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Ending the cult of the CEO
121–130 of 188 posts
Re: Ending the cult of the CEO
#122Earlier quoted context omitted.
The way I look at it, a good CEO can save a company millions (or even billions if it's a large company like Sony) by negotiating better contracts. That is a skill some CEOs have. Now, if you're going to hire a CEO with that skill, do you think he's not going to also negotiate a good contract for himself? He has that skill.
There is an unvoiced logic here that I question. The contention is that a CEO saves $x million, and thereby 'earns' some [preposterous] fraction thereof, as a finders' fee. This is a similar logic to a broker taking a percentage of a large market transaction. That part I disagree with and think many upset about CEO compensation (or market speculators/industry windfalls) is that this is earning in any meaningful way.…
I would make the contention that it is up to the company and the board of the company to decide the compensation of any of it's employees, including the CEOs.
"Luck" has a lot to do with it, but it also has a lot to do with many other types of success that most people don't have problems with.
Re: Ending the cult of the CEO
#123Reasons why CEO's make millions and I don't: - Business Network: If I had a billion dollars, I would never have been able to acquire Instagram. I wouldn't even be able to get a seat at the table. Zuckerberg closed it in record time while talking to a company that wanted to be on it's own - Market Knowledge: I thought the iPad was the stupidest device ever, Steve Jobs didn't. I now have 4 at my house along with two of…
> - Job Market: I'm a programmer. There are jobs everywhere for me. If the CEO of Uber loses his job (fingers crossed), it might be a looong time before he finds a new one and even then it's not likely to be remotely similar to what he does now. I mean shoot everyone loves Gabe Newell, but if he lost his job, what are his options? Not as many as me. I would assume that people in such positions (i.e. people who are th…
The market is smaller yes, but the talent pool is also smaller.
Re: Ending the cult of the CEO
#124Reasons why CEO's make millions and I don't: - Business Network: If I had a billion dollars, I would never have been able to acquire Instagram. I wouldn't even be able to get a seat at the table. Zuckerberg closed it in record time while talking to a company that wanted to be on it's own - Market Knowledge: I thought the iPad was the stupidest device ever, Steve Jobs didn't. I now have 4 at my house along with two of…
Total side note, but I do want to note: Gabe Newell can't lose his job unless Valve Software fails entirely, since Valve is a privately owned company. He and Mike Harrington pretty much own the company outright. And given that Valve had ~2.5 Billion in equity in 2012[0], I don't think Valve is in any danger of going away. [0] - https://en.wikipedia.org/wiki/Valve_Corporation#cite_note-1
Gabe might not get fired, but his job most certainly can disappear
Re: Ending the cult of the CEO
#125> This focus has a devastating impact on the lives of CEOs... Leaders deserve to be happy too... solving the problems starts with communication... we need to wage war on this picture A whole article about how hard CEOs have it, and not a single mention of CEO pay or the ongoing efforts to even get reporting of CEO pay ratios? I mean I agree that CEOs get a ridiculous amount of stress and an unfair share of credit and…
> I'd start by paying CEOs less.
I would say that it's a good thing that you're not king then...
And no, the stress of C level jobs does not compare to the mean like you would have it.
Re: Ending the cult of the CEO
#126Earlier quoted context omitted.
That business owners are floated on the backs of their employees seems pretty obvious.
Yes, you're generally either an employer or an employee in a modern economy. Is this news to anyone?
I feel like you are missing or intentionally ignoring the point here.
Re: Ending the cult of the CEO
#127Earlier quoted context omitted.
I don't know who that is but I strongly doubt their career in any way dismisses the lack of class mobility in the US. https://www.theatlantic.com/business/archive/2015/07/america...
By the way, high taxes makes upward class mobility much more difficult.
I'm guessing you aren't conversant with how taxation and class mobility have changed over the last 40 years. Let me save you the suspense: you're wrong.
Re: Ending the cult of the CEO
#128I think this article misunderstands one of the roles of the CEO, which is to be the face of the company, the individual to whom the media can attach its narrative. Group stories don't have the same appeal. Harder to tell. Even if they're more true. CEOs are traveling salespeople. They represent a larger group. They persuade. And one of the groups they sell to is the media.
Re: Ending the cult of the CEO
#129I really hope that we can end the cult of the entrepreneur as well. It's not some special thing to incorporate and start a company, and it's not inherently superior to any other line of work.
I am not into the cult of anything, nor do I think anyone is superior just for being an entrepreneur. I do think being an entrepreneur is superior in one key regard, "its all on you". No one to fire you or lay you off, no one to blame for hiring practices or corporate culture etc etc. What I personally love about being an entrepreneur is the success is not all because of you, but the failure sure is.
My objective observation of many entrepreneurs I know (i.e. not all of them, but a majority that I know), is that they do not take any meaningful risks: they use other's people money, not their own, they have a pretty good paycheck, a lot of equity, often at an age where hard responsibilities are nonexistent (e.g. no family, no house, sometime they have a dog), and they get to play boss no matter how good, or bad, or clueless, or not CEO material...
So, I did acquire a bias toward agreeing with parent.
Re: Ending the cult of the CEO
#130Earlier quoted context omitted.
By the way, high taxes makes upward class mobility much more difficult.
I'm guessing you aren't conversant with how taxation and class mobility have changed over the last 40 years. Let me save you the suspense: you're wrong.
Taxes went up, class mobility went down.