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Execs like these fail upwards by chasing funding that they can incinerate in bonfires of "innovation" and "disruption." For whatever reason, the failure of the
by beezlebroxxxxxx 2y ago
Execs like these fail upwards by chasing funding that they can incinerate in bonfires of "innovation" and "disruption."
For whatever reason, the failure of their tenure at past companies (or the failure of their past companies outright) are usually not held against them.
But wait, these execs need insane compensation because, conveniently, "they have the special skills needed to be an exec" [see my first sentence].
SV and the tech world has this idea that many execs and founders are something like Steve Jobs. They love to promote that image. Actually, from my experience, they're more like Elizabeth Holmes or your random MBA/MBB alum psychopath failing upwards.
- mrguyorama 2y agoThere's also the clear conflict of interest where Exec at company A is on the Board of Company B who's team of Execs are on the board at company A so it turns out to be really really easy to get them all to vote for more Exec compensation against shareholder interests. Because they aren't shareholders, they're insiders who also own shares.