Work from anywhere for less pay
Here are three of the week’s top pieces of financial insight, gathered from around the web: Robinhood gets a challengerAn Israeli online-trading platform is challenging Robinhood for “the hearts and wallets of rookie traders,” said Edward Robinson and Justina Lee at Bloomberg. Tel Aviv–based eToro has attracted 15 million users worldwide — about the same level as Robinhood — and plans to expand in
to the U.S. in early 2021. EToro’s hook is “social investing” — letting customers share their “market exploits and opinions” or even replicate bets by other traders. “Think Facebook meets eTrade.” With a tap of a button, users can “automatically duplicate trades of dozens of other customers that eToro has designated Popular Investors.” The No. 1 copytrader on the site is a 32-year-old in southern England known as Jaynemesis, who has “more than 21,000 people with $40 million in assets who copy his trades.” Fortunately for his followers, Jaynemesis is up 62 percent for the year.
Tesla’s one-click, $4,280-upgrade snafuTesla owners keep buying expensive software upgrades by butt-dialing the company’s app, said Lora Kolodny at CNBC. Last month, Ali Vaziri was “unpleasantly surprised by a mobile alert from his bank, which said he had just purchased a $4,280 upgrade for his Tesla Model 3.” Though he’d never purchased anything through Tesla’s app before, Vaziri surmised that he’d ordered the “Enhanced Autopilot” upgrade by accident. “My phone was in my jeans,” Vaziri said. Other owners have reported similar issues with accidental orders — and troubles obtaining refunds. When one Tesla owner tweeted about “an accidental purchase of an ‘Acceleration’ upgrade,” costing about $2,000, CEO Elon Musk responded on Twitter, “Trust ur butt haha.” ‘Work from anywhere’ — for less payTech workers taking up offers to move from Silicon Valley and work remotely are finding an unexpected downside, said Katherine Bindley and Eliot Brown at The Wall Street Journal: pay cuts. “In some cases, changes can include cutting salaries by 15 percent or more” when workers move to lower-cost locales. To soften the blow, some companies are offering one-time relocation bonuses; at the payment company Stripe, that can be $20,000. But tech talent agents discourage clients from going that route, because taking pay cuts tied to relocation will have negative long-term effects on careers and earnings potential. One advised a relocating client to ask for a promotion that would offset any pay cut. This article was first published in the latest issue of The Week magazine. If you want to read more like it, you can try six risk-free issues of the magazine here.
Date: 2020-10-17
URL: https://theweek.com/articles/943917/work-from-anywhere--less-pay
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