As part of their deal for a 35% stake in Juul Labs, Altria gave $2 billion which Juul Labs is splitting among their employees
Over the past decade, vaporizers have proven themselves to be massively successful devices, not only in effectiveness but also in popularity. Indeed, over the last several years in particular vaping has exploded into a huge industry. As e-cigarettes become more common around the globe, the vaping industry is growing at a speed that is nearly unprecedented. Business has been booming so much in fact, that Big Tobacco companies have taken notice and are now working to secure their place in this new and thriving industry. One result of this was a recent 35% stake purchase in Juul Labs by Altria, maker of Marlboro. But according to reports, a full $2 billion from the deal is to be split among all the long-time employees of Juul Labs.
Meanwhile, legislators and academics are busy debating the efficacy of vaping. Critics question the overall impact on teens, believing them to be a gateway to much more dangerous habits. Advocates, on the other hand, point to the growing pile of peer-reviewed evidence which indicates vaping is an extremely useful smoking cessation and harm reduction tool. Regardless, this insane pay-day makes it clear the vaping industry has grown into an incredibly lucrative player in the world of business.
All of this started a few months back when it was first reported that Altria was in talks with Juul Labs to purchase a sizeable, but minority, stake in their company. The deal was met with very mixed reactions, with advocates suggesting the added funding would help improve their goals while proving Big Tobacco is giving up the fight. Alternatively, critics feel that by bringing a Big Tobacco company into the fold, Juul Labs gave away all credibility as an independent company whose primary focus is smoking cessation above all else. After dealing with these initial reactions, the deal was finalized last month, with Altria buying a 35% stake in Juul Labs for a reported $12.8 billion.
Among other stipulations of the deal, a lump sum of $2 billion is due to be sent to Juul Labs in the coming weeks. Instead of keeping the money for top-level executives, Juul Labs has instead decided to split that money between the 1,500 employees they currently have. According to sources, the exact amount will depend on a few key factors, such as how long they’ve been with the company and how much stock they currently hold. But, keeping in mind these variables the average employee stands to receive $1.3 million after everything is said and done; Life changing money for those working in a truly life-changing business.
Evidence For Vaping
It’s genuinely impressive the vaping industry was able to become so influential in such a short period. But once you take a look at all the evidence we have supporting vapes, it starts to become much more clear. Since around 2015 we’ve had a steady stream of reputable studies which conclude vaping is about 95% safer than smoking. We even have reports from as recently as last month which back up this magnitude of improvement. But even more impressively, research indicates the excess lifetime cancer risk of a smoker is around 57,000 times higher than a vaper from a similar background.
As if the proof of harm reduction value wasn’t enough to justify vaping, we also have reason to suggest vaping is the best smoking cessation tool at our disposal. A study published by researchers at the University of Louisville tested the success rates of all the most common smoking cessation methods and devices. After analyzing their results, they concluded vaping is even more likely to succeed than the popular new prescription drugs. But ultimately the most critical reason it’s okay to support vaping is the evidence we have debunking the teenage vaping “epidemic.” A poll of over 60,000 students concluded only between 0.1% and 0.5% of non-smoking teens are picking up vaporizers on a regular basis, meaning fewer are ever even trying a cigarette.
With all the negative stories spread about vaping, it’s fantastic to see the industry remain strong. It’s also nice to hear about a vaping company changing the lives of their employees when they easily could have split that money amongst only the highest level executives. But despite these encouraging circumstances vaping remains a hotly debated topic, one which is woefully misunderstood. In fact, polls suggest that only around 13% of the general adult population understands vaping is much safer than smoking. If we genuinely want to live in a world that’s free of tobacco once and for all, we simply must support vaping companies like Juul Labs.
What do you think about Juul Labs giving away so much in bonuses? Do you think this will help improve their public perception at all? What’s the best way to spread positive information about vaping to those around us? 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.