Apple arrogantly “sprinkles money” with 200,000 US dollars to keep people: to prevent Meta and other Metaverse upstarts from poaching

Apple steals people

The boss will only draw pie to keep employees? Recently, Apple has once again made a big deal, targeting top software and hardware engineers

Engineers poured out $200,000 just to ask employees not to quit.

What is the most expensive in the 21st century? Talent!

Apple arrogantly "sprinkles money" with 200,000 US dollars to keep people: to prevent Meta and other Metaverse upstarts from poaching

If a company wants to prosper, the only thing it can rely on is to continuously manufacture innovative products and provide high-quality services, and all these rely on talents.

As far as Apple is concerned, if it wants to maintain its dominance, it must continue to absorb first-class talent.

But it’s useless to draw a pie for the employees, Talk is cheap, show me the money!

Apple arrogantly "sprinkles money" with 200,000 US dollars to keep people: to prevent Meta and other Metaverse upstarts from poaching

In less than half a year, Apple once again offered an incentive plan after Apple’s large-scale “coin-spending” in December last year, and selected hardware and software engineers will receive a bonus of up to $200,000.

The bonus is issued in the form of restricted stock units. If the employee stays at Apple, the stock will be paid out within four years. Counting the increase in the stock price, the bonus amount will exceed $200,000.

talent war

With the emergence of the encryption industry, the Metaverse and the new generation of Internet Web3, the competition for talents has become more and more fierce. Apple now not only needs to compete with its old rivals, such as Samsung, Tesla, Google, Meta, Intel, Now you have to compete with startups for talent.

After all, the current startups are just too rich, very, very rich! The amount of money that VCs are pouring into startups that could disrupt the traditional tech industry is insane.

Apple arrogantly "sprinkles money" with 200,000 US dollars to keep people: to prevent Meta and other Metaverse upstarts from poaching

Those with bare feet are not afraid of wearing shoes. These big companies are much more nervous than startups.

With the continuous influx of hot money, if these big companies do not keep up, they may be dumped in the next technological revolution, so Apple is also spending a lot of money to keep people.

In the second half of last year, Meta poached about 100 engineers from Apple’s AR, AI and engineering divisions, and Meta also intends to launch smartwatch products to directly compete with Apple.

Apple arrogantly "sprinkles money" with 200,000 US dollars to keep people: to prevent Meta and other Metaverse upstarts from poaching

Apple didn’t sit still either, and also hired some Meta employees, intending to continue to develop the planned AR/VR headset, which will become a competitor to Meta’s Oculus VR headset.

According to IDC data, the Oculus headset launched by Meta enjoys a leading position in the VR hardware market, with a market share of 75%. The total sales last year reached 9.4 million units, and it is expected to increase to 13.6 million units by the end of this year.

Apple arrogantly "sprinkles money" with 200,000 US dollars to keep people: to prevent Meta and other Metaverse upstarts from poaching

The two giants dug each other, and the value of engineers naturally rose.

In December last year, in order to prevent Apple employees from continuing to switch to Meta, Apple notified some engineers responsible for silicon design, hardware, software and operations that they would receive stock incentives of $50,000 to $180,000.

Most engineers received stock worth $80,000-$120,000, with bonuses in the form of restricted stock. As long as the employees who get the incentive don’t change jobs to other companies, the shares can be realized within 4 years.

In addition to engineers, Apple last year gave bonuses to retail employees during the holiday shopping season and ahead of the iPhone 13 launch.

Although Apple sometimes gives employees additional stock awards, such a large-scale issuance is quite rare.

And the second time after three months, it’s even rarer.

The second round of bonuses issued this time is not the “Sunshine Award”. Although the bonus is restricted stock worth 100,000-200,000 US dollars, it is only awarded to some top software and hardware engineers, which is smaller than that in December.

Moreover, the bonus distribution process is not public, and names are not allowed to be disclosed to the media, so the company also calls it a “special retention allowance”.

Against the Meta Metaverse

Since Facebook officially changed its name to Meta in October last year, all giants have realized that Zuckerberg is really playing this time, and the Metaverse may really be the next main battlefield of technology!

Apple arrogantly "sprinkles money" with 200,000 US dollars to keep people: to prevent Meta and other Metaverse upstarts from poaching

After Meta changed its name, it invested heavily in the Metaverse, promising to build a virtual world in which humans could socially interact with others through avatars, go to concerts, go to Restaurants, to see art exhibitions.

Search for engineering jobs on Meta Platforms’ metaspace-related activities on LinkedIn or Google, and you’ll see many job postings.

The most lacking thing to expand the scale is manpower, Meta immediately went to major companies to poach a foothold!

Microsoft’s AR team lost more than 100 employees last year, and more than 40 people moved to Meta, including some key leaders of the team.

Apple arrogantly "sprinkles money" with 200,000 US dollars to keep people: to prevent Meta and other Metaverse upstarts from poaching

Competitors have been vying for people with experience developing Microsoft’s HoloLens augmented-reality headset, sometimes offering salaries double what their original employers offered, former Microsoft employees said.

However, the Microsoft AR team has more than 1,500 employees, otherwise the shovel of Meta may hollow out Microsoft AR.

When Meta talked about the Metaverse before, it said that more employees will be recruited to participate in the construction plan, and the number of European employees alone will reach 10,000 in the next five years. At that time, the competition for talents in the Metaverse will officially start.

So now may not be the time when the Metaverse is most “rolled”.

The country is also chasing talent

It has been rumored since January this year that Tencent plans to spend 2.6-2.7 billion yuan to acquire Black Shark Technology, a gaming mobile phone company. After the transaction is completed, Black Shark Technology’s business focus will shift from gaming mobile phones to VR devices, providing Tencent with a VR hardware entrance.

Apple arrogantly "sprinkles money" with 200,000 US dollars to keep people: to prevent Meta and other Metaverse upstarts from poaching

Recently, there has been more information about Black Shark’s recruitment for the VR business. VR display system experts, VR vision engineers, VR camera system engineers, VR system interaction designers, VR optics experts, software product managers, etc., are located in Shanghai, In Shenzhen and other places, the monthly salary is also quite high.

Apple arrogantly "sprinkles money" with 200,000 US dollars to keep people: to prevent Meta and other Metaverse upstarts from poaching

On August 29, 2021, VR hardware manufacturer Pico issued an internal letter to all employees, stating that the company was acquired by ByteDance. According to the official unconfirmed acquisition amount, the acquisition amount was 9 billion yuan. It has also become the largest investment and merger in the VR industry in 2021. , accounting for nearly half of the total domestic investment and financing amount.

However, at present, most of the game and animation companies in China rely on the “Metaverse” gimmick. The salary level of most Metaverse companies is still in a normal position, and there is no strong salary involution.

Apple arrogantly "sprinkles money" with 200,000 US dollars to keep people: to prevent Meta and other Metaverse upstarts from poaching

The domestic Metaverse involution is currently focused on “trademark squatting”.

By the end of 2021, 1,692 companies have applied for 11,400 Metaverse trademarks, and 99.9% of the “Metaverse” trademarks will be registered in 2021; 31 game-related companies have registered Metaverse trademarks, among which Tencent is the most active . It is worth noting that new energy vehicle companies such as Xiaopeng Motors, Ideal Motors, and Weilai Automobile have all applied for the Metaverse trademark with the company name.

Market competition intensifies

Now that most tech companies have plans to roll out headsets, engineers with experience in augmented and virtual reality have seen salaries soar.

And in the larger environment, the U.S. job market is more liquid than ever. The soaring prices brought about by inflation have made calls for wage increases intensify in the United States, and have continued to trigger a “big wave of resignations” in the United States. Nearly 4.3 million people quit their jobs in January alone, close to the record set last November.

Apple arrogantly "sprinkles money" with 200,000 US dollars to keep people: to prevent Meta and other Metaverse upstarts from poaching

Employers reported 11 million job openings in December, a 24% surge compared to the same period in 2020.

Although a large number of laborers have resigned, the unemployment rate in the United States has not increased but decreased. As of March 19, the number of Americans applying for unemployment benefits has dropped to the lowest level since September 1969, with only 187,000 people; as of March 12, a total of 1.35 million people received unemployment benefits in the week, a record 50 years ( Low since September 1969).

Increased mobility has forced employers to pay higher wages to retain employees, and higher salaries can also make employees more likely to switch jobs.

In this regard, the engineers can only say: please increase your efforts!

Apple arrogantly "sprinkles money" with 200,000 US dollars to keep people: to prevent Meta and other Metaverse upstarts from poaching

References:

https://www.thestreet.com/technology/apple-signs-big-checks-to-avoid-talent-exodus-to-facebook

https://www.cnmo.com/Metaverse/722910.html

https://m.jrj.com.cn/madapter/usstock/2022/03/29001335973653.shtml

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/apple-arrogantly-sprinkles-money-with-200000-us-dollars-to-keep-people-to-prevent-meta-and-other-metaverse-upstarts-from-poaching/
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