Non-compete agreements: A crucial element in the rise of Silicon Valley?

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The Profiteers

January 17, 2023

Gday Mates! Here's what we have for you today:

  • FTC is going bonkers on non-compete protections
  • The Quickest Way to Tick Off Your Former Employer with a non-compete
  • Quotable Captains
  • Off Market Booty - Medical Screening Company for Sale!

The Federal Trade Commission (FTC) dropped a bomb 💣 on the business world when it announced that it wants to ban non-compete employee restrictions nationwide 🤯 . . . Biden is straight up flexin’ 💪, but the business folks are saying “NOT SO FAST MY FRIEND!” 🛑 🤚

🥊 FTC v. Business World 🥊

FTC's Position: Let’s just rid of non-competes so workers can move from job-to-job with no drama, and it will increase wages/salaries by like $300 billion with more competition and job movement. Exhibit A: Silicon Valley.

Some believe that the Silicon Valley tech world started and continued to grow because California hates non-competes. Funny enough, Boston could have been the East Coast version of Silicon Valley, but Massachusetts loved those non-competes back in the day (imagine Boston Fans + Silicon Valley 💰💰= brutal 👎 😟!)

Business World's Position : Uhhhh . . . we need these non-competes so employees don’t take our secrets 🤐 (which took a lot of time 🕰 and money 💰 to develop), walk across the street🚶, and compete with us after providing all that training, those free lunches 🍗, and the monthly birthday cake celebrations 🎂. And … by the way, FTC … we don’t think you can even legally ⚖️ do it, so back off! 

Vegas odds 🎲: + 500,000 … nothing is gonna happen nationwide, but it started a larger discussion about dropping these non-competes that some states may choose to follow the Cali model hoping to create another tech hub.

A few staffing and recruiting companies for sale to check out:

What Happens When You Jump Ship And Violate the Non-Compete Clause

You’re sitting at your desk and say to yourself 🤔 “I’m basically doing most of the work and my boss is making 10x more than me . . . YOLO 💥 . . screw this company 😡. . . I’m soooo done . . . time to jump ship and be my own boss!”

Well, here's how it will likely go down after you stir up your employer’s hornet’s nest 🐝:

  • Thumb Drive Guy Thinks He’s Savvy - Thumb drive guy 😎 downloads the super secret client list 💼 on a thumb drive or a file transfer platform and thinks no one will figure it out. 🙌  He sends himself the client list to his personal computer 💻 eager to use it at his new competitive shop.
  • IT Guy 🤓 & Company Software Are Too Strong 💪 - Companies have software that monitors your activity and IT Guy 🤓 will get the immediately alert, and or he will look closer at your activity several weeks before your last day of employment.
  • Lawyer Guy ⚖️ Threatens To Bring You Down 🥊 - It’ll take less than 30 days before thumb drive guy gets the lawyer love note ⚖️🥊. It will basically say, “Hey buddy, you took our client list . . . we’re taking you to court and seeking lots of 💰💰 from you, personally, for taking the client list. And we have lots of money to fight, and you have a few credit cards . . . good luck!”
  • Prayer 🙏 You Can Fix It Quickly - Companies don’t want to fight with a former employee but will be forced to if Thumb Drive Guy doubles down. The Company has to protect its secrets so it will fight to the legal death if Thumb Drive Guy is up for the fight 🥊. More commonly, the company makes Thumb Drive Guy return/destroy the client list and signs something that the company can take him down immediately if it happens again.

"Turnkey" Medical Screening Company For Sale - an established medical screening company is looking for a buyer to take over its streamlined operation with long-term customer relationships. It specializes in performing onsite medical screening (heart disease, vascular disease, cancer, and COVID) for a wide variety of companies.  Preventive healthcare is a rapidly growing and this onsite screening provides a "win-win" proposition for any company looking to include an additional benefit for its employees at a reasonable cost.

Please contact or for further details. 

That's a wrap for today. Go get that booty  & see ya Friday! If you want more, be sure to follow our Twitter (@DealMavenio)

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