591–596 of 596 posts
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The marginal utility falls, but it's a hell of a lot more than zero.
Other than ownership of an NFL/NBA/Premier League/etc sports team, what life satisfaction or happiness improvements are unavailable to a one-billionaire?
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Indeed. Such a drag to share the spoils with the proles who built such a successful company.
Ahh, that confluence where capitalism intersects with socialism. Did the workers build the company? Did the capital build the company by providing the pay to pay the workers? Did the workers take any risks? Or did they sign an employment contract, and get paid the same every month regardless of performance? Their only risk, that the contract will end, perhaps unexpectedly [1]? In the case of small private businesses…
> To that end, I am reducing my salary for the coming fiscal year by 98% and foregoing my FY23 corporate bonus. Members of my executive leadership team will reduce their base salaries by 20% for the coming fiscal year while also forfeiting their FY23 corporate bonuses. Eric is probably already wealthy and can withstand a 98% cut to his base, but I definitely respect him more for doing that than the nothing other exec…
I have greater respect for him for reducing executive pay by 20% and cutting their annual bonuses to 0.
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Because of his Gulfstream?
I know it was a Gulfstream, but I referred to it as a “Learjet,” because that’s a more well-known term, and it really doesn’t matter to most of us mensch. It’s like calling a Fuji copy machine a “Xerox” machine. Fairly standard type of literary trick.
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Oh, no, I also wish the other CEOs who claim to "take full responsibility for mistakes" do in fact, take some responsibility. I'm not forcing them to write the words. If they want to say "we tried, it did not work, the economy got worse than we expected, yet we think we're still in the best position to run the companies, but we have to make hard decisions now", that's their stuff. I wonder how it would play out for a…
How is not throwing away millions in compensation - or for this example, almost all compensation - not taking responsibility? I’ve yet to see any line employee willing to take a major pay-cut because they screwed something up.
The analogy might be a saleperson violating a minor policy to ensure a sale. They would take a fee for violating the position, but their sale bonus would compensate.
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Oversaturation to some degree. The same thing happened in the legal field. Becoming a lawyer used to be a one way ticket to the upper middle class. Not so much anymore. The same thing is happening with CS and SWE degrees. They're still great degrees, and probably still worth the money. But much less so than they were even a few years ago.
Law and CS/programming are a bit different though. Law seems to tend towards a bimodal salary distribution where you have the top 10 school grads who clerked for a federal appeals court/SCOTUS/etc. and work at a white shoe law firm in a big city--and you have the public defenders/real estate lawyers in shopping malls/etc. It's not really that black and white--you have people who do well enough as corporate counsels a…