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Doesn't matter The median CEO salary is in the millions, they do not have to ever worry about money again if they can just stick around for one CEO gig for a c

Doesn't matter The median CEO salary is in the millions, they do not have to ever worry about money again if they can just stick around for one CEO gig for a couple of years Granted, people who become CEOs are not likely to think this way But the fact is that when people have so much money they could retire immediately with no consequences, they are basically impossible for a business to hold accountable outside of actual illegal activity And let's be real. Often it's difficult to even hold them accountable for actual illegal activity too

johncole 1y ago
If you’re playing at that level, you’re not thinking about subsistence living and never having to work again. You are driven by ego, by winning, by legacy. All three incentivize you to do well if your board consists of non-asshats. You are playing a multi-shot game.
- bluefirebrand 1y ago
  I know, that's my point Incentives for CEOs and Executives are just way different, which is actually a huge part of the problem we face in society We are run into the ground for profit by people who think the purpose of life is to profit
andsoitis 1y ago
> they are basically impossible for a business to hold accountable outside of actual illegal activity False. CEOs are held accountable all the time. At the extreme end, research shows that 1 in 3 CEOs are fired within 18 months.
- bluefirebrand 1y ago
  Being fired is not being held accountable, it is being terminated
  - worik 1y ago
    > Being fired is not being held accountable, it is being terminated Termination is the end result of a process It is not unreasonable to think that is an accountability process of some sort...
    - bluefirebrand 1y ago
      You're talking about being accountable to shareholders I am talking about being accountable to society
      - andsoitis 1y ago
        What do you recommend then instead of losing your job and by extension the ability to affect society in a big way?
        bluefirebrand 1y ago
        Jail, mostly I just think that "our company got caught doing seriously illegal / negligent shit but don't worry we fired the CEO who oversaw all of it after paying them 10s of millions of dollars" is really not a punishment to either the company or the CEO It's kind of a rigged system that ensures no one is held accountable Oh, "the company" gets fined a fraction of the value they gained from behaving illegally, the shareholders get a ton of money, the executive team gets a golden parachute, and society gets fucked Honestly we should be putting people to death for this behavior, instead many of us applaud what great business sense everyone involved has
- southernplaces7 1y ago
  >At the extreme end, research shows that 1 in 3 CEOs are fired within 18 months. And the size of the parachute they get when they're tossed from the plane? I know that there are many small companies with someone in a "CEO" position who might not be hugely compensated, but speaking of CEOs at major corporate ventures here, as is commonly understood when one talks about questions of executive responsibility (or lack thereof), let's be real on some actual severance figure averages for a clearer picture of consequences and "punishment".

johncole 1y ago

If you’re playing at that level, you’re not thinking about subsistence living and never having to work again. You are driven by ego, by winning, by legacy. All three incentivize you to do well if your board consists of non-asshats. You are playing a multi-shot game.

bluefirebrand 1y ago
I know, that's my point Incentives for CEOs and Executives are just way different, which is actually a huge part of the problem we face in society We are run into the ground for profit by people who think the purpose of life is to profit

andsoitis 1y ago

> they are basically impossible for a business to hold accountable outside of actual illegal activity False. CEOs are held accountable all the time. At the extreme end, research shows that 1 in 3 CEOs are fired within 18 months.

bluefirebrand 1y ago
Being fired is not being held accountable, it is being terminated
- worik 1y ago
  > Being fired is not being held accountable, it is being terminated Termination is the end result of a process It is not unreasonable to think that is an accountability process of some sort...
  - bluefirebrand 1y ago
    You're talking about being accountable to shareholders I am talking about being accountable to society
    - andsoitis 1y ago
      What do you recommend then instead of losing your job and by extension the ability to affect society in a big way?
      - bluefirebrand 1y ago
        Jail, mostly I just think that "our company got caught doing seriously illegal / negligent shit but don't worry we fired the CEO who oversaw all of it after paying them 10s of millions of dollars" is really not a punishment to either the company or the CEO It's kind of a rigged system that ensures no one is held accountable Oh, "the company" gets fined a fraction of the value they gained from behaving illegally, the shareholders get a ton of money, the executive team gets a golden parachute, and society gets fucked Honestly we should be putting people to death for this behavior, instead many of us applaud what great business sense everyone involved has
southernplaces7 1y ago
>At the extreme end, research shows that 1 in 3 CEOs are fired within 18 months. And the size of the parachute they get when they're tossed from the plane? I know that there are many small companies with someone in a "CEO" position who might not be hugely compensated, but speaking of CEOs at major corporate ventures here, as is commonly understood when one talks about questions of executive responsibility (or lack thereof), let's be real on some actual severance figure averages for a clearer picture of consequences and "punishment".