FTC Bans Non-Compete Clauses | The Gestalt IT Rundown: April 24, 2024

In a landmark ruling from the US Federal Trade Commission, non-compete clauses in employment agreements are no longer valid and all existing non-compete clauses are null and void starting in 120 days. The government argues that non-competes stifle wages and reduce the talent pool for companies to draw from. Businesses counter that argument with the need to protect intellectual property. The ruling came after nearly 26,000 public comments. After the ruling was issued, the US Chamber of Commerce immediately filed suit, challenging the ruling and the standing of the FTC to decide it. Simliar action was expected from the National Labor Relations Board in the near future, with some saying the FTC action may have been a race to see who could get the news out the fastest.

Time Stamps:

0:00 - Welcome to the Rundown

1:00 - Supermicro Shows New X14 Servers at Intel Vision

4:46 - PuTTY SSH Security Vulnerability

7:37 - Micron to Recieve $6 Billion in Chip Funding

12:05 - BMC Set to Acquire Netreo

15:04 - IBM Closes In on Acquiring HashiCorp

18:01 - Security Exploit Targeting VMware EXSi

21:31 - FTC Bans Non-Compete Clauses

32:32 - The Weeks Ahead

35:33 - Thanks for Watching

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