Nvidia, the tech giant renowned for its dominance in artificial intelligence (AI) and graphics processing units (GPUs), has seen its stock price soar to unprecedented heights.
As a result, many of its employees have become overnight millionaires. But behind the scenes, there’s a darker reality—one of grueling workdays, sleepless nights, and deferred dreams.
The Millionaire Paradox
Nvidia’s stock price has skyrocketed by over 3,775 percent since 2019, turning stock grants into golden tickets for employees.
These newly minted millionaires can afford luxury cars and multimillion-dollar homes, yet their lives remain tethered to the company. Here’s why:
Stock Vesting Delays: Nvidia’s compensation strategy involves stock packages that vest four years after they’re granted. Until then, employees cannot sell their shares. As one employee put it, “We’re rich on paper, but cash-poor.”
Endless Workdays: Current and former employees reveal a relentless work culture. Days stretch into nights, with some engineering teams burning the midnight oil until 2 am. Nvidia CEO Jensen Huang, known for his “torture into greatness” philosophy, fosters this culture.
No Rest and Vest: Unlike other tech companies with a “rest and vest” approach (where employees bide their time playing video games until stocks vest), Nvidia’s employees face scrutiny if they’re caught idling. Shame and ridicule await those who don’t keep pushing.
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The Attrition Dilemma
Despite the challenges, Nvidia’s retention rate has improved significantly.
When the company achieved a staggering $1 trillion market capitalization, attrition dropped by almost half—from 5.3 percent to 2.7 percent. Employees grapple with exhaustion, stress, and missed family moments.
A former employee, who did not wish to be identified, told Bloomberg that working at the California-headquartered company was like being in a “pressure cooker”.
Nvidia CEO’S Perspective
Jensen, 61, had said earlier this year that he prefers to “torture” his employees “into greatness” instead of firing them.
Huang said in an interview in June, “And so it’s tongue in cheek, but people know that I rather torture them into greatness.”
He added, “So, I would rather torture you into greatness because I believe in you.”
“And I think coaches that that really believe in their team, torture them into greatness. And oftentimes, they’re so close, don’t give up. They’re so close to greatness,” he said.
Jensen Huang co-founded Nvidia Corp. in 1993 and currently owns about three per cent of the company.
With a net worth of $40.7 billion, Jensen is the 17th richest person in America and the 76th richest person in the world, according to Forbes.
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