Yeah, figurehead is definitely part of it. Kinda like when you hire a consulting firm to tell you about problems you already knew existed. They're not actually

Yeah, figurehead is definitely part of it. Kinda like when you hire a consulting firm to tell you about problems you already knew existed. They're not actually telling you anything new, they just provide useful cover for whatever actions you already wanted to take. Also: - Nepotism / boy's club – everybody is kinda friends / in the same circle. Once you get in, you're mostly in for life. - Modern financial instruments allow the smartest person in the room (i.e. hedge funds, etc) to make money on either side of the inflection point. Doesn't matter if a bad CEO tanks the stock price if you expected that to happen and are the one with puts while the rubes (retail investors) are holding the dwindling stock.