“Middle Finger To Business Owners” - FTC Votes to Ban Noncompete Agreements
2024 ж. 26 Сәу.
68 664 Рет қаралды
Patrick Bet-David
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Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller Your Next Five Moves
Patrick "Free Market Entrepreneur" Bet-David showing his true colors
PBD goes with the grift. He saw that MAGA propaganda is profitable, and that's why this channel covers nothing but that now.
PBD hates American workers he only cares about the CEOs
his entire thing is based on an mlm scam anyway i don't know why the hell people don't see through his bullshit and call him out for being the absolute fraud he is
Non Compete's should be illegal. I have yet to hear a good argument for their existence.
When a person buys a company in the service industry what is being purchased is the client list. In the sell the seller signs a non-compete. The non-compete prevents the seller from opening a competing company down the street from the one he just sold and poaching the clients from the business he just sold.
@@wyattderp9719 unfortunately they are mostly used to stop a poor McDonald's worker from working down the street at Burger King for 50 cents more an hour
One of my previous bosses ran (and still runs, to my knowledge), a tech repair and resale shop. He was screwed over royally in the past when he invested in several of his own employees, trained them, and bought training to get them certified only for them to stab him in the back, form their own local business together, and steal his clients. I think there's a middle-ground that should've been met here, like a time limit or locality restriction, but I think I agree that they seem to do more harm then good in the way they have been used up till now.
@@wyattderp9719 We already have laws for proprietary business practices
Not true. If you want to compete with your employer you can now brother. You probably don't even own a business
Noncompetes are like indentured servitude contracts. Some things are just not okay.
Well they sign the contract and are happy to get the job... but then dont like it when they want to move on... well dont sign in the first place
@@chucknorris277should they not work? Go on welfare? It’s predatory to people that want and need to work
@@chucknorris277 I also believe unpaid internships should be illegal. That is another predatory system, "you got to do some internship to graduate."
@@Meowmeow.age.6 if offered to work for Goldman Sachs Investment banking division for free for a summer. What percent of business school students would take that opportunity?
"How am I going to retain employees I trained over the years without the non-compete clauses!?" Perhaps you should pay them more? If you treat your employees good then they won't leave. The fact that you are so mad about not being able to hold your employees hostage by denying them the ability to participate in the free market with their skills must mean that you treat your employees badly. Nobody leaves a great job with great management.
Nah bro, I'm sorry. I totally disagree with non-compete agreements. How the hell you going tell somebody that they can't leave and work for whomever they want to or even start their own business??? That's crazy! I always thought those agreements was wild.
Really? So you can join a company, undermine it, steal the clients and make them your own?
@@noam8314isn’t that capitalism?
@@nunyabidness7204 no
I have trained dozens of employees only to have them leave and join a competitor. Sucks
@@nunyabidness7204 no.
Non compete....if we fire you or you leave you can't get another job in the same industry for say 3 years. That is crazy. It has always been a fear and intimidation tactic. If the company parts ways with me I have Zero duty to that employer. They are conflating an NDA for company secrets vs labor. If you are not paying me enough then I should go sell my skills in the free market and not be held hostage.
Agreed, or pay me to sit out of my chosen profession if the threat was so real to them in the first place.
@@sterlinggray4027 sorry but don't sign for them if you have a problem. A business owner won't hire you to be the ceo if you can just undermine him, steal all of his clients and leave within 2 years. The non-compete is to protect the business and it's secrets to success.
They hate the freemarket when it doesnt benefit them. PBD doesnt like this ruling because it would undermine the ability of companies to intimidate labor.
Non-compete is slavery for the employed and monopolistic in practice. This is how one person gets extremely rich, instead of allowing several people to live well.
Nothing says "capitalism" like forcing people to not compete in the marketplace😂.
Screw non-competes. This is great for workers.
It isn't even about workers, although it is great for them. Non-competes are the most unAmerican things to ever be legal in the US. He railed about the state of institutions being poor in America, but the federal banning of non-competes is the first sign that they are working properly that I've seen in the last 10 years.
🐜 mentality
@@D4PPZ456 PBD is a hypocrite
Competition is the very backbone of Capitalism, Pat. No competition breeds authoritarianism and a stagnant economy. I’m surprised you’re not agreeing with the ruling since you stated Capitalism is the basis for your political beliefs.
He is aganist it cause he just hates everything Biden does.
Non competes are bullshit, you get to stop someone from getting a job after you get rid of them, for years...I like this ruling nobody should have a say in you being able to get a job in a company that isnt yours.
Exactly!
Than change it so that if proven you were fired not due to breaking company rules you can go to other companies. But restrict it so you cannot go after someone else's clients, otherwise the us economy will tank. You cannot have a situation where it makes sense for everyone to sabotage the business they are working for.
@@noam8314the wealthy and corporations have been sticking it to workers for 40 years. Treat people like trash and they will do so toward that business owner. I welcome this ruling and see it as the start of a return to Eisenhower era policies. Bring on 2028 when those of us under 40 will finally be the majority and can return the favor.
@@12time12 unless trumps administration changes the law you will have a 99% of businesses tanking due to corporate espionage, with the only ones remaining being the giant multi billion and trillion corporations
I'm not sympathetic. When states allow companies to fire you after you give your two week notice it's just evidence that there aren't enough protections for employees.
Economic freedom is a constitutional right, for businesses AND individuals. The FTC is based here.
I have never believed in non-compete agreements
Here's pat showing his true colors again. He wants liberty for business owners and tyranny for workers. Owners should have to compete in the free market like every one else. Everyone I know who is in a non compete agreement works for a shitty company that wouldn't survive if they weren't allowed to hold their employees hostage.
You don't have to work there
Exactly. Pro-business types don't care about the first amendment RIGHT to economic freedom which is guaranteed to EVERYONE in America. He's *greedy*.
@@samuelp1227 COMPLETELY irrelevant. You don't seem to even understand what a noncompete is.
@samuelp1277 you obviously have no clue how non competes work. Wether you are fired or quit you are forced to move to a completely different city or region to continue working in the same industry. It is communism but because it favors bad business owners pat loves it.
He's a fake capitalist, a real capitalist would encourage competition.
Good. Businesses having been getting away with this overreach of power for far too long. They have no right to tell people how they may earn a living.
The non-compete clauses have forced doctors leaving clinics to practice outside their communities, sometimes for years. It is hard enough to start a lone business let alone being shackled by a non-compete
But at it the same time, businesses like clinics have certain outlined practices which are still business secrets even if you don’t think so. For someone to just take your business practices and methods, open their own clinic and take your clients, that is not fair business practice.
@@kemj9 So because someone made the mistake of working for you they shouldn't be allowed to further their career?
@@dudemynameisdeboNo I think outright ban is wrong. I think what should have happened is somewhere in the middle. If you have been fired due to job cuts, why should you have to train in a completely different field to avoid a non compete scenario? If you want k advance your career as there isn’t the opportunity where you are then you should be allowed to move on. However a business has spent years training you and has shared things that they see as proprietary. They shouldn’t want that information being shared with other businesses. I think the scope of the noncompete should have been narrowed but a complete ban is a mistake. Business will now be extremely careful and take more precautions in the hiring process which will have its own effects. Corporate espionage may become even more prevalent. Imagine leaving a company to go to a competitor then a year or so later quitting to go back to your original employer with all the secrets of the competitor under your belt. Businesses need protection too.
@@ohiunku Fuck being fired. I should be able to quit and get a new job with better opportunities. My previous employer should have ZERO say over the opportunities I can take advantage of.
@@ohiunku We have laws to protect proprietary information. You are upset with competition.
PBDs " the rich should stay rich, fk the poor" Mmmky
Yet viewers in the comments still praise PBD lol. He's liked bcs he speaks highly of Trump.
@MaddenFifa Whenever a tax increase is on the ballot I think of PBD. Then I vote YES
@@ItsAllCulturalMarxism even tho he's pushing to raise YOUR taxes. Not his. He's in a higher tax bracket where his taxes are slim to none -if he even pays any. PBD sure is cheerleading for people who have admitted to not paying taxes while wanting everyone else to pay a %. He's a hypocrite who will tell you all the conservative politics you want to hear.
@@MaddenFifa because they're ignorant Trump cultists.
A good company doesn't need non-compete contracts to keep their employees. They want to stay. Non-compete contracts are what poorly run companies use to keep their employees from jumping ship.
Terrible take. Employees steal company trade secrets and clients for their personal gain from the resources of the company they left. There needs to be middle ground for both parties
Rare L that PBD takes here.
Rare 😂
@@jasonhestandit's common, not rare
lol, PBD has always been a hypocrite
@@MaddenFifa exactly my point. PBD is a dipshit that found a scam
You don't own the worker bro if his business is better he will get the business
PBD is alone on this one, clearly
He's trying to appeal to corporate donors.
It’s always less government until their bottom line is effected.
Yeah, no one who has a job is with you here. Another L take from Patrick.
He is wealthy with large businesses. Which means he has a bias. Thus, my belief that even when you generally agree with someone, best believe there is plenty that they believe that goes against your own best interest. PBD generally has ideas that are more or less levelheaded, but when it comes to making his living he is a slimy businessman just like the rest, and the bottom line is always the moral compass.
@@erob52it’s funny he sort of acted like he was in the group of small business owners.
@@erob52 he did make his money from some type of insurance-selling pyramid scheme
This is not a good look for Pat . I’m a huge PBD fan but this turns me off . This law was more looking out for the hairdresser and Drs that are tired of corporate companies
@ofAwxen He's afraid someone else will take his ideas and run a copycat MLM Pyramid scheme 😂.
Good! Non Compete Agreements should have always been illegal
Negative. If I'm spending several million dollars to buy your business, that price I'm paying is supposed to reflect its true value. If you're going to take my millions of dollars and then turn around and recreate the exact same business, with the same clientele, you're a crook.
@@kevinkasp You just can't handle competition. And maybe you're an irresponsible decision maker if you'd rush into such a purchase without doing market research to make sure you could even be successful. Your hypothetical rings hollow.
@@AlexDeLarge1you’re looking at it completely wrong. This has nothing to do with someone’s willingness to compete.
Amen
@@kemj9 It definitely does. It's a free market.
I never thought I would see Patrick go against the free market! This is actually deflationary and therefor good in my opinion. I believe that everyone has the right to purchase goods at the cheapest price possible. The cheapest prices possible for consumers comes from competition. If you don't like the competition that's too bad for you! Improve your business or get put out of business by someone who will do it better sounds way better than being told I can't do something. This will help keep more small businesses around and help to prevent businesses from getting too big. I find that I agree with Patrick on quite a bit, but not this. He actually comes across quite poorly in this video IMO.
He's.a hypocrite... sorry to break it to you.
I haven't watched the video yet, but if any of these guy disagree with this then I'm going to have to start reconsidering what they actually believe
Exactly. Yet most won’t dig that deep. This guy really isn’t for the people. He’s for the money.
Lol, sorry PBD fooled you. He's a hypocrite who worships money. No real principles or values other than the love of money.
I have to agree with this new ruling. A few years ago, I was a salesman at a company selling ATV and UTV and that company made me sign a non-compete agreement that lasted for two years. I did not have the option to work for a competitor fifty miles away in another town, since I would be violating that agreement and the company said it would pursue legal action against me. I think this was a great ruling.
I disagree. Like anything, things exist because they can serve a legitimate purpose. And they also can be mis-used and abused. If I purchase a commercial laundry service, for example, the price is supposed to accurately reflect it's value. If the person who built the business that I'm buying takes my money, and starts another laundry business taking all the customers that were the main value I paid for, he's done me dishonestly. In your case obviously you travel with just your reputation and skills and therefore should be a free man to practice your trade wherever and with whomever.
@@kevinkaspthey serve a purpose in the sense that they don't want competition, now they'll get it and that's a win for all of us.
They can pursue but i doubt its enforceable. Now with this rulijg its definitely not
@@fauxbro1983 they went out of business on the fourth month I was working there. It all worked out for me at the end
So should we get rid of patent laws too?
Had my own business for years, as both an owner and an employee most of my life in an at-will state…I absolutely hate non-competes
Non compete.... it's ANTI competitive. It's right there in the name.
Complaining about how you trained someone for 10 years then they left to start their own business is dumb. They were there for a long time. If you want them to stay, pay them more
Absolutely!
Paying employees a fair wage is counterintuitive to people like PBD.
Or give them equity in the business.
Yes, because you wouldn’t have those skills if THEY didn’t teach you. You would still be in the street. Not stealing someone else’s ideas and customers.
@@tomriggs699”learn a skill/trade to stand out but you can never leave” yeah that makes sense🤡. The same people that call workers lazy, also don’t want workers to find better paying jobs for their skills.
It all depends on how you choose, foster and treat your employees. If you do it right, it should not make a difference.
Most small businesses that are innovators are not very good at personnel management until they reach their 50s. They’re creativeness and energy is starting to decline. with the unemployment so low the people available to hire have ethical problems.
These agreements should have never been allowed in the first place. My experience is mine and I should be allowed to benefit from it.
Maybe, if businesses are feeling squeezed, they should buy fewer lattes and Avocado toasts. Have they ever considered that?
Of course Patrick doesn’t like this ruling 😂.
Yep. He wants you to forever stay under the boot of the system.
@@peterfrank1572while he also claims you should be grateful for where you are lol😂
When non-competes are forced on production workers it is an overreach by companies and this is what happens.
My dad was a sales engineer he signed a non compete with Tyco valves and they tried to prevent him from going to a new employer. His non compete was non enforceable. Non competes for employees are bullshit. No fault employers can lay you off for any reason and non competes prevents employees from benefitting from thier skills
How long was the non-compete?
If you want everything to suck and fall apart a non-compete agreement is brilliant.
If you have a niche job than a non compete prevents you from leaving and getting the only job you're qualified for.
I actually left the company I was working with 8 years ago BECAUSE OF a non-compete they were forcing everyone to sign, and ended up taking my (competing) side hustle of many years full time. Haven't looked back since. Those non-competes are great for the business owner. But not for the former employee like me who had always planned on launching his own company anyway. And, for the record, I took nothing from the company in the way of professional development or other valuable resources invested in me. I was hired because I was already a top-tier asset.
Why are you talking about what's good for employees? You didn't know that republicans don't give a s*** about employees...
I’m good with getting rid of non competes. They should have never been allowed in the first place.
The best bosses help their Employee's succeed even if it means breaking out on their own. How fucking dare you think you have the right to control my career because I made the mistake of working for you.
A business that uses these is a poorly operated business. People leave because they arent happy. Pay more, or the competition will.
So when a salesman on your major accounts leaves you’re supposed to just take it in the chin as a business owner? Spending all that time and money getting the sales rep informed on the account, a full stack of solutions, who to call, how the business works, travel and expense for you to play golf and have nice dinners to gain the account’s trust and friendship.
@@ludwigvonsowell5347 Envy much? Compete or lose. That's America.
@@mojoman327 it’s a private agreement that you have a problem with and is therefore outlawed. You’re the one who is filled with the envy of being able to have an employer draft a non-compete for an employee.
@@ludwigvonsowell5347 Regardless of your attempt at gaslighting, your side has lost. Have a nice day.
He’s always speaking from his point of view, a boss. NCAs stifles competition. They were always whack
I’m definitely for the ban. And I’m ultra pro capitalism. Especially in my industry (transportation and logistics). If your company is that great, people will stay but some will still leave and that’s the nature of business.
Agreed, Iam in the same career, as a 1099 contractor for the past 16 years. They have successfully sued brokerage agents and won several times in enforcement of their highly restrictive 5 year , Worldwide clause. The only person from our agency of 179 agents who beat it moved to CA, where non competes are not recognized in any form or from any State. I even went as far as to buy my freedom, 100,000K was my initial offer. Next offered them a % from any new business for 5 years, still no. So either fight and sit out work while it grinds through the courts, change careers, at 60 not likely, after 16 years, work undercover through an alias but not my style or Move to CA,🤢 or one of the other few States that restrict NCA's. CA is the only one I have found that strictly forbids them, since 1872, but recently revised the law to include NCA's signed outside if CA. OK, MN, CO, ND and DC, also have restrictions but in CO for example it only applies to incomes below 123,000K I believe. If you have any insights or other exceptions I would appreciate your perspective.
Agree with you on 99% of things. I've never agreed that a noncompete is best for anyone. I've always said, "you're going to allow me to bleed for you and hone my skills according to your needs for a decade, and when it's time for me to leave not allow me to use my skills to create a new business that provides for many?" BS! 👍🐊 ...The only people that agree with noncompetes are those that don't have to sign.
Lol - the comments aren’t going the way you hoped….. Good - non compete is insane, only crappy employers are afraid of this.
Pat must be a crappy employer
FTC is in the right here
Nobody owns the cheeseburger market
Lol. Well said!
In Oregon you have not been able to enforce a noncompete for at least 35 years.
That's good to hear, I know Minnesota has joined California, North Dakota, and Oklahoma in banning non competes for employees, but as far as I know only CA has a complete ban and will not enforce any type of N-C, regardless of the profession and the State where it originated. Also, DC has banned them outright, which figures, Politicians will protect their own. Thanks for the info, and from a state I have always enjoyed visiting.
Texas as well. many years. they don't hold up in court.
We like Patrick the most… but Vinny is most relatable ! Adam is the face of disagreement and Tom is the representative of facts! 😂
Adam makes me grind my teeth sometimes. He thinks he's spitting facts when he is spitting quite the opposite.
They're all seedy individuals honestly...
So is he advocating that people that want to get paid more should forgo that competition money and let their bosses have it?
PBD continues to prove why average Americans should not listen to him and he’s a scammer…. He is not for the working class like he tries to make it sound. Non-competes are terrible for employees searching for competitive wages. Eliminating these gives power back to employees. If anything, this is good for most Americans because now it requires business owners to provide better benefits, wages, or cultures/work environments for their employees. Nobody should be buying any of PBDs bullshit anymore. He needs to go back to scamming in his MLM
If the business paid a competitive wage and treated their employees well they wouldn’t need to worry about them leaving. I worked under a noncompete for 10 years and the company stole tens of thousands of dollars from me because they knew they could.
Too bad. Pay your people if you want to keep them.
NCA's are BS. Imagine a business owner who isn't sympathetic to the man who wishes to pursue the same dream.
This is why culture matters more than ever. Build a culture where people don't want to leave.
I thought Patrick was all about competition… Non competes are anti competition.
You mean he fed you a bunch of crap that that's what he's all about. He's a scammer.
this is one instance where PBD is full of s**t. As someone who was stuck because of a noncompete I am glad its gone. Now we can have some fair competition
lol one instance....that's hilarious. One time where you noticed because the hypocrisy is so blatant.
I sold a product line i developed in 2020, and sold it a year ago. My non compete was verbal. And i will maintain that verbal agreement because i would look like a total DB to my associates, and they would never trust me if i failed to honor that non compete.
The ONLY way a company should be able to enforce a non-compete is if that company pays the employee 100% of their full compensation package, including all benefits, for the exact length of time the non-compete restricts that employee from free and fair movement to a competitor.
Noncompetes have ruined many opportunities for me and it’s about damn time.
I agree with PBD 99% of the time, but not on this. He mentioned how hard it is for businesses to stay open which is true. But how can he not recognize how difficult it is for an individual person to not be allowed to work in their profession for 1-2 years after leaving a job meanwhile the business has a new ass in your seat a week later? So the business is allowed to keep on competing.. just not the worker? I think NDAs related to the business are fine, just not non-competes.
He doesn't care about workers. Doesn't factor into his analysis, workers aren't real humans, only business owners.
I was laid off from a job and had a 2 year Non-compete. Even though I did not quit, my NC was still valid. For two years I had to leave the industry and it was the only industry I had any experience. I was unemployed for 6 months. I aggressively searched and couldn't even get an interview. The company that laid me off with zero notice and only gave me a 2 week severance package, owned me for another two years. Why have Non-compete agreements when we have NDAs?
Non competes are so anti-American is not even funny. If your worried about your employee doing what you did, your just not good enough.
About time. A company should not be able to own a person or their skills after terminating them.
Means employers can’t exploit their employees so easily, if you make up them do all the lifting and hours, he can easily walk away and take your clientele. This is fair wages at its best, now the CEO can’t strangle hold the workplace and exploit them.
I’d argue that non competes are a communist idea. We pride ourselves on being a capitalist country, well, telling people they can’t go out and improve on an idea is not a free market.
As a small business owner, this ruling just allowed me to possibly triple my revenue. The only ones that get hurt by this are huge corporations
I think it's just as important to give the government props for when they do good thing as it is to point out all their failings. RIP to the Non-compete, the most un-American thing to ever be legal in this country. It has probably cost the American people an immeasurable amount of innovations, but no more. May it never again return. 🎉🎉🎉
As an owner of multiple businesses, I have never supported or required a non-compete agreement be signed by my employees/agents. If I cannot retain you in my employ by means of a superior comp plan, attractive work environment, and stellar selling proposition for my company's products then good on any of my employees for setting out on their own to break down my own business model with their competition. Non-compete clauses quash innovation and product development and leads to less consumer choice. It is the antithesis of a competitive free market and healthy capitalism.
Yep, I agree with this. Non competes are garbage and need to go.
PBD, you are soooo wrong on this. I'm and independent anesthesia provider to travels around the country to provide anesthesia services on contract basis. Almost all the staffing agencies want independent providers to sign a non-compete clause. The ONLY service they provide is be the middleman between me and the facilities. Why do I have to sign a non-compete clause. They spend ZORO dollars on training me. The facilities provide ALL the locations, the equipment, lodging, travel, meals for the providers. The staffing agencies get paid commission by the facilities for my services. Why do they have the right to restrict me from going with other staffing agencies? Why?
Exactly. Why? Agree 💯
As a business owner, I understand the rationale behind a non-compete agreement. However, I have seen many business owners use non-competes to mistreat their employees knowing they can’t leave and take their skills elsewhere.
Its a good move. It removes the ability to mistreat and end a long investment into a "career". Here's the better option, only hire people you trust and keep them happy.
They should have well defined limitations, which as of now they don't. As a broker, a 1099 contractor, I am stuck in a 5 year non compete agreement that would forbid me from even being the janitor at a brokerage house , anywhere in the World. I could possibly fight it and win, but in the meantime I would be out of work for a year plus. I could move to CA where it's not enforceable but it's CA,😂. I have even offered my agency 100k to release me, they still refused. This brokerage has been sold twice, each time things have gotten worse for my compensation, yet the non compete transfers per current law. Also, Keep in mind I would not be departing with any of their clients or any technology or processes that aren't widely available for free or for sale, granted, I would be leaving with 16 years of experience, but should I be bound forever to the same agency? There should be alternatives to these types of agreements.
This is a great ruling! Now companies will need to pay people what they are really worth and treat them well or they will just leave and go to a competitor to get what they are worth. As for the business owner, I thought competition was good PBD? You think Steve Jobs cared about what Microsoft was doing? Hell no he didn’t. He was focused on his company and making his product the best regardless of what the competition was doing. Suck it up PBD! This is good for employees and this will force more competition in the market and the good companies will rise to the top and the shitty companies will fail. That my friend is capitalism!!!
I was let go for a diversity hire at our drafting office last July. I worked happily at the office on some killer projects. I signed a 2 year non-compete three years prior, and was forced to switch from architecture to construction because no one in a 40 mile radius of our area could hire me due to the order. Switching industries definitely was a blessing though.
It’s about time. Companies will keep people if treated correctly. Doing away with non-competes is great for employees.
Truth!! And what a great, non confrontational lesson to help pop open the closed eyes of some of your employees.
They don't have any employees.
So they are mad because someone working and learning a trait at a company shouldn’t be able to use those skills to go somewhere else incase they are fired? Am I getting this right? So basically they should go learn another trait then Start over? Please someone tell me that’s not what he’s saying.
I’m in favor of this. Too many companies use this as a hammer to scare other employers and employees from seeking new employment. They are garbage. I’m glad they are gone. Treat your employees better, you won’t need them.
Yes, but it doesn’t affect Non-Solicitation. Also, it allows independents to be more competitive with big businesses, which is the entrepreneurial spirit.
PBD for the little guy: “don’t ban my non-compete bro” 😂
NCA needs reform. It also should not apply to all positions (such as positions that don’t design your product) or in layoffs or just firings. Non disclosure agreements should apply. Companies use this for legal slavery and to keep all employees underpaid. Shame on them.
If you're investing all of this effort into someone, using a non-compete to keep them from leaving, then what you should really be doing is taking better care of that person so they dont want to leave. Golden handcuffs work a lot better than sucking your employee dry and then tying their hands so they cant seek freedom. An actual win for the employee if u ask me. totally different from say an artificial wage increase scenario that hurts the market
Who thought they could outlaw competition 😆
I can’t imagine being so desperate that 1100 bucks changes my political views and values. That being said, the government has proven that they are terrible with money.
The problem with non compete agreements is most companies that want to use them use them improperly. They sometimes have a place but more often than not they are being used in bad faith!
Nice he decided to give his employees an $1100 bonus, but doesn’t change the fact that the capital gains taxes in this country are pretty low and have been lowered.
Business owners are like “how dare they leave my low pay job and provide their family with a better life?” Maybe you should work harder to keep your employees instead of holding them hostage. When you are in an a economy where housing is skyrocketing, crazy student loans and a family to feed, signing these noncompete agreements is 99 percent of the time your only option. Contracts signed under duress is unenforceable for a reason. Not mention this NCA are made centuries ago where people had total control over what people do..."slavery"
Non-compete clauses are fine to recover training costs, and any smart business owner would have them for employees that were trained at company expense. Some businesses had non-compete clauses in cases where the company did not have those expenses, which is wrong. What's also wrong is this issue being handled at the federal level.
Sounds like PBD would’ve hated Abraham Lincoln and his famous ruling. You want paycheck-to-paycheck people staying under you
I totally agree with the FTC's decision. Here is a better solution. Pay your valuable employees a retention bonus. If for any reason they leave in the next 12 months, they have to pay back the retention bonus.
What does capital gains tax have to do with Employers forcing you to sign an NDA/Non-Compete? Swerve from PBD bc there is no argument. The pie isn’t finite, the free market allows for multiple businesses in the same industry to thrive.
Good Everyone is about the “free market” when they can influence the outcomes
If you have to threaten your employees with legal action for leaving you aren’t a good employer. PBD wants to spin it as a negative for small businesses when in reality it’s large corporations that hold most of the non competes. In Detroit, casino workers - the dishwashers, bartenders, casino floor staff had non competes and couldn’t go to the casino down the street which was offering higher base pay and benefits. So who is that fair to? Shouldn’t a free market tell the employer that there pay is too low and adjust to met the market? Incredibly bad take.
My experience with non-compete agreements is that business is basically trying to deny you access to the tools you figured out how to use at their business. When you sign one of these agreements, you are primarily non-competing with yourself.
But you DIDNT figure it out yourself. They trained you, or you would have started the business yourself without them.
@@tomriggs699 Get real! About 1% of the information I learn from them is propietary. The rest I learned at school. They couldn't even understand the remaining 99 percent.
@@tomriggs699 Also, not for nothing, but if they had anything to teach me, I probably wouldn't be moving on..
Can the FTC even ban non agreements? Seems only Congress can do that.
I live somewhere that non-competes arent legal. And they should not be legal, the power imbalance in the employer employee relationship makes their inclusion in employment cobtracts coercive. This doesn't hurt small business, this is a middle finger to huge corporations. But what smb really has and enforces non-competes? The only exception i would allow for a non-compete is where the company PAYS for the service of the non-compete for every year it remains in force.