compensation works, highlighting the allure—and stress—of long-term grants. They also explore the culture at Nvidia, where many coworkers are rich, and how this impacts workplace dynamics. Plus, they take a psychological dive into the effects of financial incentives, examining the mental toll of 'golden handcuffs' and the tough balance between wealth and job satisfaction.

25:26

Creator website

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Many Nvidia employees identify as millionaires largely due to substantial stock-based compensation from the company's skyrocketing stock prices since 2019.

The concept of 'golden handcuffs' illustrates how stock vesting periods compel Nvidia employees to stay with the company, often at the expense of their work-life balance.

Deep dives

Nvidia Employees' Impressive Net Worth

A significant number of Nvidia professionals report substantial net worths attributed to stock compensation and high salaries, with approximately 76% identifying as millionaires. Among these employees, about 14% claim their net worth is between $1 million and $3 million, while 44% indicate they have $10 million or more. An additional notable finding is that 37% of Nvidia workers believe their net worth has reached $20 million or higher. This wealth accumulation highlights the financial advantages prevalent in the tech sector, particularly at a company capitalizing on AI advancements.

Intro

1min

The Wealth of Working at Nvidia: Stock Compensation Insights

3min

Wealth, Work, and Woes in Tech

6min

The Psychological Impact of Stock-Based Compensation

11min

The Psychology of Employee Incentives and Work Culture

3min

Jack Kelly and Rick Chen react to a viral Blind poll that found that 76% of Nvidia professionals claim to be millionaires, and 33% may have a net worth of $20 million or more as a result of Nvidia's incredible stock price appreciation since 2019. Rick reveals how much stock you might have gotten depending on when you joined Nvidia.

Rick explains how stock-based compensation works and why employers have set up stock grants to unlock over long periods of time. We look into how companies purposefully try to create golden handcuffs and lock in their employees. Jack explores what it might be like when many of your coworkers are millionaires and what Nvidia's work culture is like.

https://bit.ly/blind-podcast

https://x.com/FilledWithMoney/status/1807020496677957931

https://www.forbes.com/sites/jackkelly/2024/09/04/nvidia-employees-become-multi-millionaires-but-at-what-price/

https://www.bloomberg.com/news/articles/2024-08-26/what-s-it-like-working-at-nvidia-you-may-get-rich-but-work-remains-stressful