The FTC announced today that noncompetes are now banned. This is a big move and will have widespread positive ramifications. One of many reasons California prevailed as a tech/startup hub was the lack of non-compete enforcement by law. Employees could always jump from startup to startup or start new companies.
This is great news, Sriram!!! Thanks for bringing this to our attention.
Non-competes are a tool of the tech "warlords" who parasitically suck off the hard work of any one they can. They use non-competes and lawfare as weapons to gain monopoly positions that only benefit them. Society overall is the loser with non-competes.
They should finish this job and completely eliminate non-competes, unless a person is directly paid to not compete (the same wage they currently receive for the term of their non-compete) or if it involves the sale of a business where they materially benefit. Same concept. If you want to keep someone off the market, you should pay them a fair wage to do this.
This is great news, Sriram!!! Thanks for bringing this to our attention.
Non-competes are a tool of the tech "warlords" who parasitically suck off the hard work of any one they can. They use non-competes and lawfare as weapons to gain monopoly positions that only benefit them. Society overall is the loser with non-competes.
They should finish this job and completely eliminate non-competes, unless a person is directly paid to not compete (the same wage they currently receive for the term of their non-compete) or if it involves the sale of a business where they materially benefit. Same concept. If you want to keep someone off the market, you should pay them a fair wage to do this.