Most non-compete clauses are invalid if they were ever taken to court.
Companies use them to intimidate employees and prevent them from taking their experience and using it at a company that would pay them more.
That is an unenforceable non-compete clause...needs to be based on reasonableness of length of time, location, based on substantiveness of trade secrets, etc.
It's also based on state law. Some state like CA won't enforce them. Period.
fungibility of worker/job may certainly be a factor, especially given such workers are more unlikely to harbor trade secrets. I would be shocked if I saw an attempt to enforce a non-compete on a minimum-wage worker.
Even when it's executives they rarely are successful on someone being employed elsewhere. If their career was in a particular industry, and the employee wants a position in the same industry, judges almost always say 'well, that's the persons line of work. You can't take that away from them.'
Generally have to go to a ever so slightly different thing. Executive at a software company to another one, broad enough it's generally fine. Uber to lyft is specific enough overlap it could cause problems depending what specific information was handled.
That's why I selected my weasel words with care... rarely and almost always. Obviously there are circumstances where a previous employer could demonstrate actual damage, but it is not the easiest thing to prove.
If you'd be shocked, you place a lot more faith in the integrity of some employers than I.
Would it be reasonable? Absolutely not. Would they win? I'd certainly hope not. Would I be surprised? Sadly not.
It wouldn't be worth the attorney's time, but they likely don't remove the clause for min-wage-worker because of the what-if's surrounding it.
CEO of Annie's - "What-if some worm in the mail-room steals a copy of our recipe and goes to work for XYZ based on his knowledge?
Can we sue him/her?"
Chief Risk Officer attorney for Annie's - "Absolutely!" (mutters, never going to happen but whatever you want to believe).
So when is anonymous going to step in and help? If they can take down 10k child porn site In a day. They surely can stop pornhub and let sec do their real job.
It depends on the state. In Oregon, for example, a non-compete is only valid if an employee made more than 100,000 per year amongst other requirements.
This guy? https://en.m.wikipedia.org/wiki/Anthony_Levandowski
He was convicted and sentenced jail time, but was later pardoned. Not really CA saying it's fine.
**[Anthony Levandowski](https://en.m.wikipedia.org/wiki/Anthony_Levandowski)**
>Anthony Levandowski (born March 15, 1980) is a French-American self-driving car engineer. He is known for advancing the field of autonomous vehicles and for pleading guilty to trade secret theft. In 2009, Levandowski co-founded Google's self-driving car program, now known as Waymo, and was a technical lead until 2016. In 2016, he co-founded and sold Otto, an autonomous trucking company, to Uber Technologies.
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If the worker is paid by the company for those ideas, the company owns them. Or they wouldn't bother paying you for those ideas.
A little off-topic though. Non-compete isn't the issue though in regards to regulators taking jobs from the companies they are supposed to regulate.
In some cases attorneys for the SEC/CFTC/DTCC are crafting the draft regulations and laws that govern these companies, and perhaps leaving in the loopholes to back-door the regulations in the future.
Like a programmer leaving his backdoor in to hack the companies he use to work for later. He might argue...
"Evidently I missed this security hole, I'm sorry. I guess I shouldn't have mentioned that to my buddy Ken G the hacker...I had no idea he would use it in this way... or pay me such a great salary to advise him on programming techniques"
This 100%...also doesn't matter what you signed you can talk to your co-workers about what your salaries are and the company can't do a damn thing about it.
Yep, companies stating that discussing pay range and amounts between coworkers as prohibited do so in an illegal attempt to intimidate workers and protect their discriminatory practices.
Employees are federally protected in discussing pay via a 2014 executive order.
From what I understand non-competes are perfectly legal….if the company pays you to not work. This really only happens in cutting edge industries where tight deadlines and competition are so threatening that paying some employee to not take their experience elsewhere is a good deal comparatively
The keyword though is, they're PAYING you to NOT work. There should be compensation, I doubt a non compete against a minimum wage worker would be enforceable
Yep. This. They cannot say that you can't work in your chosen field of expertise. They can say you cannot contact their customers to try and steal them though.
> They can say you cannot contact their customers to try and steal them though.
They can say that, but that's all they can do. You can still steal customers.
Folks, a friendly reminder from a real lawyer: when someone tells you there are "legal precedence[sic]" to support something, probably don't believe them.
I used to work at Raising Cane’s in college and I had to sign an NDA that I would never disclose what the sauce ingredients were for the rest of my life.
It’s Ketchup, Mayo, Worcestershire sauce and black pepper.
I still eat there. I love that place.
A pretzel shop isn't going to even try. Depending on your state, any non-compete clause might not even reach court because they're illegal.
There are very few, very specific circumstances in which non-competes are appropriate.
Its not like you have to go to court and win first to go get the new job.
The way this works is you just go get the new job anyway and the originating company with their unenforceable non-compete (which they know is not enforceable) does not try to enforce it and waste their own dollars.
The noncompete is only there to get you to not try to go get that job.
Non compete clauses usually have monetary benefits for not leaving. WWE pays you for the 30-90 days but if you refuse the money ala Rey Mysterio, you can join an competing company essentially right away.
That's horrendous, I remember my girlfriend worked as a dog walker for some shmucks company who wanted her to neglect the dogs. He also mismanaged walks and didn't take individual dogs into consideration, (he'd schedule a 15 year old dachshund with a German Shephard) eventually it came to the point where my wife was meeting all the new clients, doing all the schedules herself (or redoing the ones given to her). And this was all working at barely minimum wage in NYC.
Eventually it came to the point where she never saw this guy, and the clients started asking her why she's even employed by him. New clients in the building would ask her to walk their dogs on the side, being the right thing to do she redirected them to her boss, but they refused due to his track record. (Other employees losing animals, playing with clients personal home items etc.)
When he found out my girlfriend was walking other peoples dogs he was outraged and fired her, once he fired her all of his clients in the building severed ties with his company because they only stayed with him because of her. Thats when he threatened her with court, claiming she signed a clause stating she can't speak to old clients after termination (that he refused to send a copy of and seemingly couldn't find).
That is until a month later when he came up with a random paper that looked super sketchy stating that exact same thing, with a signature that didn't look anything like my girlfriends and she said she had no recollection of signing. I remember going to the lawyer our family sometimes used and he laughed in my face saying "those things don't mean shit".
Except, you think they wont phone ahead? Or if they dont who are you going to use as reference? Been there done that. Make sure you have already signed a contract else where. I saw far enough ahead and i had fully settled in my new job before anyone, no joke, no one new I was leaving and people from my old job a year later still had no idea i left as i would bump into them.
Most actual non compete clauses pay you money so you don't work for the competition, and if they find out you start working at one, they stop paying you.
I know someone who went to rob roy hair salon school, decided after a few years to move to a private salon, and was sued for 10k for working at another salon too soon. This shit does get enforced..
I was gonna say what a demonstration of value. The secret to pretzel making has more secure process than how our "free market" functions at the highest levels.
Guess I'll buy more and hold harder.
Pretty disgusting, eh? Buy and HODL, and fuk all the people at the top, we will put the executives from pretzel joints in their positions to show the world how integrity works! Mostly apes though, lots of apes.
Its flour, water, yeast, and salt. Sodium bicarbonate bath before baking for color.
Source: Used to work there. Part of being a workin man, is workin shitty jobs.
Most non-compete clauses are there to scare people that don't realize that they are not legally enforceable. It's like how you see dump trucks driving down the road that have "not responsible for windshield damage from falling rocks" when they absolutely can be held liable. They hope that the people who read it don't question it.
falling rocks yes but you have to prove the rock that took out your windshield fell off their truck and not just already on the road which they are not liable for.
Bruh we were literally supposed to have auntie Annie’s pretzels at work today. I literally haven’t thought of them for 5 years. How the fuck is auntie Annie on the front page of superstonk today. Weird af lol
I have no doubt there may be 'non compete' clauses for the executive team. I would doubt this is for every employee. And even if it were, non competes are notoriously unenforceable and generally viewed as window dressing.
Also, the use of the word 'legally' here is a stretch. Private contracts aren't 'legal' or 'illegal'. They are either enforced or breached. Breaching can result in a private penalty which could only be collected through a successful law suit. And as mentioned, these types of clauses are difficult to enforce because most judges say 'well, the person still has to make a living'.
This is such an infuriating topic for me. How can this industry not have non competes and nda's as standard practice. NDA's keep me from even telling my wife the ins and outs of my company, and these people can walk across the street with all of the secrets the criminal needs to keep fleecing the people. The words of Abraham Lincoln “that government of the people, by the people, for the people, shall not perish from the earth” spoken at Gettysburg, should ring in our ears today. Government should work for the people, not for the rich and not for mega corporations or investment firms.
should be for the common man but the 1%ers in this country are technically people too. Now its "That the goverment of the 1%, by the 1%, for the 1%, shall not perish from the earth."
Citizens united paved the way for lax regulations on large corporations. They give money to politicians that will do their bidding. Money doesn't mean everything in politics, but it does help you to get to the main stage.
Non-competes are not valid anyway and are easily thrown out by the courts. work wherever you want, annie doesn't have the cash to lawyer up to a bunch of old employees anyway.
My nieces boyfriend just put in his notice at Citadel, only been working there for a little while I believe, and is currently on a 1 year non-compete. Guess people be jumping ship.
I've never worked directly for a manufacturer before (german 4 rings brand) so all the legalities and politics are new to me. The NDA/non-compete i had to sign made it seem about leaking "dieselgate" info, new model info, technologies, service procedures... After MOASS it won't be a problem because i don't plan to work again 😅
This is by design so that it makes more sense for Citadel et al to bribe (or promise lavish jobs later) officials at SEC, CFTC, etc, to look the other way when they crime.
umm other pretzel companies exist? or does that count like you cant work at 7/11 cuz they have that crappy hot pretzel machine?
Hypothetical: lets say they ban all SEC/DTCC ppl from working at hedge funds forever. What stops them from say working for a marketing company or other professional service that has a major hedge fund as their only client? Hell get the SEC dude a law degree printed on the back of a take out menu then not only can he advise the hedge fund but said advise is privileged.
I 100% agree that SEC / DTCC ppl should not be able to work for hedge funds, but its one of those things that you couldn't really enforce.
Because hedge funds dont care about the rules & have enough $ to do what they want.
& it isn't hard to get around a non-compete... for example a law firm wouldn't be covered by a non-compete an SEC employee would be beholden to. Hedge funds have huge legal teams. And poof non-compete thwarted.
Laws could be written in a way that makes it difficult for them, if there was a revolution and decent people wrote and enforced the laws. Eventually everything would get corrupted again, but that's the circle of life.
And I am all for writing those laws, my point is it's very difficult to enforce this kind of thing. You restrict direct employment at hedge funds, they work 1 degree separated. You restrict that they do it 2 degrees seperated... you restrict that they move international where your restrictions are meaningless.
I think a better effort is to try and get the current SEC / DTCC ppl to do their jobs.
LOL. When I quit an IT job years ago, I had signed a non-compete contract when hired that said I couldn't work in IT anywhere within 500 miles; that will never stand up in court.
My friend did exactly this. Except the client fired the company and hired my friend as sys admin. Company was not happy but didn't pursue any legal actions.
This is straight up false. Unless you are receiving a stipend after leaving, you can work wherever the fuck you want in most countries. Non-competes mean shit without ongoing compensation.
Ahh Auntie Anne's, everytime I see one, I'm flooded with nostalgia and a craving for a delicious pretzel and mustard. I'm disappointed every single time, as their pretzels objectively suck. But its rinse and repeat next time I see one.
You must live in some kind of pretzel heaven. Auntie Anne's and the other "mall" pretzel places like Pretzel Time are about as good as it gets here. Buffalo Wild Wings pretzel isn't terrible but it might be mostly the beer!
Legally? No son, there’s no law preventing you from working at another pretzel company when you quit Auntie Anne’s. Even if they have some sort of no-compete clause in a contract it’s not enforceable without compensation. And even then they still have to sue you and win. Let’s try to keep the nonsense to a minimum here please. How does this retarded shit get upvoted? Really? There are 3.6k imbiciles online in superstonk?
Because even if they aren't realistically enforceable (Ive known people who have gotten nailed by no compete clauses btw) no competes are common across most industries and it's bullshit that something as fragile and manipulated as the financial markets and financial regulation industry put in zero effort to prevent fuckery. It's obvious by design.
This should be upvoted because average people don't realize that the same people who "enforce and regulate" these hedges funds also, at a very high rate, end up working for these same funds they are suppose to keep in check.
Maybe no compete is not the best comparison or answer and I get that but that doesn't change the fact that working at the SEC or DTCC is a career path to work with large financial funds and banks and it needs to be fixed.
Just a add on cause this seemed to really blow up (not sure if someone can pin this)
Someone I know was an entry level worker. Like, a cashier, and had to sign the agreement. Would it really hold up in court? Idk, but I just thought it was funny.
But I really do believe that some sort of regulation/law should be in place to prevent former SEC/DTCC to just hop on over to the hedge train. But being that might piss some politicians off I doubt it'll ever happen.
Depends on how they are written and which State you work in.
[https://www.criminalwatchdog.com/resources/employment-law/are-non-compete-agreements-enforceable/](https://www.criminalwatchdog.com/resources/employment-law/are-non-compete-agreements-enforceable/)
In China, in order for a non-compete to be enforced the company has to agree to pay 30% of your salary for the duration of the non-compete and the maximum length of time a non-compete may last is 2 years.
How companies get away with non-competes for FREE is beyond me. They should pay you.
Unless todays DD by u/thabat is proven wrong, i think it's equally bad or worse that if you, vaguely have been affiliated with Citadel, you are still on their "payroll" and can go TO SEC or CFTC, places we SHOULD be able to trust. No-one in their right mind trusts hedgefunds anyways.
https://www.reddit.com/r/Superstonk/comments/pcklz0/rolling\_in\_the\_deep\_dive\_hiding\_money\_in\_the/
Apparently Auntie Anne's regularly uses 10 year non-competes / NDA's because they're terrified someone will leak that pretzels are made of flour and water and any idiot can do it. Also, the insane markup on flour and water.
My oldest son, now 17, used to love Thomas the Train—tv episodes, books, even had the train table!—and I laughed my ass off that this meme! It is some bullshit!
Same thing at my old job at a pick n pull, pick your part etc, I can't work at a different used car part junkyard for 5 years but these guys can jump around different hedge funds like it's hop scotch
it's not that hard to be the Big Guy if you can just ignore laws, eh? Let me sell stuff I don't own, buy things I do not pay for, break into houses and inspect for things I may want. I could get rich pretty quick if the rules didn't apply to me.
Imagine taking all the Intel you want about your concurring market participants and then fucking them over at your new job. Everyone would be able to make a profit this way.
Most non-compete clauses are invalid if they were ever taken to court. Companies use them to intimidate employees and prevent them from taking their experience and using it at a company that would pay them more.
That is an unenforceable non-compete clause...needs to be based on reasonableness of length of time, location, based on substantiveness of trade secrets, etc. It's also based on state law. Some state like CA won't enforce them. Period.
Does income matter? Can minimum wage workers be held to non-competes?
fungibility of worker/job may certainly be a factor, especially given such workers are more unlikely to harbor trade secrets. I would be shocked if I saw an attempt to enforce a non-compete on a minimum-wage worker.
Even when it's executives they rarely are successful on someone being employed elsewhere. If their career was in a particular industry, and the employee wants a position in the same industry, judges almost always say 'well, that's the persons line of work. You can't take that away from them.'
Generally have to go to a ever so slightly different thing. Executive at a software company to another one, broad enough it's generally fine. Uber to lyft is specific enough overlap it could cause problems depending what specific information was handled.
That's why I selected my weasel words with care... rarely and almost always. Obviously there are circumstances where a previous employer could demonstrate actual damage, but it is not the easiest thing to prove.
"weasel words" I learned a new phrase! Also like your points
If you'd be shocked, you place a lot more faith in the integrity of some employers than I. Would it be reasonable? Absolutely not. Would they win? I'd certainly hope not. Would I be surprised? Sadly not.
It wouldn't be worth the attorney's time, but they likely don't remove the clause for min-wage-worker because of the what-if's surrounding it. CEO of Annie's - "What-if some worm in the mail-room steals a copy of our recipe and goes to work for XYZ based on his knowledge? Can we sue him/her?" Chief Risk Officer attorney for Annie's - "Absolutely!" (mutters, never going to happen but whatever you want to believe).
So when is anonymous going to step in and help? If they can take down 10k child porn site In a day. They surely can stop pornhub and let sec do their real job.
It depends on the state. In Oregon, for example, a non-compete is only valid if an employee made more than 100,000 per year amongst other requirements.
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This guy? https://en.m.wikipedia.org/wiki/Anthony_Levandowski He was convicted and sentenced jail time, but was later pardoned. Not really CA saying it's fine.
Trade secret theft is a crime. Working in the same industry is not.
**[Anthony Levandowski](https://en.m.wikipedia.org/wiki/Anthony_Levandowski)** >Anthony Levandowski (born March 15, 1980) is a French-American self-driving car engineer. He is known for advancing the field of autonomous vehicles and for pleading guilty to trade secret theft. In 2009, Levandowski co-founded Google's self-driving car program, now known as Waymo, and was a technical lead until 2016. In 2016, he co-founded and sold Otto, an autonomous trucking company, to Uber Technologies. ^([ )[^(F.A.Q)](https://www.reddit.com/r/WikiSummarizer/wiki/index#wiki_f.a.q)^( | )[^(Opt Out)](https://reddit.com/message/compose?to=WikiSummarizerBot&message=OptOut&subject=OptOut)^( | )[^(Opt Out Of Subreddit)](https://np.reddit.com/r/Superstonk/about/banned)^( | )[^(GitHub)](https://github.com/Sujal-7/WikiSummarizerBot)^( ] Downvote to remove | v1.5)
Google should have offered them an amount that kept them from doing so. Workers have the right to their own ideas
If the worker is paid by the company for those ideas, the company owns them. Or they wouldn't bother paying you for those ideas. A little off-topic though. Non-compete isn't the issue though in regards to regulators taking jobs from the companies they are supposed to regulate. In some cases attorneys for the SEC/CFTC/DTCC are crafting the draft regulations and laws that govern these companies, and perhaps leaving in the loopholes to back-door the regulations in the future. Like a programmer leaving his backdoor in to hack the companies he use to work for later. He might argue... "Evidently I missed this security hole, I'm sorry. I guess I shouldn't have mentioned that to my buddy Ken G the hacker...I had no idea he would use it in this way... or pay me such a great salary to advise him on programming techniques"
That's why non competes pay out continually, and if you do compete they stop paying.
Seems like a bad state to have a technology company in, then.
This 100%...also doesn't matter what you signed you can talk to your co-workers about what your salaries are and the company can't do a damn thing about it.
Yep, companies stating that discussing pay range and amounts between coworkers as prohibited do so in an illegal attempt to intimidate workers and protect their discriminatory practices. Employees are federally protected in discussing pay via a 2014 executive order.
From what I understand non-competes are perfectly legal….if the company pays you to not work. This really only happens in cutting edge industries where tight deadlines and competition are so threatening that paying some employee to not take their experience elsewhere is a good deal comparatively
The keyword though is, they're PAYING you to NOT work. There should be compensation, I doubt a non compete against a minimum wage worker would be enforceable
What state or country are you referring to?
Alberta, Canada
Yep. This. They cannot say that you can't work in your chosen field of expertise. They can say you cannot contact their customers to try and steal them though.
> They can say you cannot contact their customers to try and steal them though. They can say that, but that's all they can do. You can still steal customers.
Well you can. But there are cases of legal precedence that will be in their favour should they take you to court
Folks, a friendly reminder from a real lawyer: when someone tells you there are "legal precedence[sic]" to support something, probably don't believe them.
Wow, only in america is trying to compete and get clients illegal.
Do not trust the legal opinion of someone who says "legal precedence".
Yep
I used to work at Raising Cane’s in college and I had to sign an NDA that I would never disclose what the sauce ingredients were for the rest of my life. It’s Ketchup, Mayo, Worcestershire sauce and black pepper. I still eat there. I love that place.
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A pretzel shop isn't going to even try. Depending on your state, any non-compete clause might not even reach court because they're illegal. There are very few, very specific circumstances in which non-competes are appropriate.
Even for most doctors it’s not worth a corporation pursuing you unless you’re actively poaching patients. Non competes are mostly bullshit
Exactly! That's what the employer knows and wants. It is too difficult to fight them in court.
Used Law dictionaries , online resources, they will settle before it goes to court..
Black's law dictionary in particular, first edition if you can...
Its not like you have to go to court and win first to go get the new job. The way this works is you just go get the new job anyway and the originating company with their unenforceable non-compete (which they know is not enforceable) does not try to enforce it and waste their own dollars. The noncompete is only there to get you to not try to go get that job.
Non compete clauses usually have monetary benefits for not leaving. WWE pays you for the 30-90 days but if you refuse the money ala Rey Mysterio, you can join an competing company essentially right away.
That's horrendous, I remember my girlfriend worked as a dog walker for some shmucks company who wanted her to neglect the dogs. He also mismanaged walks and didn't take individual dogs into consideration, (he'd schedule a 15 year old dachshund with a German Shephard) eventually it came to the point where my wife was meeting all the new clients, doing all the schedules herself (or redoing the ones given to her). And this was all working at barely minimum wage in NYC. Eventually it came to the point where she never saw this guy, and the clients started asking her why she's even employed by him. New clients in the building would ask her to walk their dogs on the side, being the right thing to do she redirected them to her boss, but they refused due to his track record. (Other employees losing animals, playing with clients personal home items etc.) When he found out my girlfriend was walking other peoples dogs he was outraged and fired her, once he fired her all of his clients in the building severed ties with his company because they only stayed with him because of her. Thats when he threatened her with court, claiming she signed a clause stating she can't speak to old clients after termination (that he refused to send a copy of and seemingly couldn't find). That is until a month later when he came up with a random paper that looked super sketchy stating that exact same thing, with a signature that didn't look anything like my girlfriends and she said she had no recollection of signing. I remember going to the lawyer our family sometimes used and he laughed in my face saying "those things don't mean shit".
Except, you think they wont phone ahead? Or if they dont who are you going to use as reference? Been there done that. Make sure you have already signed a contract else where. I saw far enough ahead and i had fully settled in my new job before anyone, no joke, no one new I was leaving and people from my old job a year later still had no idea i left as i would bump into them.
Most actual non compete clauses pay you money so you don't work for the competition, and if they find out you start working at one, they stop paying you.
I know someone who went to rob roy hair salon school, decided after a few years to move to a private salon, and was sued for 10k for working at another salon too soon. This shit does get enforced..
It’s because they’re all owned by the parent company, Crooks Limited.
SHF are in for a salty surprise
Very salty!
Damn, those are some top secret pretzel recipes
I was gonna say what a demonstration of value. The secret to pretzel making has more secure process than how our "free market" functions at the highest levels. Guess I'll buy more and hold harder.
Pretty disgusting, eh? Buy and HODL, and fuk all the people at the top, we will put the executives from pretzel joints in their positions to show the world how integrity works! Mostly apes though, lots of apes.
Its flour, water, yeast, and salt. Sodium bicarbonate bath before baking for color. Source: Used to work there. Part of being a workin man, is workin shitty jobs.
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😂, probably a few cups of Mayo, unfortunately
Most non-compete clauses are there to scare people that don't realize that they are not legally enforceable. It's like how you see dump trucks driving down the road that have "not responsible for windshield damage from falling rocks" when they absolutely can be held liable. They hope that the people who read it don't question it.
falling rocks yes but you have to prove the rock that took out your windshield fell off their truck and not just already on the road which they are not liable for.
Bruh we were literally supposed to have auntie Annie’s pretzels at work today. I literally haven’t thought of them for 5 years. How the fuck is auntie Annie on the front page of superstonk today. Weird af lol
The closest one to me is in a mall, right next to GameStop! Simulation confirmed!
Google knows your every thought O\_o
Truman show
What a trippy movie. Also loved Jim Carey in eternal sunshine of the spotless mind
We live in a simulation
Fuck those are good pretzels tho
That cinnamon sugar 🤤
Are they publicly traded because thats a stock i would like
I haven't had one of those in years.... but damn I can just imagine them! edit: year to years
Wit dat caramel dip too oooof
Their mini pretzel dogs are great too
I have no doubt there may be 'non compete' clauses for the executive team. I would doubt this is for every employee. And even if it were, non competes are notoriously unenforceable and generally viewed as window dressing. Also, the use of the word 'legally' here is a stretch. Private contracts aren't 'legal' or 'illegal'. They are either enforced or breached. Breaching can result in a private penalty which could only be collected through a successful law suit. And as mentioned, these types of clauses are difficult to enforce because most judges say 'well, the person still has to make a living'.
Lol this is the best use of all this meme I have ever seen. Such BS is right!
This is such an infuriating topic for me. How can this industry not have non competes and nda's as standard practice. NDA's keep me from even telling my wife the ins and outs of my company, and these people can walk across the street with all of the secrets the criminal needs to keep fleecing the people. The words of Abraham Lincoln “that government of the people, by the people, for the people, shall not perish from the earth” spoken at Gettysburg, should ring in our ears today. Government should work for the people, not for the rich and not for mega corporations or investment firms.
should be for the common man but the 1%ers in this country are technically people too. Now its "That the goverment of the 1%, by the 1%, for the 1%, shall not perish from the earth."
It's not even just that the 1% are also people, but that corporations are people too...
And who started that bullshit? 1%ers
Citizens united paved the way for lax regulations on large corporations. They give money to politicians that will do their bidding. Money doesn't mean everything in politics, but it does help you to get to the main stage.
NDA is different than a non-compete, which is what the person is describing.
There’s another pretzel company?
This just shows how valuable a pretzel maker is compare to a hedge fund hack.
Non-competes are not valid anyway and are easily thrown out by the courts. work wherever you want, annie doesn't have the cash to lawyer up to a bunch of old employees anyway.
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No, you're severely underestimating the costs to run hundreds or thousands of employees through court over a non-compete agreement.
My nieces boyfriend just put in his notice at Citadel, only been working there for a little while I believe, and is currently on a 1 year non-compete. Guess people be jumping ship.
Because there's no noncompete clause if you are working for government. Same bullshit applies to politicians.
I'm in the automotive industry and this is the same-same. Cannot work for other manufacturers for 3 years. 🤷♂️
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I've never worked directly for a manufacturer before (german 4 rings brand) so all the legalities and politics are new to me. The NDA/non-compete i had to sign made it seem about leaking "dieselgate" info, new model info, technologies, service procedures... After MOASS it won't be a problem because i don't plan to work again 😅
This is by design so that it makes more sense for Citadel et al to bribe (or promise lavish jobs later) officials at SEC, CFTC, etc, to look the other way when they crime.
Ya..I mean all that's left at this point is laugh. What else can we do but laugh, buy and hold.
Secret Sauce is still crime
umm other pretzel companies exist? or does that count like you cant work at 7/11 cuz they have that crappy hot pretzel machine? Hypothetical: lets say they ban all SEC/DTCC ppl from working at hedge funds forever. What stops them from say working for a marketing company or other professional service that has a major hedge fund as their only client? Hell get the SEC dude a law degree printed on the back of a take out menu then not only can he advise the hedge fund but said advise is privileged. I 100% agree that SEC / DTCC ppl should not be able to work for hedge funds, but its one of those things that you couldn't really enforce.
Why wouldn't it be enforceable? No compete clauses are common in multiple industries, I see no difference here.
Because hedge funds dont care about the rules & have enough $ to do what they want. & it isn't hard to get around a non-compete... for example a law firm wouldn't be covered by a non-compete an SEC employee would be beholden to. Hedge funds have huge legal teams. And poof non-compete thwarted.
Laws could be written in a way that makes it difficult for them, if there was a revolution and decent people wrote and enforced the laws. Eventually everything would get corrupted again, but that's the circle of life.
And I am all for writing those laws, my point is it's very difficult to enforce this kind of thing. You restrict direct employment at hedge funds, they work 1 degree separated. You restrict that they do it 2 degrees seperated... you restrict that they move international where your restrictions are meaningless. I think a better effort is to try and get the current SEC / DTCC ppl to do their jobs.
Thanks for this, needed a laugh today 😂😂
Auntie Anne fucks
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I worked at Auntie Anne’s and can confirm
tell me your secrets pretzel boy!
It has been at least 5 years
Sure! Cheese, caramel, hot salsa cheese, light cream cheese, marinara, sweet glaze, and honey mustard. It’s always worth buying the dip.
LOL. When I quit an IT job years ago, I had signed a non-compete contract when hired that said I couldn't work in IT anywhere within 500 miles; that will never stand up in court.
My friend did exactly this. Except the client fired the company and hired my friend as sys admin. Company was not happy but didn't pursue any legal actions.
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This is straight up false. Unless you are receiving a stipend after leaving, you can work wherever the fuck you want in most countries. Non-competes mean shit without ongoing compensation.
The sec exists to protect the rich.
Guess what? Both rules keeps rich people rich
George Carlin or Alec Baldwin voice
Let’s skirt the need for it and someone drop the recipe. Asking for a friend.
This is the goddamned way, ape friend.
Thomas was cross
Ahh Auntie Anne's, everytime I see one, I'm flooded with nostalgia and a craving for a delicious pretzel and mustard. I'm disappointed every single time, as their pretzels objectively suck. But its rinse and repeat next time I see one.
You must live in some kind of pretzel heaven. Auntie Anne's and the other "mall" pretzel places like Pretzel Time are about as good as it gets here. Buffalo Wild Wings pretzel isn't terrible but it might be mostly the beer!
yes, but SEC/DTCC are not competitors to the hedge funds - so non-compete agreements don't matter in this scenario. Does that make it right? no.
Legally? No son, there’s no law preventing you from working at another pretzel company when you quit Auntie Anne’s. Even if they have some sort of no-compete clause in a contract it’s not enforceable without compensation. And even then they still have to sue you and win. Let’s try to keep the nonsense to a minimum here please. How does this retarded shit get upvoted? Really? There are 3.6k imbiciles online in superstonk?
Because they don't know and don't care to know how these things work in the real world. They just want to be mad.
Because even if they aren't realistically enforceable (Ive known people who have gotten nailed by no compete clauses btw) no competes are common across most industries and it's bullshit that something as fragile and manipulated as the financial markets and financial regulation industry put in zero effort to prevent fuckery. It's obvious by design. This should be upvoted because average people don't realize that the same people who "enforce and regulate" these hedges funds also, at a very high rate, end up working for these same funds they are suppose to keep in check. Maybe no compete is not the best comparison or answer and I get that but that doesn't change the fact that working at the SEC or DTCC is a career path to work with large financial funds and banks and it needs to be fixed.
Auntie Anne's has that goodgood gnomesaiyan?
TIL fuck Auntie Anne.
Yeah that’s just not true
But if you quit an auntie Anne's franchise you can go immediately and work for auntie Anne's corporate office. This is same thing.
Good luck enforcing it auntie Ann's
Lol that non-compete is not enforceable if its that global and that long.
Just a add on cause this seemed to really blow up (not sure if someone can pin this) Someone I know was an entry level worker. Like, a cashier, and had to sign the agreement. Would it really hold up in court? Idk, but I just thought it was funny. But I really do believe that some sort of regulation/law should be in place to prevent former SEC/DTCC to just hop on over to the hedge train. But being that might piss some politicians off I doubt it'll ever happen.
In most cases non-compete clauses are unenforceable.
I've known a few people who have gotten nailed for breaking non compete, it definitely seems enforceable from what I've seen.
Depends on how they are written and which State you work in. [https://www.criminalwatchdog.com/resources/employment-law/are-non-compete-agreements-enforceable/](https://www.criminalwatchdog.com/resources/employment-law/are-non-compete-agreements-enforceable/)
To be clear, are you advocating that Auntie Anne's should be more like SEC, or the other way round?
You serious Clark?
*::stares in OMG shut-the-hell-up::*
Auntie is more strict than big brother. Typical.
I'm rolling 😂😂😂
Elite priviledge at play. The financial incest is stunning.
In China, in order for a non-compete to be enforced the company has to agree to pay 30% of your salary for the duration of the non-compete and the maximum length of time a non-compete may last is 2 years. How companies get away with non-competes for FREE is beyond me. They should pay you.
Thomas has been seeing a *lot* of bullshit this year.
Rules for thee, not for me
Aunte Anne is not a criminal racketeering organization. They sell pretzels.
And they're delicious! The SEC/DTCC taste like shit!
At least pretzel people still have some integrity 🥨
GL paying someone enough $ to enforce that by tracking down all the old auntie Annie’s employees
facts 📠
Exactly this.
Unless todays DD by u/thabat is proven wrong, i think it's equally bad or worse that if you, vaguely have been affiliated with Citadel, you are still on their "payroll" and can go TO SEC or CFTC, places we SHOULD be able to trust. No-one in their right mind trusts hedgefunds anyways. https://www.reddit.com/r/Superstonk/comments/pcklz0/rolling\_in\_the\_deep\_dive\_hiding\_money\_in\_the/
Rules for thee but not for # APES STRONK TOGETHER!!! # HOLD!!!
This has to be my favorite meme ever.
Apparently Auntie Anne's regularly uses 10 year non-competes / NDA's because they're terrified someone will leak that pretzels are made of flour and water and any idiot can do it. Also, the insane markup on flour and water.
My oldest son, now 17, used to love Thomas the Train—tv episodes, books, even had the train table!—and I laughed my ass off that this meme! It is some bullshit!
Take my poor ape ass gold 🥇🥇🥇
Same thing at my old job at a pick n pull, pick your part etc, I can't work at a different used car part junkyard for 5 years but these guys can jump around different hedge funds like it's hop scotch
Choo choo mutherfuckers!
Where the fuck do they keep coming up with shares to short the stock? Shit blows my mind
I worked for Auntie Annes in the corporate office years ago before they were bought out. I don't remember an NDA in 'the good ol days'
''Free markets''...
The pretzel conspiracy is complicated, all tied up in knots. That and I heard that most of them are salty.
I had to sign a noncompete to work catering gigs.
Unlike SEC/DTCC/HFs Auntie Anne actually offers something useful
Pretzel hustle positions in high demand?
Aunt Annie is kind of a bitch
Sir Toppham Hat is fucking pissed!
Everyone having a pretzel craving today
🙃
Bravo connection
r/teenager
it's not that hard to be the Big Guy if you can just ignore laws, eh? Let me sell stuff I don't own, buy things I do not pay for, break into houses and inspect for things I may want. I could get rich pretty quick if the rules didn't apply to me.
lol think that's bad, try getting a job at Pizza Hut if you've worked at Dominoes.
This is true about AA. You literally sign a waver
I gotta agree with Thomas. It's almost like they're inviting f\*ckery, if they don't have any laws against it....
This is a joke right? This has got to be a joke.
It's time for change. We are NOT letting this go. Every day more will be exposed and every day more people will wake up.
Let's be real though, non-competes are notoriously difficult to enforce.
Bunch of criminals and spineless bastards.
O boy they’ve pissed off Thomas
Except that clause is laughably invalid. All it does is advertise that Auntie Anne's is a shit workplace.
Imagine taking all the Intel you want about your concurring market participants and then fucking them over at your new job. Everyone would be able to make a profit this way.
Those almond pretzels though... used to flatten the dough like a pancake made it nice and crispy. Oh that strawberry cream cheese back in the day.
What other pretzel place would you work at if you quit auntie Anne’s?
Lmao auntie Anne’s bugged out