r/technology • u/geoxol • Jan 13 '23 • Helpful (Pro) 1 Bravo! 1

Apple CEO Tim Cook to take more than 40% pay cut Business

https://apnews.com/article/technology-apple-inc-tim-cook-business-d056553b10120c4a968b562cb7ece5d2
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u/fumbling-kind Jan 14 '23 • Silver Take My Energy Plus One

I don’t know why this is news.

Within the article it reads:

[“Cook has received a $3 million base salary for the past three years, but his total compensation — which includes the restricted awards — jumped from $14.8 million in 2020 to $98.7 million in 2021 and $99.4 million in 2022.”]

So he’s taking 40% pay cut not long after receiving a 667% increase between 2020 to 2021.

So yeah… how noble.

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u/skubasteevo Jan 14 '23

How will he survive?! Have you seen the price of eggs?!

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u/shaman_of_ramen Jan 14 '23

"It's one banana, Michael. What could it cost, ten dollars?"

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u/Past_Paint_225 Jan 14 '23

I'm wondering how long it would take until a banana actually costs $10 and this joke stops being funny

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u/DumbDumbCaneOwner Jan 14 '23 edited Jan 14 '23

At 3% inflation, would be about 130 years.

$10/$0.20 = 50x

1.03130 = ~47

Edit: I guess and checked this. I think you need to use logarithms lol to actually solve 1.03x = 50. Too hungover.

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u/qlz19 Jan 14 '23

Now do the math with the actual rates of inflation. It’ll take a lot less time than that. Wasn’t it like 7-8 points last year?

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u/DumbDumbCaneOwner Jan 14 '23

But that won’t continue forever

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u/qlz19 Jan 14 '23

Says who? It’s still getting worse, isn’t it?

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u/pdoherty972 Jan 14 '23

No it isn’t getting worse. Inflation month-over-month numbers have been at target rates the last five months in a row.

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u/qlz19 Jan 15 '23

Who’s target rates? “Target rates” means nothing.

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u/pdoherty972 Jan 15 '23 edited Jan 27 '23

The Fed’s target for inflation is around 2%.

The last six month’s MoM numbers are 0.0%, 0.1%, 0.4%, 0.4%, 0.1%, and -0.1%. Those annualize to well below 2%, meaning inflation has already been tamed. The rest is just waiting for the other 6 months numbers from before the Fed raised interest rates to fall off of the 12 month number.

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u/3CCExpand Jan 15 '23

No, it means something. When you don't know a thing, that's not the same as a thing having no meaning.

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u/Pyjama_Llama_Karma Jan 14 '23

Remind me 1month lol.

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u/Kiwifruitsalad777 Jan 14 '23

There’s always money in the banana stand.

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u/Aidandrums Jan 14 '23

Not if Apple has anything to say about it.

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u/[deleted] Jan 14 '23

A-wop-bop-a-loo-mop-a-lop-bam-boom!

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u/LOA503 Jan 14 '23

Best answer ever.

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u/spacepeenuts Jan 14 '23

We are not too far from Bill Gates dystopian prices

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u/Square_Salary_4014 Jan 14 '23

Wasn't it 5 dollars ?

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u/1Th3Gentl3man Jan 24 '23

Come to Canada, bananas are the only things which are still cheap in grocery stores