After falling far behind the rest of industry, Blue Origin creates new stock option plan
"It's a big fat middle finger for those that thought they had something."
Editor's note: On Monday afternoon, Blue Origin chief executive Dave Limp sent employees an email announcing a "new stock option" plan that would allow all employees to participate in and eventually convert vested options. This article explains why this is so important for the company in the competitive space industry.
Two years after he founded his space company in the summer of 2004, Jeff Bezos penned a letter that greeted new employees with the message, "Welcome to Blue Origin!" A copy of this letter was subsequently given to new employees for nearly two decades.
At one point in the letter, Bezos questioned whether Blue Origin was a good investment.
"I accept that Blue Origin will not meet a reasonable investor's expectations for return on investment over a typical investing horizon," Bezos wrote. "It's important to the peace of mind of those at Blue to know I won't be surprised or disappointed when this prediction comes true. On the other hand, I do expect that over a very long-term horizon—perhaps even decades from now—Blue will be self-sustaining and operationally profitable, and will yield returns."
This story was first published by Ars Technica. Read the original report