All I can really find is that Google's operating expenses are around $261 billion as of this year[1], and their revenue was $385[2] — and since operating expenses are usually at least substantially payroll, it's hard to tell
It's unlikely that this is mostly for payroll. From AI I got:
"median total compensation per employee was approximately $279,802 in 2022, and with 183,323 employees at the end of 2024, total estimated compensation (salary + equity + benefits) likely exceeds $50 billion, or ~14–15% of total revenue"
So maybe it's not 1% as in Varoufakis talk but even if it's 15% of revenue that's also quite low. Also keep in mind in this AI reponse it includes equity (stocks) so that in this way employee is becoming investor/shareholder.
Comments
It's unlikely that this is mostly for payroll. From AI I got:
"median total compensation per employee was approximately $279,802 in 2022, and with 183,323 employees at the end of 2024, total estimated compensation (salary + equity + benefits) likely exceeds $50 billion, or ~14–15% of total revenue"
So maybe it's not 1% as in Varoufakis talk but even if it's 15% of revenue that's also quite low. Also keep in mind in this AI reponse it includes equity (stocks) so that in this way employee is becoming investor/shareholder.
Fair enough! I was wary of doing the calculation that way for reasons that seem retroactively pretty dumb, so I'll take the L on that one.