You’ll Never Guess How These Vapers Are Set To Make Millions
Altria recently bought into Juul Labs, and as a result, many of their employees are now getting an insane bonus
The vaping industry has genuinely been one of the fastest growing we’ve ever seen. Between their utility as a harm reduction and smoking cessation tool and their sheer popularity, vaping is something that can no longer be ignored by the public or Big Tobacco. In fact, as the vaping industry has proven its longevity and value, Big Tobacco has taken steps to secure a future in this new field. A recent move in this vein was widely reported as Altria bought their way into Juul Labs. However, Juul is making employees of all other companies incredibly jealous with their latest announcement that $2 billion from the deal will be split among workers.
At the same time, the debate over the efficacy of vaping has never been more hotly contested. Those who condemn vaping see it as little more than a way to get teens hooked on nicotine, and eventually combustible cigarettes. Supporters of vaping point to the total lack of evidence proving they’re putting teens at risk, as well as the reports which indicate the extreme harm reduction and smoking cessation value of vaporizers. But this latest move makes the debate more complicated, as Big Tobacco has successfully infiltrated the world’s largest vaping company.
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This whole situation first kicked off a few months ago when reports indicated Altria was in late-stage talks with Juul Labs to purchase a minority stake in their company. Reactions to this news were quite varied, with many taking exceptions with Juul Labs “getting into bed” with a Big Tobacco company, claiming this ruins their legitimacy as a smoking cessation tool. Others felt like this move indicates Big Tobacco is finally willing to admit they’re fighting a losing battle. Regardless of reactions, the deal was finalized earlier this month, with Altria agreeing to pay $12.8 billion in exchange for 35% of Juul Labs.
One of the most widely reported stipulations of this deal is the $2 billion put aside to be paid in one lump sum to Juul Labs. Instead of just taking that money and splitting it between their executives, the San Francisco based company is giving some of the money to each of the over 1,500 long-time employees they currently have. Precisely how much each person gets is reported to be based on factors such as time with the company and total stock held, but an average bonus of $1.3 million has been established.
The Fight For Vaping
It’s incredible that the vaping industry could become so important and successful in just a few years. That being said, it’s not hard to find reasons for people to utilize vapes for their harm reduction and smoking cessation goals. Back in 2015 we got our first report which showed vaping is at least 95% safer than smoking, and this figure has only shown up time and time again. As recently as last month we got a study which found vaping has about 93% fewer toxicants than cigarette smoke. If that didn’t prove the harm reduction value to you, consider the report which concluded the excess lifetime cancer risk of a vaper is around 57,000 times lower than a demographically similar smoker.
Adding to the value of vapes is the smoking cessation value they provide. In fact, studies have shown that vaping may actually be the most powerful tool we have in the continued fight against tobacco. A report from the University of Louisville tested all sorts of smoking cessation tools and methods and concluded that vaping is even more successful than prescription drugs. But likely the most important reason we have to support vaping is the lack of evidence for a teenage “epidemic”. A study looking at over 60,000 students concluded that only between 0.1% and 0.5% of non-smoking teens are ever picking up vapes on a regular basis.
Given the increased amount of disparaging media reports, it’s great to see the vaping industry remain so strong. It’s not every day you hear about any company going out of their way to pay employees a life-changing bonus. Regardless, the fight is far from over in the general public. Polls find that only around 13% of adults understand how much safer vaping is than smoking, with twice as many seeming to think vaping is just as bad, if not more dangerous. So if we want to one day live in a world where smoking doesn’t kill more people than almost anything else, we simply must support companies like Juul Labs who are committed to changing lives.
Are you surprised that Juul Labs is giving away so much money? What do you think is their primary goal with this move? How should we work to educate people about vaping? Let us know what you think in the comments, and don’t forget to check back here or join our Facebook and Twitter communities for more news and articles.