Honestly, we should have more CEOs too. They shouldn’t be paid as much, but we definitely don’t want fewer people running more companies.
My brother who is now deceased as of a few days ago said something similar. AI should be replacing the CEOs lol
My condolences 😔
That raises the question of how those companies ought to be run. Maybe we don’t need CEOs at all?
I think it’s an important role. It’s just over paid.
There was a time when CEO actually took responsibility for the fuck ups of the company they were the head of.
Nowadays, we get the same fucking PR speak, no CEO is held accountable. They give a platitude, get their golden parachute and go be a fucking parasite in another company to do the same shit.
The only time they are a little bit accountable is when they fuck over other rich people.
Couldn’t it be more like a parliament instead of a king?
Big companies already have elected boards. Someone has to be the secretary.
Big companies already have elected boards.
Big boards of shareholders consisting of the CEOs of other companies. Its how you get industry cartelization.
Why do CEOs reciprocally sit on each other’s boards?
The reciprocal interlocking of chief executive officers is a non-trivial phenomenon: among large companies in 1991, about one company in seven was in a relationship whereby the CEO of one company sat on a second company’s board and the second company’s CEO sat on the first company’s board. We develop hypotheses to distinguish whether this practice furthers the interests of shareholders or the private interests of the CEOs. Using a sample of large companies, we employ a probit model to test these hypotheses. Our empirical findings are that these reciprocal CEO interlocks primarily benefit the CEOs rather than their shareholders.
Very often, a CEO will receive stock in-lieu of compensation. This makes them a major shareholder of their existing firm. Firms will also use stock in-lieu of payment when negotiating contracts between firms, particularly in M&A and other consolidation agreements.
Consequently, you’ll have a guy like Michael Dell, whose primary wealth comes not from owning shares in Dell Computers but in Broadcom Semiconductor Company. This came about because he received 22M shares from Broadcom in exchange for his controlling interest in VMWare, a company he obtained by trading his Dell stock to the original owners.
He sits on Broadcom’s board and the former CEO of VMWare sits on his board. When Broadcom skyrocketed in valuation (currently in the $1T range) during the Crypto/AI induced chip shortage, Dell’s net worth skyrocketed with it.
If everyone knew just how little CEOs actually do day-to-day for their millions of dollars, you’d be storming the capital.
if everyone knew just how little senators actually do day-to-day…
If CEOs work so many hours, who keeps golf courses in business Monday thru Friday?
As with every talent, there’s a bell curve. People who post flamebait bullshit like that obviously never had to hire a CEO. If all you can get are retards who can’t handle the job, you’ll be happy to pay millions for even the chance of getting someone better.
Claiming that we don’t have a CEO shortage, while at the same time claiming that there’s a quality issue with CEOs, is expecting that the entire field of talent should be entirely homogeneous, or at least all align a baseline of personal values. How fucking stupid do you have to be to raise such an expectation?
I think you’re missing the forest for the trees so to speak, the pay for CEO’s is so disproportionate for the work they do compared to practically every other job.
The job for CEO’s is to generate profit for the shareholders above all else, public listed companies are intrinsically flawed because of this and the structure needs to be changed so we aren’t constantly bombarded with societal issues due to these fucks.
It doesn’t matter about the metrics of individual CEOs the position itself is the problem.
Very good points, thank you. I don’t even want to disagree with you too much. The system is the root cause of the problem. If I understood you correctly, we’re in agreement on that.
However, while the system exists, having the right people in these leadership positions is important.
I recognize that many people in leadership positions receive compensation that seems insane compared to the value they contribute to society - or often even to their shareholders!
I just honestly still believe that it’s incredibly hard to pick one person to lead a billion dollar enterprise. That’s not a common task, I would assume. And being a sociopathic egomaniac is kind of the barrier of entry for these positions anyway. Could you pick the right candidate from a pool of people with those disorders?
Still, I hope we agree that this is systemic.
Yup I don’t disagree with you one bit, strong leadership absolutely makes or breaks a company and this largely a systemic issue.
Not every day you have a civil conversation with someone on the internet, all the best to you.
To companies hiring CEOs there is a shortage actually, otherwise they would pay them peanuts.
No, CEO pay is a kickback/grift. CEO pay is decided by the Board of Directors, and the Board of Directors is made of CEOs of other companies. What they’re doing is all colluding to inflate each other’s wages and then using that as a justification after the fact to demand higher pay for themselves, lying that it’s due to “the market.”
They don’t think of it that way. They think “we are paying this person for what I know is a tough job and the value they bring to it.” Even though they are definitely colluding. Boeing’s board is probably one of the most egregious examples. Dave Calhoun let a door plug fall off and abandoned two people in space, but he still got a huge severance package. Gross.
They don’t think of it that way in public, you mean. I’m sure they’re laughing their asses off behind closed doors, though.
No, they are genuinely delusional. They think they are doing the world a big service. I’m not sure if that is better or worse…
I’ve been told there would be a pilot shortage since I was in high school. I started flight school in 2005 and was teaching flight school by 2010. I’ve still never seen anything I would describe as an “opportunity” in the aviation industry.
I wanted to be a pilot very badly. I was told that the good paying pilot jobs would die with the previous generation of pilots. I was told that airlines don’t need to pay good money for pilots anymore. So, it’s no surprise that there’s a shortage of people who were willing and able to sacrifice the incredible amount of money and time required to become a commercial pilot. The airline executives very much made their own mess.
And now the insurance industry has a shortage of money, to pay out on insurance claims. Even though everyone paid all of their money. Every month. Every month for their health insurance. And every month for their home owners insurance. And then when it comes time to pay 🤷 🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷🤷 where is the money? Better start increasing everyone else’s monthly rates.
How about a manufactured CEO shortage, the French way? 🤔
De-manufacturing is a better word
Post-covid proof people don’t appreciate the true backbone. Bangs more pans
well unfortunately these shortages do not generally affect billionaires (not directly atleast).
I’ve been screaming this for years: THERE IS NO NURSING SHORTAGE! There is a shortage of nurses willing to deal with the shitty conditions they push on us! It’s not healthy for us or the patients!!!
A nurse friend of mine told me stories of how brutal it was for her to start working as a nurse at the height of covid. So brutal because they WANT to help people, and the system they are in is not designed for that to much woe
To be pedantic, there are a shortage of nurses in hospitals, due to manufactured conditions.
Yes. There are plenty of people willing to do the job, including all the nasty shit they deal with, but then they see the pay and it’s simply a better decision to push papers around instead.
The willing to do the job is also being used against the nurses. Strikes are very difficult for them, because they have a real responsibility and it is extremely hard to stop caring for the patients.
It’s not the pay that’s driving them away, it’s the understaffing.
The pay (most places) is fine, if they just added 30% more staff. The fact that they need to work 12 hour shifts with zero breaks, and the only time they can sit is when they need to get on a computer to file paperwork is awful.
They have plenty of money to hire admins and CEOs, but no money to properly staff the nurses, techs, and doctors.
Hire enough nurses to COMFORTABLY work the shifts, then you won’t have them quitting constantly, then you won’t have understanding.
The strike should take the form of continuing patient care, but refusing to do any paperwork or anything else required for patient billing.
There is a fix for this and it just takes us rallying together a little bit in a video game character fashion.
Just look at what happened during COVID.
All the jobs marked as “essential” back then would probably be a solid proportion of the grease of society. People would riot if they suddenly stopped existing.
There’s a shortage because people is not desperate enough.
Desperate people usually gain an understanding of the job market really soon and what happens when you are too picky
When you guys up there realize that jobs get more and more scarce because they are still getting done, but either by sourcing external talent or AI, that’s when the real desperation will kick in
And suddenly, that spot at McDonald’s, serving burgers or cleaning bathrooms, will look more appealing
Sadly, by the point this happens, these jobs will also be out of reach because of automation
You are still young, probably. Don’t lock yourself out of the job market while waiting for the world to change.
And without bread or circuses they will attempt to rule the mobs, just as the czar and ancien regime
Are you Dora the Explorer on an acid trip?
You seem incapable of not licking Boots.
ShartDickPrime is back from huffing the glue factory dumpster with another hot take!
or, you know, join a union
Noooo you’re supposed to panic and work a job you hate until even that option is gone!
Your entire posting history is pathetic AF.
Dave Graeber’s “Bullshit Jobs” treatise.
In a lecture he gave he was asked how to identify a job thay was bullsbit, one way he suggested was to flip it around. What happens when they all quit? like teachers or Tube workers (he was in London at the time) those are the needed and worthwhile jobs but oddly are often treated like shit.
I’m a school bus driver. Apparently, there is a big shortage of school bus drivers nationwide. But (and it’s a big butt): in many of the school districts in my area, this driver shortage has been used as a rationale for privatizing bus services. Somehow, schools can’t find people with CDLs willing to work for $30+ an hour with benefits like health insurance, dental and vision plans, retirement contributions and even a pension, plus vacations and PTO - yet private bus service companies have no trouble finding plenty of drivers willing to work for $22 an hour with no benefits at all.
![Shortage [of people willing to be exploited]](https://i.imgur.com/267vxF0.png){kind=link}