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Gday Mates! Here's what we have for you today:
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 🐝:
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Please contact firstname.lastname@example.org or email@example.com for further details.
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