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Another way to put this is: where would you rather make a long-term investment?
by periheli0n 5y ago
Another way to put this is: where would you rather make a long-term investment?
- spoonjim 5y agoHow long term? For 10 years I’d invest in Google but for 100 I’d invest in his company.
- throwaway6734 5y agoHow do they handle picking new executives? How will they replace this person when they are no longer able to perform the job at a high level?
- spoonjim 5y agoThe CEO I spoke to was at least the fifth or sixth. His son was the CEO in waiting and that guys son was a teenager doing dirty jobs on the factory floor so that when he is CEO he will have the workers’ respect and know how the business is done.
- throwaway6734 5y agoThis sounds like an interesting model for choosing future leaders but also it seems very risky as it is entirely dependent on a very small selection of people (those in the hereditary line) being able to lead and grow a company. Based on the fate of monarchies around the world, I wouldn't bet my money on it
- spoonjim 5y agoThere are two advantages that the family business has: they get to pick the son (In South America, it's usually the son, but in China it's frequently the daughter), it's not always the oldest, and sometimes when there are no suitable sons they go outside the family. In contrast, succession to monarchies is usually fixed, but crafty monarchies often pick the successor as well, such as Mohammed bin Salman in Saudi Arabia and Kim Jong Un in North Korea.