/Top business news: Tech salaries, Conde Nast video, clean energy – Business Insider

Top business news: Tech salaries, Conde Nast video, clean energy – Business Insider


Hello everyone! Welcome to this weekly roundup of Business Insider stories from executive editor Matt Turner. Please subscribe to Business Insider here to get this newsletter in your inbox every Sunday.

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Skye Gould/Business Insider


Hello!

Tech companies splash out huge sums of cash to attract top talent, as Rob Price reported this week.

How much exactly? From his story:

Compensation overall remains a closely guarded secret, with firms refusing to disclose their rates as employees take to forums and anonymous social networks to compare pay packets.

But there’s one organization that knows exactly how much tech workers are getting paid: the US government.

When American companies file paperwork for visas on behalf of current or prospective foreign workers, they’re required to say how much compensation the workers are being offered. And every year, the Office of Foreign Labor Certification discloses this salary data in an enormous, enlightening dataset.

Rob worked with Skye Gould and William Edwards to analyze this data to see how 13 key companies, including Amazon, Apple, Facebook, Google, Microsoft, and Netflix, pay their staff.

To be sure, there are caveats. For example, the data relates to the 2019 fiscal year. A lot has changed since then. The data only reveals what companies pay foreign workers in roles for which they have hired immigrant workers. And the database also does not appear to include equity grants. Still, as Rob reports, the data is a powerful tool. From his story:

If you’re applying for a certain job, how much should you ask for? If you transfer internally, how might that affect your pay? Are you being underpaid compared with your coworkers?

You can read the full story here:

Big Tech salaries revealed: How much Apple, Tesla, Amazon, and 10 other tech giants pay their workers, from engineers to salespeople

Condé Nast’s video vetting

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YouTube; Samantha Lee/Business Insider


I want to highlight three stories from the past week that build on previous reporting on Condé Nast, GMMB, and CrossFit.

Rachel Premack talked to 13 current and former employees of Condé Nast Entertainment, the famed publisher’s video-production entity, about the process through which videos are pitched and produced. From her story:

Sources said this vetting process, which measures the various parts of a pitch against historical data, consistently rejected video pitches that would feature people of color and topics about nonwhite communities.

You can read the story in full here:

Condé Nast employees say Black celebrities like Lizzo and Megan Thee Stallion were rejected from videos based on a ‘racist’ vetting process

Sean Czarnecki talked to 26 current and former employees of GMMB, 15 of whom identify as people of color. From his story:

While the firm touts its progressive work, these employees say the agency relegated employees of color to administrative work like office chores, failed to promote them equally, and tokenized them to win new business.

You can read the story in full here:

Insiders at Omnicom agency GMMB say the workplace is rife with ‘systemic’ racism, where people of color are tokenized and treated like ‘the help’

Lastly, Katie Warren and Gabby Landsverk reported:

CrossFit founder Greg Glassman stepped down from his role as CEO on June 9 after one of his tweets was met with widespread backlash. Business Insider has obtained a 50-minute audio clip in which two people — a male and a female — can be heard talking. The woman has identified herself to Business Insider as Lisa Lugo, a former CrossFit employee. Three sources allege the male voice in the video is Glassman’s.

In the clip, the man can be heard saying to Lugo, “It’s enough for me to slit your f—–g throat.”

You can read the story in full here:

A CrossFit employee who had a relationship with former CEO Greg Glassman says she has audio of him threatening her in a hotel room and saying: ‘It’s enough for me to slit your f—–g throat’

The future of clean energy

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Justin Knight/Swift Solar; Etosha Cave/Opus 12; Imprint Energy; Carbon Lighthouse; Yuqing Liu/Business Insider


From Benji Jones:

An enormous transition is underway across the electric grid.

Power plants that run on fossil fuels are being replaced by solar panels and wind farms, while more batteries and electric vehicles are plugging in.

Once niche, the clean energy industry is going mainstream. Goldman Sachs says it’s an investment opportunity worth as much as $16 trillion through 2030.

Within the industry, researchers, entrepreneurs, and workers are bringing a wide range of solutions to bear, from batteries that store energy in molten salt to water turbines that are fish-friendly.

Business Insider has identified the 21 emerging leaders in clean energy that we think everyone should know.

You can read the story in full here:

Meet the 21 rising stars who are transforming the future of clean energy and taking on a $16 trillion opportunity

Before I go, I want to highlight a couple of online events we have coming up. From finance editor Michelle Abrego:

One-click checkout startup Fast raised its $20 million Series A from investors including Index Ventures and buzzy fintech Stripe in May as it looks to take on Apple Pay to solve pain-points around password management and online checkout.

Join Business Insider reporter Shannen Balogh on Tuesday, July 14 at 1:30 p.m when she will speak with Domm Holland, Fast’s cofounder and CEO, and Jan Hammer, general partner at Index Venture. They’ll discuss how Holland came up with the idea for Fast, how to build a pitch deck, and what it takes to win over investors.

If you’re a Business Insider subscriber, you can sign up here.

You can also join Business Insider on July 8 at 12 p.m. ET for “Planning for the Future in Uncertain Times,” a free digital event and part of the Master Your Money series. Presented by Fidelity, it will explore components of a strong financial plan and how to adjust it given recent events. 

Click here to register for the Master your Money event.

Below are headlines on some of the stories you might have missed from the past week.

— Matt

Tucker Carlson for president? GOP donors and conservative media are taking the idea seriously

The most accurate tech analyst on Wall Street says these 6 stocks have potential for huge gains as they transform the sector

After flashy hires and a big buildout, Perella Weinberg’s media and telecom team has been gutted. We tracked the exodus — and what it says about the landscape for blockbuster M&A deals.

LEAKED MEMO: Alphabet’s healthcare unit Verily suspended bonuses mid-pandemic to fund diversity programs instead, frustrating employees

Fredrik Eklund, the founder of a bicoastal team that signed $100 million in new contracts in one week, swears by this daily routine from 6 a.m. to 10 p.m.

Leaked memo reveals American Airlines needs to cut up to 8,000 flight-attendant jobs as the airline issues its first coronavirus layoff notices

Some Amazon merchants are selling their businesses for more than $30 million as COVID-19 boosts the value of online retail: ‘It’s a seller’s market’

How to get a $100,000-plus career in cloud computing without a college degree, from a guy who did it and now coaches others

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