For years, Google and Apple had a gentlemen’s agreement not to poach one another’s employees. But now that a class action lawsuit has been filed claiming affected tech workers deserve $9 billion in total–that’s billion with a B, not an M–it’s clear this wasn’t just a Google and Apple thing but something much bigger. Tech companies like Intuit and Pixar were also named in the suit, and now everyone is panicked, as they should be.
Yes, high salaries are a concern for any business, especially startups. And if the free market had been functioning, Silicon Valley salaries may have soared higher than they already have, making it even harder to secure top-notch talent. But it’s also likely higher Silicon Valley salaries would have had another result: talent moving to other regions.
To keep reading, click here: Did Steve Jobs Lower Your Salary?