FYIFV
Encyclopedia
FYIFV or FYIV is a piece of early Microsoft
jargon
that has become an urban legend
: that employees whose stock options were fully vested
(that is, could be exercised
) would occasionally wear T-shirt
s or buttons
with the initials "FYIFV" to indicate they were sufficiently financially independent
to give their honest opinions and leave any time they wished.
In internal usage at Microsoft, it was meant metaphorically to describe intransigent co-workers. In press usage and popular culture, it is often used to imply a predatory business culture reaching even to the programmers.
8 times in that period, an employee could buy the stock cheap and sell it at a considerable profit, thus reducing or removing their dependence on their Microsoft salary. Many stayed at Microsoft nevertheless because they enjoyed their work.
Adam Barr, author of the book Proudly Serving My Corporate Masters, tracked down a possible origin for the urban legend:
Barr notes also that further options are granted each year, thus an employee can never be "fully vested."
Andrews used the term again when coauthoring the book Gates with Stephen Manes
in 1993.
The quote became more common as Microsoft's fortunes rose, used with the implication that alleged predatory business attitudes reached even to the programmers:
The phrase was also used with the implication that Microsoft employees were motivated only by money, rather than software quality, e.g. in a 2000 Wired
article on United States v. Microsoft
:
Microsoft
Microsoft Corporation is an American public multinational corporation headquartered in Redmond, Washington, USA that develops, manufactures, licenses, and supports a wide range of products and services predominantly related to computing through its various product divisions...
jargon
Jargon
Jargon is terminology which is especially defined in relationship to a specific activity, profession, group, or event. The philosophe Condillac observed in 1782 that "Every science requires a special language because every science has its own ideas." As a rationalist member of the Enlightenment he...
that has become an urban legend
Urban legend
An urban legend, urban myth, urban tale, or contemporary legend, is a form of modern folklore consisting of stories that may or may not have been believed by their tellers to be true...
: that employees whose stock options were fully vested
Vesting
In law, vesting is to give an immediately secured right of present or future enjoyment. One has a vested right to an asset that cannot be taken away by any third party, even though one may not yet possess the asset. When the right, interest or title to the present or future possession of a legal...
(that is, could be exercised
Exercise (options)
The owner of an option contract may exercise it, indicating that the financial transaction specified by the contract is to be enacted immediately between the two parties, and the contract itself is terminated...
) would occasionally wear T-shirt
T-shirt
A T-shirt is a style of shirt. A T-shirt is buttonless and collarless, with short sleeves and frequently a round neck line....
s or buttons
Badge
A badge is a device or fashion accessory, often containing the insignia of an organization, which is presented or displayed to indicate some feat of service, a special accomplishment, a symbol of authority granted by taking an oath , a sign of legitimate employment or student status, or as a simple...
with the initials "FYIFV" to indicate they were sufficiently financially independent
Financial independence
Financial independence is a term generally used to describe the state of having sufficient personal wealth to live indefinitely without having to work actively for basic necessities . In the case of many individuals whose financial circumstances fit this description, their assets generate income...
to give their honest opinions and leave any time they wished.
In internal usage at Microsoft, it was meant metaphorically to describe intransigent co-workers. In press usage and popular culture, it is often used to imply a predatory business culture reaching even to the programmers.
Origins of the phrase
Many Microsoft FTE employees were granted stock options at the start of their employment. The options vest gradually over four and a half years. An option allows the holder to buy the stock at a later date for the price at which the option was originally granted. Because Microsoft's stock price rose significantly between September 1986 and January 2000 and splitStock split
A stock split or stock divide increases the number of shares in a public company. The price is adjusted such that the before and after market capitalization of the company remains the same and dilution does not occur. Options and warrants are included....
8 times in that period, an employee could buy the stock cheap and sell it at a considerable profit, thus reducing or removing their dependence on their Microsoft salary. Many stayed at Microsoft nevertheless because they enjoyed their work.
Adam Barr, author of the book Proudly Serving My Corporate Masters, tracked down a possible origin for the urban legend:
- ... he made a comment to the effect that some person was wearing their FYIFV T-Shirt that day, meaning that that person was being intransigent about something or other. The intended audience apparently understood that this was an entirely metaphorical reference, but someone else, not involved in the conversation, apparently overheard the crack and related it to Bill [
Gates Bill GatesWilliam Henry "Bill" Gates III is an American business magnate, investor, philanthropist, and author. Gates is the former CEO and current chairman of Microsoft, the software company he founded with Paul Allen...
], mis-reporting the story by saying that [Person X] had actually made such a T-Shirt ...
- I only ever saw one actual FYIFV shirt. The person made it themself and wore it only on their final day at MS. This was maybe '92 or so, years after the original incident.
Barr notes also that further options are granted each year, thus an employee can never be "fully vested."
"FYIFV" in popular culture
The first third-party note of the term appears to be by Paul Andrews in the Seattle Times in 1989, in the context of Microsoft as a place where hard work and long hours were expected and rewarded:Andrews used the term again when coauthoring the book Gates with Stephen Manes
Stephen Manes
Stephen Manes is the author of the 2011 nonfiction book Where Snowflakes Dance and Swear: Inside the Land of Ballet. Its subject, the workings of a ballet company, marked a significant departure for an author best known for his journalism on technology and his books for children.Manes wrote the...
in 1993.
The quote became more common as Microsoft's fortunes rose, used with the implication that alleged predatory business attitudes reached even to the programmers:
The phrase was also used with the implication that Microsoft employees were motivated only by money, rather than software quality, e.g. in a 2000 Wired
Wired (magazine)
Wired is a full-color monthly American magazine and on-line periodical, published since January 1993, that reports on how new and developing technology affects culture, the economy, and politics...
article on United States v. Microsoft
United States v. Microsoft
United States v. Microsoft was a set of civil actions filed against Microsoft Corporation pursuant to the Sherman Antitrust Act of 1890 Section 1 and 2 on May 8, 1998 by the United States Department of Justice and 20 U.S. states. Joel I. Klein was the lead prosecutor...
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