I have never before in my life seen anyone actually tackle corporate corruption and stand up for the working class. Lina Khan is a warrior and my hero!
I would not imagined myself listening to a FTC chair, was I so wrong ; she articulates so well and makes us all think about the true merits or capitalism not the pseudo one. Thanks Ms Khan for working towards the ‘perfect union’
Lina Khan ( and her staff) are performing a great service for the citizens of our country and the world. Noncompete clauses stifle competition which stifles innovation1 Keep it up Ms. Khan!
This makes more sense for the economy. You should be rejected from a job because of a more qualifying candidate not because you are handcuffed to your previous job.
I just started a new job. During the negotiation, they wanted to include a non-conpete that basically covered the entire state. I pointed out the hypocrisy that are recruiting me from a competing company, and if they wanted me they would not include a non-compete. They conceded that. I am probably one of the few people in my company not bound by this non compete. I am glad that this new ruling bans future non-competes. I don't want to work with people who are only there because they have to be there.
Not to mention new businesses who can't get started because established ones have locked up all of the Labor. It's just another barrier to entry of new business. I can see certain talented people who are hired based on their specific skills and personality. But a fungible employee or worker should not be subject to no compete clauses. I think the FTC is right on this one.
Good work Ms. Khan. 👏 Keep up the good fight against the overly aggressive entities like Amazon and Walmart and Health Care monopolies! American average folks APPRECIATE You & Your staff. So refreshing to see a govt agency Actually doing their job! Thanks!
Much of the business community sees Khan as an obstacle that needs to be removed. Here she demonstrates that she understands the concerns, explicates the careful consideration of the nuances, and details an example of the approach that she takes at the FTC, which requires looking at the outcome- a functioning market- rather than taking sides with buyers or sellers.
I am in agreement. Non-compete is similar to monopolizing talents in one company. A company will be too big to care and too big to fail, which will lead to executives misbehave with monetary. American tax payers end up paying. We could use more businesses and new ideas. Competition is always good for consumers and economy. A lake is stale limiting water, river is always flowing bring in freshness.
It's called leveling the playing field against corporations that have constantly taken advantage of their employees, while adding layers over time. Well, the layers have just been peeled off and corporations done like it. Protecting trade secrets should be the only thing to be protected.
I'm not exactly an expert in day to-day-business of EU authorities, but my general understanding is that we already have an ECA that is much more active than the American counterpart, no?
A friend of mine was a Nurse in Home Health She worked for them for 5 years ! She got a promotion to supervisor and worked for 6 months They fired her. The non compete kept her from having a job within 200 miles of her city . She was forced to move
The company I was working I was making $19 hourly. They fired me and asked me to pay them back $18,500. I was shocked and this company still threatening me to pay them back. Currently, they can sue me for “bankruptcy”. I had no money and can’t pay them back. What a nightmare I’m living.
They also prevent an employee from leaving an employer because you want more money but are locked in the job! The new non compete rule is for employees making under 159K
The non-compete clauses have been practiced in California for decades. Job seekers would sign anything to get a job. This has been especially evident in the gig economy.
I've never signed a non-compete agreement. They never fired me, and 18 month later, I left that job and started my own junk removal businesses in florida. I was working as a W2 employee, but the employer was paying me as 1099 independent contractor. Today, I received a text message from this former employer saying that I violated the non-compete agreement and he is going to sue me if I don't close my new business. While I was working for that company, I was making $180 a day. Most of the time, I worked from 9 to 14 hours a day without benefits and no overtime pay Does anyone in here know if this becomes a legal issue or not?
There is a very good chance it will become a legal issue. I suggest looking into this with a lawyer or someone with more legal expertise. You said you didn't sign a non-compete but these documents are fine-print. Which is why it is better to hire a lawyer to be on the safer side of things, if you are able to afford this of course.
Typical CNBC rhetoric, acting as if wages going up would be a bad inflationary thing. What's inflationary is the price gouging by the monopolies/oligopolies they protect.
@@OrangeTree253 Even then, it's only a problem if the nature of your business is extracting wealth from the masses as opposed to producing goods and providing services that consumers want and need.
There is a reason non competes exist. I feel like removing any sort of non competes for future contracts have to coincide with agreements where any process or information pertaining to the company have to go hand in hand no?
Regular people are the one’s this effects - employers can keep you in a job even if they don’t pay you what you’re worth because you can’t leave with out moving
It's iffy if reducing non-competes will generally increase innovation... It may increase salaries and golden handcuffs... But it would depend heavily on the industry.
You should be in favor of competition. We don't live in caste system. You aren't guaranteed success. If you can't compete, then your competition will provide more efficient business. That's what capitalism is
If you own the kind of business that makes its employees want to go work somewhere else, you are the problem. Well-run business can retain employees without fearmongering tactics like non-compete agreements.
If you have to use a non compete to keep your employees trapped, then you don’t deserve to be their employer:/ Maybe make the effort to to take care of your employees better?
@@Nimbusdrifters Exactly! A non-compete agreement protecting the health of your business is like a prenup agreement protecting the "health" of your marriage.
The Executive Branch does not have a compelling interest in this private contract matter. This will eventually be struck down by the courts. The constitution does not explicitly provide for this sweeping power.
The definition of fairness is not: "did you agree?" Non-competes are not capitalist and they are antithetical to a system of free labor. We are not supposed to be in bondage to the company that we work for. They're called non-competes for a reason. They stifle competition
Isn’t that what an NDA is for? If the employee leaves but can’t talk about secrets they learned what’s the harm? Your argument makes no sense. Just pay them more and treat them better and they will not want to leave!
@@cottonfieldlover1 even if this was true (which it is not) "millions" of people should still not be able to decide what other people do with their resources. I'm sure "millions" of people would like to have Elon Musk's, Warren Buffet's, [insert billionaire]'s money. But they shouldn't be allowed to take it just because millions of people believe that. This is an argument born of a mind that is devoid of critical thought and rationality.
@@nicfeller What are you talking about. She's enforcing anti-monopoly laws that have been on the books for a century and that ensure a competitive field for others looking to make their mark. What's not to like, from a market economy perspective?
@@cottonfieldlover1 The current law that gets used is the "sherman act". There's not one thing that she has done that would reasonably be upheld in the context of the sherman act. If a company is an illegal monopoly, it should be broken up or prevented from doing business. She is preventing mergers and controlling small details about how companies work. She has no business doing that. She just views herself as an anointed saint that gets to tell other people how to run their companies.
@@nicfeller Enforcement includes deterrent measures as well. Further, preventing mergers is part of the FTC's mandate. Use the tools to protect workers and consumers. Glad to see the DOJ is on the same page and working in concert with Kahn and the FTC.
Everyone says Lina and the FTC is right until they are on the other end of their IP/Business being wrecked because someone stole your idea and maybe they have more capital to bring it to market. The burden of proof will be on the person whose idea is stolen to prove it even though it may be next to impossible. Instead of eliminating it completely, why not reduce the time it is in place and create a system where the reach is reduced? This requires a middle ground solution.
@@merrytunes8697they do they are just using weak arguments. In reality they are gonna lose their most talented workers because they aren’t willing to pay them what they are worth.
That’s stupid. What she enticing people to do is to get a job at a major company. Learn the secrets quit, and then immediately start a business using the information they got from them. As she doesn’t see that as a problem.
She is enticing companies to pay their employees higher wages so that they don't quit and start their own business with the expertise that they have gained over the decades.
@@mklite by getting rid of non-competes, employees can get start those businesses. Non-competes PREVENT employees from COMPETING in every meaning of the word. Stop spreading disinformation
