FTC Non-Compete Ban Can DESTROY American Businesses
ฝัง
- เผยแพร่เมื่อ 5 พ.ค. 2024
- In this video, Patrick Bet-David discusses how the FTC non-compete ban can potentially destroy American businesses. Stay informed on this important issue!
Join "The Minnect League Championship" to win a night of dinner & cigars with Patrick Bet-David: bit.ly/4aMAar8
Connect one-on-one with the right expert for you on Minnect: bit.ly/3MC9IXE
Connect with Patrick Bet-David on Minnect: bit.ly/3OoiGIC
Connect with Adam Sosnick on Minnect: bit.ly/42mnnc4
Connect with Tom Ellsworth on Minnect: bit.ly/3UgJjmR
Connect with Vincent Oshana on Minnect: bit.ly/47TFCXq
Connect with Rob Garguilo on Minnect: bit.ly/426IG0R
Purchase Patrick's new book "Choose Your Enemies Wisely": bit.ly/41bTtGD
Register to win a Valuetainment Boss Set (valued at over $350): bit.ly/41PrSLW
Get best-in-class business advice with Bet-David Consulting: bit.ly/40oUafz
Visit VT.com for the latest news and insights from the world of politics, business and entertainment: bit.ly/472R3Mz
Visit Valuetainment University for the best courses online for entrepreneurs: bit.ly/47gKVA0
Text “PODCAST” to 310-340-1132 to get the latest updates in real-time!
Get PBD's Intro Song "Sweet Victory" by R-Mean: bit.ly/3T6HPdY
SUBSCRIBE TO:
@VALUETAINMENT
@vtsoscast
@ValuetainmentComedy
@bizdocpodcast
@theunusualsuspectspodcast
Want to be clear on your next 5 business moves? bit.ly/3Qzrj3m
Join the channel to get exclusive access to perks: bit.ly/3Q9rSQL
Download the podcasts on all your favorite platforms bit.ly/3sFAW4N
Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida. - บันเทิง
I don’t know how but you’ve managed to package an unbiased analysis that is more entertaining than the sensationalized segment of economic and financial news. Thank you for your efforts to be the signal and not the noise. I understand that the economy is currently in a downturn and that we must wait for things to get better
As hard as it may sound you can plan for the recession. If you are working, find extra work and get an Invest--advisor. Protect your deposits by having enough cash in short term fixed income. Then cut your expenses. Minimal insurance, cut utilities.
I think the current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
Even if you have a humongous income you still need to draw up futuristic plans because anything can happen. One could lose one's job or whatever. Investment cannot be overemphasized. About your advisor, how does one reach pls
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Non-competes have always been trash
Are you really shocked Pat is against it. He’s an entertaining MLM scammer who fun to listen to. He’s no friend of the working man
so having a different opinion is now scamming?
@@grzegorzk5149this isn’t a different opinion. It’s his base. th-cam.com/video/v171sWqAIX8/w-d-xo.htmlsi=JnICTaWzLHTz4MJI
This is bullshit PBD.
PBD is all about the free market when it comes to the wealthy. Not for the little guy doing all the grunt work.
Hes a scammer
You couldn't have said it better.
@@camocas explain this? I’m not familiar with PBD-
i agree with the opinion, but you beclown yourself by not providing a logical argument for that opinion.
Imagine a prenup that says you can't date another person for 5 years within 100 miles of your ex... That is a better analogy for a non-compete.
Good point.
And you're a same-sex couple.
That's pretty much how divorce works for men already. Five years recovery financially and emotionally...
But that's a different subject.
I agree a persons pursuits to earn a living should not be restricted. However, I believe an employer is entitled to receive restitution for piracy. If an employee wishes to work for a competitor or choses to become a competitor. They should be responsible to pay to the prior employer the lose of revenue due to the taking of an established customer.
@@wesellplaces2796 Those clauses are in the NDA, not the non-compete... I've seen some pretty hefty "restitution for piracy" in the contracts I've seen.
Are you serious? Those should’ve been illegal from the beginning. It’s anti-capitalism, allows companies to treat their workers like trash knowing they can’t leave to a similar company, and forces workers to either stay at shitty jobs or start over by moving industries. This is a massive win for everyone who has a job.
Yeah it is
Exactly
This guy's a hack, glad ppl are catching on
This happened to me. I had a job I did from the time I graduated high school and it was all I knew how to do. My boss paid me horrible and I had no way out. I wanted to start my own thing but couldn’t because of a no compete I signed. Finally a friend got me a job that I wasn’t qualified for and I did that for 2 years. If not for that I’d still be stuck. And with inflation I’d be homeless by now. I’ll never support this garbage. It’s not like it really hurts anyone because I’ve found that 98% of people don’t have the drive or guts to start their own company anyway. So who care. Rich people I guess. They want it all for themselves.
VT is just another Trump supporting do nothing, know nothing YT channel.
Non-compete is anticapitalist PBD. No company owns my ability to work. Companies have consistently removed incentives to work for them. There are no pensions anymore, and pay has not risen to match. Yes governemnt regulation and other factors exist but the working class can win from this.
At last some critical thinking. I have seen a lot of fanboys agree to everything this guy says. I lile his content but some of his takes are bs.
So true, capitalism is great, but you need a few limits to prevent monopolies.
@@angelpayano6813same here, i like his podcast and most takes he has, but this one is a miss
This is NOT true. Companies have overreached. Hamstringing CEO's & BD guys is one thing. Hamstringing the working class is another.
PBD is a shill for corporations
😂😂😂😂😂😂 bless ur heart.
U think they care about the working class....
Thats a good one.
Hahahaha. No one gives a shit about the working class buddy.
Bruh, U did NOT say bless your heart !!! 😅😂
Workers now have less rights. The risk premium offset by those no competes is a lot bigger than people think, it will eat into wages despite the increased hiring. Information is everything in tech and engineering.
Non-compete has gotten ridiculous. Get rid of it.
Comparing to marriage is apples and oranges.
Yeah that was a weird comparison.
Exactly. If you get divorced, you can married the day after.
I’m with you…it’s used as a way to hold people hostage.
lol seriously? How dare the FTC make it easier for employees to switch jobs? Who the employees think they are? Free human beings?
It’s not the FTC’s business to make rules and laws that is Congress’s jobs.
@@landonevans7994haha, lies
Companies bully employees.
He scammed his employees, paid them below minimum wage, check out PHP Agency that he ran
It favors workers at the expense of companies. It promotes a competitive job market. The companies that compensate and value their workers more will prevail.
Most of the time a non-compete is not really used to protect a business but more to punish the employee.
I’ve been laid off twice, why should the employee be held to the standard of loyalty, but companies can leave you on the side of the road like a cheap hooker with ZERO repercussions
You can’t have your cake and eat it too
If you are going to keep someone from working at another comoany than they should have to pay the employee for that time.
You are dead wrong on this. I worked in corporate American before I built both of my companies. I would be threatend with lawsuits by former employers if I went to work for another company in the same field. There is a difference between stealing customers and IP and just competing. And companies have no loyalty to employees in Corp America so why do they have leverage
Pbd is has employees himself, off course he doesn’t like this lol 😂
PBD scammed many employees, paid them below minimum wage, checkout PHP Agencu multi-level marketing…
All across the west they have no loyalty to employees. They will fire you in a second but I have to give notice.
Good. Non compete is stupid. Have you ever heard of a waiter that cant leave where he works now and work at the restaurant across the street?
Its FORCING people to be a slave to their employer. Freedom means you should be able to work wherever you want. Freedom should mean freedom to work for who you want to.
The emotional loading of the divorce analogy is so fucked up. Imagine arguing that a person ought not look for better employment in the same industry because “you’re tearing this family apart” fucking absurdist argument. The only reason to bring this into the argument is to make people feel bad for corporations that would never feel bad about firing you to reduce cost and raise profits.
Exactly. The feds took the shackles away so guilt trips are all that's left.
I’m a lowly maint tech. I’m in a non-compete. Zero companies care about people like me. It’s all stock value and dividend pay out. But at the same time, I can’t leave. This is .005% win for the tiny guys like me that businesses careless about. I’m a 23 year guy and I’m sought after in my field, but not like I’m gonna be in that $150k area. Maybe this might a reason to actually
Care about the people their companies are built on, not just their stock value.
You're only worried about this as a business owner. NO respect for the EMPLOYEE! I had to sign a non compete with my last company then was let go a year later, meaning technically I can't work in the same field as I was in. So I've now been unemployed for 14 months and trying to get back into the IT field from material handling and because my previous job was nearly 10 years of material handling, I'm out of date in the IT field. The non compete only benefited my ex employer and I got screwed!
Listen I’m an esthetician. One of my employers tried to have me sign a non compete agreement that said a whole bunch of crazy shit like if I left I couldn’t work within 25miles of the business. If I left I would have to MOVE 25MILES AWAY TO PAY RENT / FEED MY KIDS. 🤯
That’s just one of the several different beauty chains I’ve worked for that made me sign something like that. Luckily someone eventually told me that in California that’s not something these business can enforce. If they “took me to court” like they did threaten to at one point, it wouldn’t hold up. You cannot convince me that type of control is justified in any way. If a company has a revolving door that’s because the business isn’t taking care of their people to make them want to stay. Period
Your take on this is wild to me
Non compete is sh*t.
I work for a UK Software Company that enforces this for all workers in US, AUS, and UK offices.
We are top 3 in our market niche, which means that non compete covers ALL good options out there.
I'm lucky because I have a sub-contract agreement so I can leave any moment, no questions asked. However, colleagues from UK/US/AUS offices have a ton of issues because they can't easily go to a different job. Which also means they can't really negotiate better salary effectively because they are "chained" to the company.
Actually, Patrick, you're a free market guy. Where's the FREE MARKET in non-compete?
He's free market when it suits him.
😂@@timothybogle1461😂 make sense 81% of PHP was making under $3,000 😅
@@timothybogle1461PBD a scammer …
I worked for a tax software company as a consultant. The tyrant who owned the place had a standard non compete that prevented ex-employees from working with financial or accounting software (which was about 90% of the local SW jobs) - not just tax software. I refused to sign it as is when I was negotiating with him and his brain practically melted down. I never respected that bastard.
Marriage is a terrible analogy. Marriage is a lifelong commitment. Employment is only committed as long as the moment.
If a company offered me a lifetime commitment, we may have something different.
Youre argument is equating a lifelong covenant, a marriage and a business contract? Totally bad analogy, and not an equal situation. You are not one with your company you are an employee, separate entities.
Yeah but companies like to make you think you’re a family.. till they fire your ass.
Yeah bad analogy here. He didn't think it through.
I liked the comment from this person:
@canadiannomad2330
Imagine a prenup that says you can't date another person for 5 years within 100 miles of your ex... That is a better analogy for a non-compete
Though I agree with you that it is a bad analogy, analogies by nature aren’t necessarily equal situations. Some analogies help explain a part of a thing and some the whole. I would just say that this analogy that he gave had no explanatory value which is perfectly explained in your first sentence.
Typical from this guy.
Entry-level truck drivers I've been forced to sign these agreements sometimes for 3 or more years. This enables companies to pay them below average salary..
If you got your licenses through that company then I kinda understand but if not then that’s trash.
@@oldyoung1 but what happens at that point is that the driver is responsible for the balance of his tuition. The new company commits to Paing the balance. Plus offer them a better wage. More so back in the day than now. Drivers demands are not what they used to be..
Free markets mean free flow of capital, that includes the free flow of labor. If I rent a piece of equipment to help me with construction labor, I can't turn around and tell the business that rented me the equipment that they can't rent it out to someone else after I return the equipment because it would compete against me. Non competes are overused in the market.
That’s legit a great
Analogy
Non competes from my experience has been a way to threaten employees and tie their hands while when the company doesn’t live up to the employee’s expectations. It’s like only one person in a relationship being able to divorce. This was a good call by the FTC. Companies need to do better.
Companies CAN do better. It’s a shame they are being forced to.
This is the best analogy I've seen here. Why doesn't a non-compete prevent your employer from replacing employees who don't want to leave? That would make it fair. But of course it doesn't, and any business owner or manager would laugh you out of the room if you asked for that in an interview. NCAs deserve the same treatment, and the fact that they exist(ed) shows how broken our labour market is.
Alot of the laws around marriage and children need redoing.
AMS33K has the most potential to do more than X10. ETH and BTC will most likely do a X5-X6, but that's fine for me. Gotta look for better entry points while I stake IRIS and PGEN, then wait for Polygen's next raise as I also look at their new partnership with Kenzo Ventures.
The majority of employees just want to go to a better job in the same industry, without changing career paths. Non-compete clauses are bs.
Employers will swap an employee with a cheaper option as soon as they can. Lets not pretend that their commitment is like in a marriage.
Of course a business owner hates non competes lol this is bullshit Pat, pay and respect employees and they won’t leave for the competition…..
I understand PBD's point, however, here is a real world case that I mentioned in another video about non-compete agreements. My wife was working for company A that had a contract with company B, where my wife performed her job. Company A's contract with company B ended and therfore company A no longer had any work for my wife. Then company B contacted my wife and offered her a job. Compnay A said that they would sue my wife if she took the job because it violated her non-compete agrrement, even though they could not/would not offer any salary or job for my wife. It was a completely rediculous situation, if a company doesn't want an employee to go work for a competitor, then offer the employee more money or benefits to retain them.
Nonsense. I work in an industry that uses noncomps and they are trash. If you could leave and take your business with you, it would make the employer less likely to take advantage of you. I was recently laid off and I had over 150 accounts. Not only was I not able to communicate with those accounts, I couldn't communicate with any accounts that were assigned to me! So I was employed with the same company for 20 years and within a mater of minutes, I was unable to work in the same industry unless I left the state....
YES! That’s why they are a scam, and ANYONE including Patrick are scum
As a divorced man who lost his house in the divorce I am for this rule
Exactly that didn’t make sense it would have if they said you can marry a woman better than me till I find a better man or you leave far enough and wait long enough 🤣🤣😭 that’s what non competes are you have to still follow what your ex employer says outside of the workplace when he had no right when you were an employee to say what you can and can’t do outside the workplace I mean this shit tells on itself you read a little and your like damn that’s a stinky diaper we need to change that 😂😂
Pdb the definition of a shady car salesman.
Non-compete clauses were abused. The industry was left unchecked. Since they didn't check themselves, the government stepped in.
You had sandwich companies not letting minimum wage workers take jobs from other sandwich companies.
PBD didn't do his homework as to how non-competes were abused. I really don't want to hear from someone who refuses to educate themselves on the problem with non-competes. He just cares about what affects him. Fair enough. Don't be surprised when people bring a ruling down that don't care about your interests.
I normally agree with PBD, but this was a shit take.
If 1 in 5 people have signed a non-compete it really means this clause is being abused a lot and used for other purposes. For sure a ban will allow people to change jobs easier but this should make employers care more about key people in their organization.
Excellent point
Your marriage analogy is deeply misleading. Someone agreeing to work `FOR` a company and someone agreeing to partner `WITH` another person cannot be equated.
Exactly! Like wtf is he talking about marriage and a non compete have nothing to do with each smfh
From what I understand the biggest jump in wages comes from moving to another job. This will help American's increase their earnings.
Its up to the company who currently employs them to give them incentives to stay, not tie them down to a contract.
One of the biggest issues is employees not seeing a return in their wages and benefits in relation to an increase in their productivity.
I think this is a good step that helps most Americans earn what they're worth without giving power to unions.
This entire topic just reminds me of a quote, "There is no greater slave than the slave who thinks he's free" (speaking on the position of the employee).
Power to the People..... Learn to out innovate
That's the problem: Employers innovate and create things that are unique and valuable within their industry....and now company B can just simply solicit those employees and pay them a little bit more to get them to jump ship and come work for them as long as they provide company A's secrets. And if you think that good for the employee - there is nothing stopping the Company B from just firing you once they get the proprietary information about Company A from you. And now you have lost both jobs.
Freedom over corporate greed
My girlfriend has been an estitician for 4 years and because of this she is able to go on her own she opens at the end of this month and already has 30 clients booked!!
Yeah, this just means that you can now leave a crappy business and go direct to their competitors.
Only people who lose are crappy managers who can't retain employees.
I believe AMS33K will conservatively hit $5.00 by 2025. That's a 80x return from it's current price with very little downside. I'm buying all I can.
I have a shitty job, my employer has made my job more difficult for less pay. Everyone whos left has been threatened by non-competes and taken into litigation.
Its a free marketplace! if I want to quit, I shouldn't be forced to change careers.
I rarely disagree with PBD, but non-competes give the employer the ability to mistreat their employees knowing they can't can't go anywhere. I'm a graphic artist, and I had a past employer that made me sign a non-compete that said I couldn't work for another company doing graphic design in an undefined geographical proximity to the company. It basically made it impossible for me to do find another job in the area in which I lived. They're often too broad, and ambiguous on purpose. I'm glad their gone. Oh, and I am an entrepreneur who started his own company saying this!
Non competes are not free market.
I can understand how a company would want to protect the time and money they may have spent to train an employee and they want to be protected with a non compete. But it's also unfair to keep someones skills they have developed from reaching the marketplace. A non compete stops the employee from making money and keeps valuable skills from the marketplace.
PBD then says “some people say non-compete is not a good thing” then lists 4-5 arguments that people in favor of non-compete use.
PBD is in full blown propaganda mode with this one. He wants you to believe that those in favor of greater employee mobility are for non-compete. While saying those who’s priority are trade secrets and intellectual property are against non-compete.
That’s some crazy shit right there with that attempted bait n switch
I tend to agree with you, but the problem is companies use that to take advantage of their employees. Pay them what they’re worth hospitals r notorious for this
This should have been banned ages ago. Its pure digusting greed.
There is no argument period. Anyone who is saying this ban is bad is a parrot for corporate greed or is a greedy exploiting business owner.
I was shocked this ban was even needed. Shameful
There were already several laws that limited the scope of Non-Compete agreements; they were always very hard to enforce and often had a very limited scope. Without Non-Competes though it allows any business to poach employees from any other business. While you as an employee may say 'So what? That's great' - But it will effect employees too: If I want to steal proprietary information from a competitor all I need to do now is tell some valuable employee from one of my competitors that I'll double their salary. They then come to work for me and in the first week I sit down with them and have them write down as much info about my competitor's processes and sales tactics etc as they can recall. I then immediately fire that employee the following day once I have the info.
@@RFdaniel I have seen stories about low end jobs enforcing non compete. But ty for the kind informative comment
The issue isn't the 6 figure worker. It's the vulnerable non wealthy uneducated who can't afford to deal with this. People would literally leave town or state cause of this
So I am sorry the US has been and always be a country that preys on others and it's own people
War profiterring, Healthcare costs, and education being completed by a third of your people
Without you prolonging the ukraine war your country would have went into a recession during covid
@@RFdaniel and saying banning non competes affects intellectual property is the funniest excuse. Haven't you heard of uber engineer who stole a bunch of secret info and put it on a flash drive. Or how countries I won't name pay people tons of money to come live there and take their knowedlge.
Non competes will never stop ip theft. Grow up. Tons of ways to leak info these days. Havent you heard of wiki leaks lol
You think non competes or law stops leaking things then you live in a dream world
Goodbye
@@RFdaniel the Non-compete ban does not effect intellectual property. Non-competes still apply to IPs and other highly sensitive information like PBD said in the video. It's the low end jobs that will be the most affected by this ban, and makes the most sense.
@@Car_FanaticI get what you are saying, but Non-competes are generally designed for higher end, salaried positions. Non-competes sound bad from the basic idea of them, however prior to this ban, NonCompetes were only enforceable if the employee was going to work at competitor AND the work they did would harm or take proprietary knowledge from their old job. So a for example: Someone working as a cashier at wal-mart can not be prevented from going to work as a cashier across the street at Target....BUT if you worked at walmart as the guy who developed & wrote the software that the cash registers run on, THEN a NonCompete could have prevented Target from hiring you to write the software for their cash registers (usually only for a period of 12 months in most states). Non-Competes have never been enforceable on just working at a competitor, or in a similar position. Its always been based on taking unique, proprietary information from one employer and then going to a competitor and providing them with that "secret sauce".
If you can't keep your employees wanting to work for you, then it seems anticapitalistic to force non-competes.
I phones are garbage. They are not the best phones out there.
Patrick as a professional who has worked in IT for 30 years, noncompete clauses only ever protect businesses at the detriment of the employees.
The job of a business is to make money within the rules and regulations of the government in which it operates.
The role of the government, is to protect the people from hostel entities foreign and domestic.
A noncompete is simply a money, saving opportunity for companies in collusion with other companies to create a payment band system, Therefore eliminating the ability of employees to actually compete in the marketplace for better pay. All you have to do is look at IT salaries over the last 20 years…
I agree with banning non-competes. They got as far as sandwich shops using them! A SANDWICH SHOP! They ridiculous! There should be more competition in emerging technologies and energy! I totally agree with it there! There shouldn’t be an Amazon of tech and energy. I also think big monopolies like Amazon, google, etc should be broken up! And data collection should be banned
He gives those examples to say why the sandwich shop needs them no company SHOULD BE ALLOWED TO STIFLE COMPETITION THATS NOT CAPITALISM and we sum how said yes EMPLOYEES WHO SEE WHERE THEY CAN MAKE SOMETHING BETTER FOR THE POPULATION THEY CANT BECAUSE THEY WORKED IN THAT FIELD they want no competition from employees they want employees to stay that and never get together and make better products or companies that’s worse than unions to them they’ll rather have a unionized workforce than to have actual competition with people that have seen where they can better an industry
I'm a sales rep and it's clear that at a corporate and management level they are quicker to beat you down knowing that you're tied to a non-compete. Getting rid of non-competes could force the higher ups to think about making the company their employees work for more attractive and would strive to keep their employees.
Bro these companies don’t invest in you as it is, so why would they give a shit if you leave? I’m literally teaching myself how to do my own job through trial and error and Google.
NDAs are more than sufficient to protect an employer from losing trade secrets. Non-competes cripple the economy and stifle growth. If a company wants to retain an employee, they can pay more or risk losing the employee to a competitor that provides better benefits, pay, and work environment. Or the employee might start their own business. That is how capitalism works. When entire industries use non-competes, it prevents this and truly does create a monopoly, which prevents new employees from being able to avoid signing them and stops employees from leaving. Perhaps the employer has a terrible manager or supervisor that HR or even higher management doesn't discipline or remove for whatever reason. The only effective way for the employees to get their message across becomes leaving for a better work environment. PBD, you are thinking like a dictator when it comes to non-competes. The marriage comparison is horrible but if you want to use it, here's how dumb it is. A significant number, if not majority, of marriages struggle as a result of financial problems. Under your argument the employee should stay with a company when they are treated like crap or undervalued due to a market controlled by non-competes. This in turn causes undue stress on the employee's health and marriage. The married couple continues to struggle with one parent working so the other parent is able to raise their child. However, the bills start coming in for medical issues as a result of the crappy health insurance offered by the employer. The couple falls deeper into debt and more and more arguments as the parent that works cannot find a new job that pays better and offers better health benefits. Eventually, the parent not working calls it quits because the stress and arguments about bills and debt is too much. Or perhaps the parent working goes and gets a second part-time job and then is never home to spend time with their partner and child. The partner becomes disconnected, unloved, and so on until they leave the partner working two jobs.
Time to sell your kidneys and go all in for AMS33K 💎👊
Shocking. PBD against the working man. Good grief
Here's my take on non-competes:
Anything that can be of financial concern to a company you exit has to be preserved, protected, and is considered their own IP/property, yes.
Non-competes historically have been used to ensure that for a set period of time, nobody could go to work for another corner of the same industry, and risk using anything that could be of benefit to another company that could damage the prior one. Usually, a full year was enough because a year later, any potential information would be aged and likely not worth a thing to another business that the prior one had.
But here is the thing, too: You're forcing someone who leaves Job A, who has all this experience, training, feedback, capability, to be kept from continuing that work in a Job B where it would be most relevant. You're cutting in on the person's livelihood by hindering their ability to work and make a living.
As I said, the ONLY concern that a company should have is when information that is exclusive to them is used by a competitor to leverage a drop in business. But how do you know that will happen? You have to wait for it to happen. If one of your employees leaves, goes to work for a competitor, and all of a sudden has taken some of your business away, then you could potentially leverage it into a lawsuit and claim that this employee damaged your business with what they know.
If it's getting an inside scoop on taking a client, or a stream of revenue, away from one company, and having next company leverage it to then profit and grow, and the timing correlates with one specific employee...then there's a case. On the other hand, nothing happens. The employee goes to work for the competitor, they get an employee they pay more to hire on with, and things continue on as normal.
Non-competes, to put it simply, have their benefits and their drawbacks. But the only time that there should be legal action is when there's sufficient evidence and cause that an employee working for a competitor legitimately damages a company's bottom line (hurts them financially). Otherwise, let the employee have the means to continue working with what general knowledge they know, training they have, experience that they have.
non competes are garbage ... they should have been banned a long long time ago. Don't want your employees leaving to a competitor? pay them more, give them better benefits or treat them better.
I was under a non-compete. Left that organization & went to work for a competitor. Went silent on social media for 2 years.
How was my previous employer to know that I was working for a competitor? They had no clue. Now I compete directly against them as an owner.
I think non-competes are terrible for any employees below any managerial positions. especially when fewer and fewer companies give any business stack incentives to employees, companies have been pulling incentives from people for decades. companies constantly add workload to employees without compensation increases which just makes them want to leave.
PBD your marriage example is absolutely terrible. Men and Women are not “employees” of their partners. This is mentally of a shallow, materialistic person who sees marriage as just a “business” relation. Bottomline, employees love this, owners don’t.
Terrible argument. Executives and higher level managers leave jobs for better jobs all the time, but GOD forbid the average individual contributor tries to leave for better wages and conditions.
I had non compete that expire 2 years after my resignation now I get engaged with the company that used to subcontract me through a third party company and not have to share my income!!!
It's simple. if an engineer is valuable enough, you have to pay them to not work in their field of expertise if they no longer work for your company for a period of x years. Pay to play.
This tells a lot about PBD . You can’t leave his MLM scheme and start your own MLM scheme .
Isn't it about time that employers have to pay attention to employees and foster them so that they stay instead of treating employees as discardable?
*This administration has no ideal how we Americans are suffering. I feel sympathy for people with disability. A lot of families are financially struggling to survive, yet many are sleepwalking...imagine investing $2,000 and receiving $10,450 in 4days.*
Considering the current economic situation, my main concern is how can we generate more revenue? We cannot afford to see our people's savings crumble into dust
That's awesome!!! I know nothing about investment and I'm thinking about getting started. What are the strategies?
I'll advise you to work with a financial advisor... Because In this current unstable market, it is advisable to diversify while retaining in secure investments, looking
at your budget, you should consider financial advisor
*Please As a beginner what do I need to do? How can I get started, on which platform? If you know any please share. I'm new at this, please how can reach her???*
*SHE'S MOSTLY ON TELEGRAMS APPS WITH THE BELOW NAME*
I’ve seen friends get locked out of their career because a greedy company wanted to retain cheap labor and abuse the employee knowing the employee couldn’t move or find employment elsewhere where away from the hostile work environment. Employers have abused this non-compete clause in industries that have no good reason to have a non compete clause. The FTC made the right call for employees, and I commend their decision. If companies need to protect trade secrets, they’ll have to find another way besides the sudo-servitude associated with non-compete contracts.
I believe what you said, deliver as a boss and you won't have to worry.
Rare PBD L. Non-compete agreements are a hinderance to the functioning of a free market
Imagine Non-Compete went to US soldiers and when they left military service, not allowed to work for a private security company.
PBB is full of shhht.
Best Change Ever.
Non-competes are an anchor on competition.
Just a way to drive down salaries and prevent startups.
Sorry but that’s a stupid analogy. Your job is not your life. You’re thinking like an entrepreneur and are totally biased. I’m also an entrepreneur for 30 years, but some of the non competes now are ridiculous. In several countries you cannot prevent employees from practicing their trade or profession with another company. That’s actually good, although as an entrepreneur, it’s a double-edged sword. Some countries allow a limited time period in a specific niche or industry, like two years, but not total non compete. For example, I had a full service ad agency and tech company, but our focus was outdoor sports, so I had a non-compete that said they could not start up a business targeting outdoor sports, specifically hunting, shooting, military/LE products, or work for another company targeting that niche. There were also non-hire and non-solicitation provisions, so a client could not scoop my designer or vice versus, but I definitely could not prevent them from leaving to start their own agency or work for another. That would effectively be taking away their ability to practice their trade. And as for the wife thing. A marriage is not even close to a business with employees. It’s a partnership based on love and family values (hopefully) and it’s rarely an equal one. Employees usually Donny even have a stake or claim to the business, nor does the business owe anything to the employee outside the agreed upon trade of money for their time and skills.
Most non-competes are not enforcable anyway, just a scare tactic for those who don't know better.
Exactly. I was working in sales and my contract was 40+ pages. Luckily I knew that items in this contract were not enforceable.
As a business owner with 150+ employees, we have never and would never have anyone sign a non compete.
I’ve never liked that rule. Be more cautious who you hire and find ways to keep them.
If comparing to marriage, it would be more accurate to say the husband can treat his wife like shit, and if she decides to leave, then she isn’t allowed to date any other men for at least two years. That’s what companies are doing to their employees these days.
Ending noncompetes is long overdue.
Silicon Valley is in California, where noncompetes have been unenforceable for years. If it didn’t stop them, then the worry this will be bad for business is nonsense.
I work in sales. I have to jump to an entirely new field every time I want a new job. I am currently stuck at a company for this reason. They don’t pay me enough to cover my bills, and every other company in this field offers more cash. I love the field I’m in and don’t want to jump into something else. I’m tired of being stuck. I love that they are giving me freedom from companies that don’t care about the worker.
If only we lived in a time where ethics prevailed. Now that they're all but gone, it's every man for himself.
This narrative of "well, the mid-level exec will just leave the business and take all the clients" never plays out in reality, so I don't know where it comes from. If your competitor is competing for better business, then they should take all of your clients... that's how competition works.
Non compete is anti capitalism
I bet PBD MADE his boys signed one.
That's why hes making a case for it as if its complicated
The only situation where non-compete contracts make sense is in situations where someone works for a firm that is representing the buyer side of a transaction, then in the middle of negotiations switches to firm on the seller's side of that transaction. In that very narrow situation, a non-compete clause makes sense.
Meanwhile, it doesn’t affect the monopolies already in place. That’s the important part.
I work in the service industry, service technicians use the company’s equipment to poach clients, use inside information to undercut prices. It affects the whole company
This is good for American workers and consumers. Businesses have abused non-competes for years.
The ban is a great step to empowering the employees. So many companies have stopped appreciating their employees by just dropping them in the grease and replacing them with cheaper inexperienced people after years of employee loyalty. Employer Employee loyalty is a thing of the past in most cases and to combat that, banning non-competes is necessary.
It's nice to follow PBD because it's easy to agree with his values until you realize he runs a sportsbook called insurance and gets to be the guy at the top who wants whats good for the guy at the top.
The bettors/policy holders are disposable and his audience is far more likely to be a policy holder
He's an out of touch CEO who knows that premiums would be worth more to most people invested and rolled over.
This is why it’s important to keep in mind that PBD is a CAPITALIST not a POPULIST. He is above all a salesman, and business will always be more important to him than the needs of the people. At the extremes, theres not much of a difference between capitalism and communism in how they implement themselves. Both rely on propaganda. To “sell” is to manipulate to ur advantage. It isnt communist governments that are causing the woke explosion in America, its the biggest capitalist companies in the world.
Non-compete is a stupid idea to begin with. Companies were practically using the law unfairly to restrict employees' choices. I'm pro business in almost everything but this is not it man.
Even if the FTC gets rid of non-compete- there are still non-disclosure agreements and intellectual property agreements. Even if the person leaves, they can disclosure proprietary information.
I've been hurt by non-competes.... I had a 2 year and when I finally got back to my old customers I could only retain less than 20% of them.
Starting a job and signing a piece of paper shouldn't cause me to not be able to change companies at any time. These agreements are incompatible with freedom.
As someone who has been bound to a do not compete with my company for over 20 years which has in some cases prevented me from moving to another company due to stability issues in my own personal finances and the concern with having to quit and then apply with another company I look at this as a positive thing for the employee side of the house!
I mean I do get that from a corporate standpoint this could feel unstable but at the same time from an employee standpoint perhaps that encourages the corporate side to be more considerate of their people as people and not just as numbers!!
Strongly disagree. Comparing it to marriage. If your marriage is broken and you can find a better person that will increase your morale, drive to succeed, builds you up and overall takes care of you compared to your current marriage which is the total opposite then why not leave? Same concept. Divorce and taking half of what the man owes or the other way around has never sat right with me. Obviously both scenarios between business and marriage are not necessarily the same but similar to an extent. A company wants to pay me 70k but market says I'm worth 110k why can't I move on to someone that values my work in the field I have worked in my whole life lol
Non competes usually come with compensation. The fact that people are doing non-competes without compensation is absolutely ridiculous. In New York state, you cannot do a non-compete unless the person is making over a certain amount of money.