echantech
3.4K posts

echantech
@echantech1
code stonks and snark. opinions are my own. ex-@apple @Uber engineer, account not for sale.


Introducing Dasher Tasks Dashers can now get paid to do general tasks. We think this will be huge for building the frontier of physical intelligence. Look forward to seeing where this goes!







$NVDA $PLTR $TSLA Actual cash Stock-Based Compensation costs are much higher than GAAP SBC expense. This is not because the employees' shares went up in value. The shares were not yet in employees' hands. The grants of RSUs are made with the expectation of appreciation in value, but nearly all potential upside is funded by shareholders directly through future dilution or future massive buybacks to nowhere. Companies benefit by offloading nearly all that upside from the income statement, but it shows up large down the road in the financing cash flows. What actually happens - employee grant to employee is valued at $10, stock rises to $100, now $NVDA must spend $100 in buybacks to offset the dilution from that original $10 value grant. The employee gets $90, the shareholder funds it through the buybacks to nowhere. GAAP SBC expense is based on that small initial value. Honest securities valuation would not ignore the true cash cost.






NEXT EPISODE WILL BE SPICY @EternaLEnVy1991






