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@endlesspower89

4 ай бұрын

best browser!

@Metal0sopher

4 ай бұрын

Because our system is corrupt. This is why we need regulations. There are clearly not adequate regulations on CEO compensation to prevent fraud, thus inadvertently encouraging fraud.

@Stiggandr1

4 ай бұрын

I did a term paper case study on the B 737 Max, and it wasn't just some minor slip up. There were systemic failures in decision making from the top down. It's a situation where compromise after compromise had to be deliberately made before this was even possible. It was really shocking diving into it. Well... not that shocking, but you know what I mean. Also, with the success of engineers, I'm optimistic! lol. Did 6+ years as a GIS technician and electrical engineering and now I'm wrapping up school for a degree in logistics management.

@sebastianw2363

4 ай бұрын

Firefox

@asdkant

4 ай бұрын

Isn't opera kind of scammy nowadays? It used to be great before turning into "chrome with moneylending scams"

A bricklayer applies for a new job. During the interview, he asks: "If I build the wall so crooked that the whole house collapses, how many million dollars in compensation will I get?" Answer: "Ahh, you're a former manager!"

@baileymaloney1961

4 ай бұрын

Terrific comment 😂

@jimmy13morrison

4 ай бұрын

The only reason why your joke doesn't work is that an interview in construction looks like this: - when can you start? - now - ok see you tomorrow at 6 I'll text you the address

@baileymaloney1961

4 ай бұрын

@@jimmy13morrison not true at all. Have you ever laid brick in your life? It requires a high level of skill & they won’t hire you without experience unless you are hired for nepotism in which case you won’t be interviewed anyways..

@jimmy13morrison

4 ай бұрын

@baileymaloney1961 no im a carpenter and every interview i got looks like what i stated. Your credentials are looked at on your first day if you don't know what your doing and it doesn't look like you'll pick it up you're fired before your first break

@DajuSar

4 ай бұрын

@@baileymaloney1961 I think he talks about more informal bricklaying

Its like the middle ages again A captured king taken on the field of a military disaster can expect a mansion for a prison with servants and silk sheets

@EJK2099

4 ай бұрын

Reminds me of Napoleon's exile island

@matthewsheeran

4 ай бұрын

Yeah ransomed - not cheap - but goes home leaving all his men dead on the field and that was just the lucky ones. Nothing much has changed.

@tooeasyy5287

4 ай бұрын

well that is what this is. modern chiefdom. your boss is your chief

@antoniofernandesmarchetti1097

4 ай бұрын

Unless If you're against the mongols...

@tomlxyz

4 ай бұрын

There's one difference: a fired CEO just goes to another company. A king getting removed from his post had a high chance of also getting his head removed. And even if not, they rarely got embraced by someone else with open arms.

Remember kids: “It’s a big club, and you ain’t in it.”

@EJK2099

4 ай бұрын

Ah yes .... The George Carlin quote

@77777Spooky

4 ай бұрын

George Carlin RIP

@Cynsham

3 ай бұрын

Rip Carlin

@eyyy2271

3 ай бұрын

Capitalism, amirite?

@e.bd.s

3 ай бұрын

“You’re not in that club, you own it!”

Another reason why many of the Executives who come from consulting firms end up tanking businesses is mindset. If you lookup the types of questions that new consultants are asked during job interviews at management consulting firms, they way they want you to dissect the case problems tend to be clinical, narrow in scope, and a reflection of what s taught in Business Administration classes. The level of rigidity in problem solving prioritizes the old school ways of conducting business rather than a more dynamic, modernized approach to business development and problem solving. In other words, management consultants tend to stick to industry approved methods (the same methods that have been proven to lead to failure literally thousands of times over by now). So you end up with nepotism reinforcing failed practices and practical, unconventional methods are usually shunned or ignored.

@bunk95

4 ай бұрын

Executives, firms, businesses, mindsets, etc. are fictional. If youre forced to behave in ways lied about with the fiction of/that includes job interviews..?

@baileymaloney1961

4 ай бұрын

Preach

@TimeQuxxn

4 ай бұрын

Did you work for a firm or just interview? Makes sense an interview for new grad would be modeled after what they learned in school. They want to see that you can take direction.

@bunk95

4 ай бұрын

@@TimeQuxxn firms are fictional. Are you asking if someone was kept as a slave and [marketed] as part of a firm/forced to behave in ways [marketed] as interviewing at a firm?

@ThisIsGoogle

4 ай бұрын

Gibberish.

Failing upwards is easier they higher you go. I seen a new ceo brought in to a previous company to work with, get investors hyped about a new target market and product. Do ZERO market research to actually check if those new clients want, need, or are suitable for this. Almost a year later the new head of sales resigned after 3 months, we never sold anything because the clients would make £100 a year extra which is way less than their time invested in meetings. The CEO is now a CEO at abother company. The Yes man executives also moved on to another senior position. This was my first graduate company and it made me realise how fucked the business world is and there is no integrity there.

@bunk95

4 ай бұрын

A slave marketed as an investor can be hyped to be waste?

@perfectallycromulent

4 ай бұрын

weird how the economy keeps working then. maybe your'e overestimaiting the dysfunction based on a bad personal experience.

@szymonster7610

4 ай бұрын

@@perfectallycromulent like in the video there are many good CEOs in stable companies for long time. Remember Pareto principle. A few people do most the work

@lime148

4 ай бұрын

@@perfectallycromulent You're so, so close. The economy keeps going because the WORKERS who do all of the actual WORK keep WORKING.

@crouton7070

4 ай бұрын

@@lime148 the problems outlined in this video describe a corrupt, decadent, and nepotistic elite business class. They do serve a role, that is organizing labor. Both elites and workers can be corrupt and decadent, they both are crucial to the functioning of society, and they should hold themselves to high standards and work together to achieve the best results.

This entire video can basically sum up by a long time belief that I've had, which is that America and big business will constantly yammer and strut around about capitalism...until they actually have to do capitalism. I'll still never forget how much US automotive companies were constantly putting down people with social problems saying that businesses should just fail or succeed as the market dictates and then in 2008 absolutely begged to the government for socialist handouts to avoid them from collapsing. That is truly the year that the entire American bubble concept of "good" capitalism died.

@LucasFernandez-fk8se

4 ай бұрын

Capitalism died when Obama was elected it’s been corporate socialism ever since

@dracodraco1982

4 ай бұрын

For you, at least. Regrettably, many others still haven't caught on. >.o Which is bewildering, how long have people been saying "They don't make them like they used to," and complain about irreparable products designed with an eye fixed squarely on planned obsolescence, yet not connect the dots? But you keep people busy, in a crisis or at risk thereof, and neither the media, nor society overall, seem keen to pause and reflect. We sure seem to go well out of our way to avoid it. x.x

@cognician_

4 ай бұрын

Golden parachutes and safety nets for me, rugged individualism and social darwinism for thee.

@normtrooper4392

4 ай бұрын

It's actually insane how ardently they defend capitalism when literally none of them want to play by the rules they claim to defend. They would literally bring back slavery to save a few dollars.

@azrulashraf00

4 ай бұрын

And I just saw a video that the NFL is the most socialist sports league in the world but also the most rich. We really need to rethink capitalism or the bottom 99% will suffer even more

CEOS are the new nobility.

@whome9842

3 ай бұрын

And will continue to be until heads start rolling.

@feelthepony

3 ай бұрын

there is this misconception that medieval rulers ruled by "bloodright" that was made up at the end of the middle ages to retroactively justify their 500 years rule, the truth is that they were just private citizens who monopolized all economic activity in their area of influence over time (cause when you are big and powerful, it is pretty easy to eat all the other small fish in the pond over the passing of generations.) so worse, they are thew OLD nobility coming back, maybe not now, but 150 years from now CEO will be a hereditary title (again with the fun facts, duke was not an hereditary title for like a long time, this was ORIGINALLY also sold to people as a form of meritocracy, but nepotism finds a way)

@gorkyd7912

2 ай бұрын

This is fairly accurate. The old nobility got to their rank through warfare. They could muster an army based on their experience and personality. If a commoner said "follow me to the Holy Land" they would be laughed at. Everyone can be envious and despise the nobility for their unearned rank, and it can seem undeserved when they end up being horrible warriors and strategists, but fact remains that no one is following non-nobility into battle and no one is hiring non-CEOs to run their company either.

Here me out... if the CEO gets paid so much because it is such a hard job, how can we reasonably assume a CEO can be the head of SIX companies? Like, there's absolutely no way a CEO is truly doing valuable work when splitting their attention between 6 companies.

@Mobius_Pizza

4 ай бұрын

Sadly you confuse hard work effort with impact. Otherwise janitors doing 12 hour shifts will earn as much as CEOs.

@tomseiple3280

4 ай бұрын

​@@Mobius_Pizza oh, I'm confusing absolutely nothing. You're telling me that the impact Musk, a human person with a monkey brain, can hold down the role of CEO at 6 highly valued companies and producing the same impact that, say... 6 CEOs, one at each company, could? There is no universe in which he alone can have that much measurable impact to reasonably believe he alone brings more value, splitting his time 6 ways, than just hiring another person who is equally as qualified. Btw, and unrelated, janitors are far more useful than CEOs.

@JakoWako

4 ай бұрын

At this point, Elon Musk is a brand that gullible investors fawn over. I bet if he stepped down as CEO for Tesla would lose hundreds of billions in market value so in that sense he provides a lot of value to these companies.

@zwerko

4 ай бұрын

@@tomseiple3280 At this point, Musk probably knows more about manufacturing than anyone alive on the planet. And not just manufacturing. He said it himself, and who can question such a brilliant man with a phone book-sized list of great ideas, achievements and predictions he did?!

@epic1053

4 ай бұрын

​@tomseiple3280 don't think musk is a good example all the companies he ran he created from the ground up. This video is referring to people who get put in charge of companies not people who built them..

I was just talking about this with my little brothers who's just entering the workforce, I said become a manager as soon as you can and you're a part of the management class, you can go anywhere as a manager even if you dont know the industry, people assume managers could manage anywhere, you succeed in one place you get offered sign on bonuses to go elsewhere, if it doesnt work out? They dont care and you move on.

@bunk95

4 ай бұрын

Be kept as a slave thats lied about as manager? You didnt tell him how to harm others so human slaves wont continue to be made and kept?

@j.reinholme

4 ай бұрын

May not be great advice since I'm reading more articles lately about how tech companies aren't seeing the value of managers and instead opt for project managers and tech leads to guide their teams. May be a matter of time before this flows outward since companies are pretty unoriginal and copy each others's safe ideas.

@lordlynkz

4 ай бұрын

@@bunk95 naw, best managers treat thoee under their care as people, funny enough, it gives you the edge. Work isnt slavery, its merely selling your time for money, value yourself and value others. 1. Better to have 50 people singing your praises, your numbers will go up as well or higher than grinding your people to dust and having nothing but numbers and knives at your back. 2. Value your time, value other peoples time and everyone should aspire to move up, there's always someone there to take the low level employees place, a good manager will have former employees recommending people work there just because it was a great experience.

@lordlynkz

4 ай бұрын

@@j.reinholme project management is a great skill, one you can get with a course, tech lead naturally follows, but if you are outside of tech, being a manager gives you the experience, the title and lends more weight to a project management designation. Flexibility and capability is the name of the game.

@Richard-or9rt

4 ай бұрын

True, but beware, there is a level of management that is the sacrificial lamb level. The managers just above those on the floor are essential to the company. You will never be fired if you are decent. Good management here makes a huge difference. The managers just above this are generally throw-away. They are not critical and are mainly slaves to their boss. They are glorified compilers, compiling data for spreadsheets and power points presentations so their boss looks good during meetings with big muckitimucks. The compilers can easily be chopped if the balance sheet doesn't look good and they can also be the fall guy if their boss screws something up. You go the management route, you have to go through the second level management, but you have to get to the third as quickly as possible. Once in the third level you are part of the club and then just don't be an idiot and always go with the Company Narrative even if everything is burning around you.

1:53 "If you have been working as a welder..." Shows random guy *soldering*

@Isaachar72

4 ай бұрын

It's AI generated - we should have got the clip from An Officer and a Gentleman.

@tomlxyz

4 ай бұрын

Ironically it actually supports the statement that he made at that point. He has no experience there and did poorly because of it

@richteffekt

4 ай бұрын

We should have got a clip from Flashdance!

@OffGridInvestor

4 ай бұрын

Don't expect white collar guys to know the difference.

@postmodernmining

4 ай бұрын

Low temperature welding.

Meanwhile employees are laid off with a Golden Kick in the ass.

@ofAwxen

3 ай бұрын

"Golden", you say? If only...

@supernerd4623

3 ай бұрын

​@@ofAwxen golden for the kicker, they get a bonus for that too

@noneofyourbusiness4830

3 ай бұрын

At least the laid off employee doesn't get a Golden Shower.

The German government under Merkel had the exponential McKinsey problem, too. They started with a few McKinsey consultants who then consulted to hire more McKinsey consultants.

@bunk95

4 ай бұрын

Governments are fictional. Those marketed as part of government make slaves marketed as consultants?

@invertedv12powerhouse77

4 ай бұрын

That's what happen in government jobs when it's also hard to fire someone.

@IFRYRCE

4 ай бұрын

Merkel was enough of a disaster by herself. We have her policies in large part to thank for the current Ukraine situation.

@chimagamer4157

4 ай бұрын

the amount of money spend there, it would have been cheaper to do it inhouse from zero, and that talent would be funded for quite a while.

@wildfire9280

3 ай бұрын

⁠@@IFRYRCE Yes, another country’s decisions are the fault of that uninvolved one. Makes sense.

The power imbalance in corporate America's hierarchical structure is indeed alarming. As you pointed out, the experience paradox and the golden parachute phenomenon worsen this issue. Corporate ethics and accountability need an urgent overhaul to ensure fair practices and justice for all stakeholders.

@jensenraylight8011

4 ай бұрын

yes, those CEO should work at their company Call Center first, learn some common sense first. getting used as a company whipping boy. because nowadays we got a lot of Tone Deaf and Brain dead Announcement took by those CEO that causing an all out Outrage. they think that their own insider joke will makes everyone laugh, but no, it offend everyone even more, it shows how detached and tone deaf those people can be

@OriginalContent89

4 ай бұрын

It needs an overhaul but it won't happen. The people at the top want to keep things the way they are and everyone else just keeps the status quo because change requires effort

@victormendes956

4 ай бұрын

​@@jensenraylight8011that's very good idea. I work in customer support (tech company). The company's CEO and CTO used to respond to clients in support tickets when the company was much smaller (I actually found quite a few messages and tickets from both of them). I can very honestly say the company I work for has an awesome CEO and CTO; they are the founders as well. The company is not small anymore but that positive spirit still lives on.

@brianmattei7134

4 ай бұрын

Will never happen considering they run the show and pay off politicians lol.

@iidentifyasjeffbezos

4 ай бұрын

This looks like it was written by my boy chatGPT 😂

This actually just happened in my company recently. An executive in one of our business units was held responsible for $47 million dollars of losses in one quarter. He was fired.... Then hired as CFO for another firm in our industry.

@sor3999

3 ай бұрын

One guy here was made CTO at my company I worked at, he was fired and was made CEO at another company within the industry.

The more I see of modern capitalism - the more convinced I become that the system only works if companies are allowed to fail. The current system of bailouts, low interest rates, money-printing, lobbying and massive government intervention in the economy: entrenches corruption and incompetence.

@dreiundelfzig6452

3 ай бұрын

Once you're a business owner of a small company or medium sized at best, you are definetely "allowed" to fail. I think this holds true for most businesses except those that are too big to fail. But I agree with you, if big banks, automotives etc. really had only one live as every one else, they'd for sure approach things differently.

@poutineausyropderable7108

3 ай бұрын

The government should limit and go against compagnies, not with it. Public compagnies should never be government backed. Public compagnies just lobbies their way into corrupting the government. . And tax payers pays for bailout ounce a compagny gets too greeedy and fucks up.

@alphajackal6648

3 ай бұрын

Capitalism inherently results in certain companies gaining favors from the government. It starts with simple things, like how not every company is able to leverage the most out of the ability to subsidize their infrastructure costs onto the people at large(transportation especially), and over time, as the government relies more and more on private firms to distribute essential services and keep the economy afloat, the largest of these firms naturally gain political influence which they use to transform the economy to favor themselves more, until they are so installed they cannot easily be removed without harming the society at large. Despite its mythology, capitalism's history has never demonstrated a capability of truly 'free' markets - The winners have always been defined by those most able to externalize costs through government policy and subsidy. This naturally results in 'too-big-to-fail' companies who can hold the entire nation at gunpoint should they be at risk.

@dreiundelfzig6452

3 ай бұрын

@@alphajackal6648 good elaboration of the too-big-to-fail mechanism

@pranavmanie1479

3 ай бұрын

yes. bankruptcy is essentially a capitalist institution anyway, and is useful in clearing market risk.

Explains why so many CEOs are great and saying lots of stuff whilst simultaneously saying nothing of value at all...

@notsojharedtroll23

4 ай бұрын

Professionañ yappers

@OldeCat

3 ай бұрын

Politician

@saparapatepete

3 ай бұрын

politicians and CEOs probably shared the same school XD

@honkhonk8009

3 ай бұрын

Midwits basically. low interest rates along with the government bailing out companies that should failed years ago, results in this.

I twitched when you said "experience obsession"... but that's exactly what's happening to me right now. I'm trying to get back into my old profession and either never get so much as a rejection or get asked straight up "Do you have 3-5 years experience running a specific brand of a specific machine and are you willing to work overtime for minimum wage?" Dude, wtf. You're not going to find that guy and if you do then he won't work for what you're offering. I have demonstrated years experience of learning dozens of machines from many different perspectives, from operator to engineering and process improvement. Now I'm getting ghosted for glorified button pushing. What the actual fuck is happening!? Also, why are there so many managers? I interviewed at one place that gave a nice tour. Their office was almost as big as production. They had multiple "departments" with their own "managers" despite only like 10 people being on the production floor and half of those machines were empty! AND they had an HR department. What do these people do all day!?

@alexgac1801

4 ай бұрын

Mostly parasites.

@dandan1364

3 ай бұрын

Don’t waste your time applying. Start your own thing.

@RokeJulianLockhart.s13ouq

3 ай бұрын

That's why I'm a soldier. No matter who comes in, as long as you treat yourself and everyone else with utmost integrity and dedication, they'll take you on and train you.

@1queijocas

3 ай бұрын

Just lie about having the experience. Managers lie all the time to potential employees about their future responsibilities, progressions and salary increases. It is only fair to lie back as well

@aprilgeneric8027

3 ай бұрын

with all that experience why do you not own any of those machines and own a company doing that???? when you are young that's why you get a job, by your 30's you are expected to quit and start up a competing business doing some niche you discovered.

The Boing CEO may not have been directly in charge of the department of building the MAX planes but his position definitely influenced the reason why the planes were defective and deadly. Under his direction they were incentivizing profits over safety, cutting corners in order to compete with Airbus to produce these planes, rushing the process and giving workers crazy deadlines without support. The workers who spoke up were often ignored, may of the long timers left because they knew this was destined for disaster. The main issue with Boing is the took a heavily complicated engineering company and turned it over the essential hedge fund managers that care about nothing more then profits and stock options.

@ayoCC

4 ай бұрын

A person with no insight into the actual process of baking the bread but just trying to pull levers to increase performance indicators, then they get surprised when unseen variables suddenly become a problem when they pushed the bakery to the limit

@allesarfint

4 ай бұрын

​@@ayoCC "Why are we wasting so much time baking the bread? Just double the temperature so it bakes twice as fast"

@xc5103

4 ай бұрын

Yeah dunno what HMW was on about when he said he wasn't directly involved in it. I'm like "bruh."

@Kolmir

4 ай бұрын

Exactly, a CEO should be accountable for all that happens under his/her command... Especially in the case of cutting corners.

@RealHomeRecording

4 ай бұрын

​@@Kolmirin a justworld, that CEO would be behind prison bars!

"CEO's know that they can eventually be blamed for a scandal they didn't have direct control over", I disagree, shit rolls down hill. If the Boeing CEO was known for getting projects off the drawing board and into the sky, it's entirely possible that his push to get new aircraft launched was a prime factor in QC being overlooked and those black boxes being buggy. Either way, the CEO runs the company, they have ultimate ownership and decision making power over everything that occurs in that company. If a ship sinks, the captain is responsible, in one way or another.

@theultimatereductionist7592

4 ай бұрын

Exactly

@reaganharder1480

4 ай бұрын

By all I've heard, Boeing in particular had a drastic internal shift away from QC and good engineering and towards cost cutting and maximizing profits after the McDonnell Douglas merger, which I believe also included much of the upper leadership of McDonnell Douglas (including the CEO) taking over those positions in Boeing, so yes, the Boeing example is probably the best example of a CEO being quite directly responsible for a scandal that may not appear to be his fault at a glance.

@alphastratus6623

4 ай бұрын

The trick is to go for companies where change need time to happen and change positions / companies faster than the long term side effects can show up.

@DKNguyen3.1415

4 ай бұрын

The QC engineer isn't the one pushing things to be rushed.

@OzixiThrill

4 ай бұрын

That's the shareholders. The people at the very top that decide what a company does are the shareholders. The CEO is basically nothing but a figurehead that says what the shareholders want to hear and does what they want done.

Mary Barra has been running GM into the ground for years and getting record compensation every year for it. She finally announced yesterday GM would build hybrids again instead of going 100% on EVs and the stock jumped almost 10% - biggest gain since shes been CEO, and all because she backtracked on her main strategy.

@sdm6054

4 ай бұрын

It's confusing why she hasn't been sacked. She's such an obviously incompetent CEO. GM is performing horribly and has been since she took the reigns. For whatever reason, the shareholder/board standards for her are rock bottom.

@IFRYRCE

4 ай бұрын

@@sdm6054 Well part of it is definitely the 10.5 billion stock buyback she did to bribe the board by raising the stock price immediately after her disastrous UAW deal. Because, y'know, that's a responsible use of a line of credit the company secured in case the strike went on for a longer time.

@theberserker_of_falconia

4 ай бұрын

​@@sdm6054is she jewish?

@MidnightGreen4649

3 ай бұрын

As a car and driving enthusiast, it's actually baffling to see companies go electric only when hybrids or perhaps hydrogen fuel cells are much easier to adapt current infrastructure to... and offer better long-term product differentiation. I am also an engineering student and it makes me cringe to hear people talk about EVs being the future because they just aren't. Not with the current battery technology and the needs of the average driver. Can't imagine EVs will ever get cheaper and buying used for EVs is a huge gamble because of battery degradation.

@IFRYRCE

3 ай бұрын

@@MidnightGreen4649 man hydrogen is way worse lol. You need entirely new gas station infrastructure that's much harder to build than either current gas stations or EV chargers due to the pressurized nature of the fuel. Synthetic or biofuels that are carbon neutral/negative are definitely the way to go. They're viable and use existing infrastructure. Other than that though I agree with you

This is why our company aims to promote 80% within and 20% external. Almost never for higher positions as we don't want to drastically change culture.

@RiversJ

4 ай бұрын

Good choice, i work for a pretty huge corporation today in my region of the world, but the business culture is very good, almost like the one in a good small to medium one and a large part of that is a very high ratio of internal promotions to external hires up to and including the CEO that began as a regular sales floor guy.

@bunk95

4 ай бұрын

Companies are fictional.

@angusperson4222

4 ай бұрын

Out of curiosity, do you have to pay to be allowed to shop at the company you work for?

@evilkingstanley

4 ай бұрын

If you never promote people within to higher positions, then I hate to tell you this, but you're hiring externally.

@knurlgnar24

4 ай бұрын

I worked in a company like that. The ones who were incompetent and wanted control over their more competent work-buddies got the promotions. Obviously, because that's how it works everywhere. How the culture has changed such that you get praised for blaming others for your problems and chastised for doing actual work. Restricting promotion to 'from within' poisons the corporate culture.

If anyone's looking for a ceo, I have absolutely no experience in anything above entry level jobs, but I can guarantee a profit for the first year no matter what the business is.

@DrDreDay1724

3 ай бұрын

Sounds like a good resume. I’ll have my people contact your people…. Now I just need to get some people… and a company

@kaden-sd6vb

3 ай бұрын

​@@DrDreDay1724dont forget the minimum 500 million dollars or something like that required to ensure you aren't instantly devoured or suffocated by the already established companies in whatever industry

@saphironkindris

3 ай бұрын

@@DrDreDay1724 Hey, I'm a person

I observed this immediately after getting my first job in IT... Problems aren't meant to be solved..they're meant to be created

@whateverrowsyourboat595

3 ай бұрын

reminds me of the Matthew McConaughey's speak from wolf on wall street.

It warms the dark cockles of my heart that Iger’s one of your examples in the thumbnail.

IMO it starts at the mid level of management. I've seen 2 examples of managers breaking rules line employees would be fired for. After a certain rank being a sycophant mattered more than a work ethic.

@maweitao

4 ай бұрын

People fixate on execs but this problem reaches pretty far down the corporate ladder. At some point I realized that awareness surrounding even a low level manager's competency is widespread. The problem is that for one reason or another everyone believes their hands are tied. It often comes down to something as mundane as nobody wanting to stir the pot, but often it's tied to stuff like interpersonal relationships. Even empathy is a factor, triggered by the perception that job loss would hit these people harder than a low level worker. Plus, at the end of the day, everyone just assumes that the replacement wouldn't necessarily be any better. I'm not justifying any of this, because I think it's ridiculous, but it needs pointing out that this is usually less conspiratorial than people are apt to believe. Personally, I believe this problem stifles social and economic mobility for those who deserve to climb the ladder. Not that I think it's a zero sum game, but I don't think there's anything wrong with those higher up dropping a few rungs if they screw up. They shouldn't be sheltered.

Trickle down economics. Once the money is all at the top, it trickles up against gravity

@jy3n2

4 ай бұрын

Turns out that money is like mass. The highest entropy state is all of it in one place.

That’s just how mafia works

@the0ne809

4 ай бұрын

even better than mafia since it is all legal.

@notsojharedtroll23

4 ай бұрын

​@@the0ne809looool

@TheNikoNik

4 ай бұрын

@@the0ne809 because they had enough money to make it legal

@tridave9811

4 ай бұрын

@@TheNikoNikthey were smart enough to do it. Mafia's strategy was to bribe people to ignore the rules. It never dawned on them to change the rules so government protected what they did at taxpayer expense.

@the0ne809

4 ай бұрын

@@TheNikoNik correct. stock buybacks should be banned again.

Society also has this attitude of "if a youngling fails, big deal, they have their whole life to make it up once again" that biases their response to a senior getting let go.

No CEO ever started as intern are the founders or some indicated rich dude with an mba who think is a genius

It is because success as an executive is about relationships. Not about talent or driving value for the company. Those are only useful to the extent that it helps you with your relationships

My wife is the executive assistant for the CEO of a large national company. Through that relation I’ve gotten to know this man on a personal level quite well. It’s confirmed my existing belief that top level success is almost entirely based on “experience”, connections, and recruitment savvy. The guy is honestly nice as can be, but he’s also kind of an idiot. If you didn’t know any better you could mistake him for any other shmuck you’d bump into at your local bar. He’s basically just job hopped from position to position before landing where he’s currently at.

In other words: 1. "Bad experience is better than NO experience" (they often don't want to *promote* someone to CEO) 2. Anyone who has CEO experience but isn't currently a CEO is likely either retired or was booted from a prior company. The former are less likely to want to become a CEO again.

@malcolmcurve9511

2 ай бұрын

You see where the problems lies

While I do dislike that the method chosen for a good CEO is ...shareholder returns (Regularly firing your staff will increase returns, but you eventually run out of staff) If so far we learn, that CEOs dont even do their Job well for the shareholders, wouldnt it make more sense to either change the CEO job, remove it altogether or automate it. CEOs are really expensive, when you compare it to staff that work on the product itself.

@SkySong6161

4 ай бұрын

Not to mention the AI would be cheaper, and probably do a better job.

@NeostormXLMAX

3 ай бұрын

@@SkySong6161some companies are actually replacing ceos with ai

I worked in a Fortune 100 company in logistics and supply chain dept. The new manager of that department didn't know what it was a LCL shipment and was criticizing why the lead time was so long for this type of shipment. Notice that we started using this type of shipping to save on shipping costs and it was their instruction to save cost as priority, not because we liked it. I told him either you save money or either you save time; you can't expect paying way less and hope for a fast and better service 😂... Is like wanting a Mercedez and paying for a Kia. I am not even graduated in this field and understood the basics. How a f ing manager of said department don't know the basics... This type of guys are the ones that end up being promoted. At the end, I just left. They kept asking for KPIs that contradicted themselves. If you improved some KPIs, they affected others since they had an inverse correlation. So, no matter what you did, you would end up in a bad position.

Why do ceos get things like pensions when their average employees don’t.

@tomlxyz

4 ай бұрын

Why does the one who makes the decision get better treatment than those who don't? That's why unionizing was pretty much always effective in getting better conditions because with a union you can just easily collectively stop working and put pressure on management

@bunk95

4 ай бұрын

Ceos and employees are fictional. Are you commenting on slaves [marketed] with that fiction?

@otothej2577

4 ай бұрын

They negotiate it as a part of their compensation. You are 100% free to negotiate about your compensation as well.

@DevoutSkeptic

4 ай бұрын

Because CEOs are hard to hire whereas the average employee is not.

@anonmouse15

4 ай бұрын

Same reason why the king in feudal societies never starves to death.

In the netherlands we've had the same guy as prime minister for like 15 years, he and his predecessor ruined everything we know and love. People genuinely hate him with a burning passion. His next job? Head of NATO defence force. Talk about bodyguards! I have a feeling he heard about what happened to Mr. Shinzo Abe..

@alicianieto2822

4 ай бұрын

The description reminds me to Berlusconni. How did he stay in power so long if nobody liked him?

@zwerko

4 ай бұрын

@@alicianieto2822 The art of compromise and dirty, under-the-table deals, that's how. Rutte (the guy OP is talking about) was good at identifying personal interests of politicians of all kinds and making sure they can be fulfilled, which guaranteed that the Dutch super-fragmented political landscape (needing 5-6 parties, often not from ideologically-adjacent stances, to form the Government) will keep Rutte in power.

@ruben9912

4 ай бұрын

@@alicianieto2822 He definitely, much like berlusconi, has loyal followers mostly of the home and business owning kind. Very good at never solving anything but presenting himself as the only solution to anything. "Let's sell all our national infrastructure to private industry, I'll be rich and elite for life, the country will come to a standstill and everything will get more expensive but there will be 500 new jobs!" *companies hire Ivy League expats from overseas not locals* *rich expats overpay and ruin what is left of the housing market* *VVD-voting home owners see their house prices increasing* *normal everyday people no longer able to gain equity* "everybody wins!"

@NeostormXLMAX

3 ай бұрын

Some one threw a grenade a kishida as well even the reserved japanese are tires

@honkhonk8009

3 ай бұрын

Jesus christ. You guys have a Trudeau/Biden backed clown that's been running the clown show since 2010. This is exactly what happens without term limits. Elite only like to hire themselves, even if their incompetent while at it. Its simply how the world works.

If you want to fix the way CEOs run business you simply make the law that if they bankrupt the company, then the C suite employees of that company at that time, or who can be legally tied to the downfall even after they leave, should be stripped of everything they own. No bonuses, no stocks, take everything. Maybe then when they know everything they have is on the line they might not drive these companies into the ground because they actually have skin in the game. Ill chuck in all the board of directors and vice this and that levels as well.

@OryAlle

4 ай бұрын

Problem is anyone competent would too be scared to risk accepting such a dangerous contract. Anything could happen, the company could fail because some new technical innovation elsewhere makes their business model redundant etc. The only people to accept a CEO position in that situation would be a blithering idiot who doesn't understand the CEO is actually the 'fall guy' position.

@malcolmcurve9511

2 ай бұрын

They won't agree to start work without a golden parachute agreement upfront. So it's either u hire them at their own terms or you stay without a CEO

Used to be an IT guy. None of these CEOs could operate a computer but all of them wanted to tell me how to do my job.

The incoming CEO in my job has worked his way up through the company. He makes mistakes but he's humble so I have great confidence in him. I'd much rather that than someone who doesn't know anyone or anything about the company.

@sor3999

3 ай бұрын

When investing, I look on outside hires for executive positions with a lot of suspicion. I always guessed it was because a board member wanted to get his crony in and this video helps confirm that for me. Why would you NOT just promote those who've been with the company and know it's business for decades? Oh because it would cause a cascade of lower vacancies? Sounds lazy. Nothing worth doing is going to be easy.

And our grandparents wonder why we have no company loyalty. 7.1% that’s why

@Lonovavir

4 ай бұрын

Now it only goes one way, it's all take, no give for companies. Corollary: Credit goes up, blame goes down.

@Tunda2

4 ай бұрын

@@Lonovavir that’s why we bounce from company to company. It’s the only way to get a raise or move up!!

@Wary_Of_Extremes

2 ай бұрын

research shows you can be as much as 50% better off financially in the long run by jumping companies every few years now.

I have a PhD in biochemistry and 22 years experience and failed to find a new job after being laid off 8 months ago. If experience mattered in my case this would have never happened to me.

@joepiekl

4 ай бұрын

Ah no, you're forgetting, for us normal types, experience is just a sign that you're more expensive.

@MisterTutor2010

4 ай бұрын

@@joepiekl I've been willing to endlessly compromise on how expensive I am and I'm no better off. I'm being punished for being laid off.

@joepiekl

4 ай бұрын

@@MisterTutor2010 That's shitty, but I wonder how many companies just don't even give an interview because they assume that someone with a PhD and 22 years experience will be really expensive.

@GenerationX1984

4 ай бұрын

If you're that well educated, nobody would blame you for lying on a job resume. Especially since these corporate robber barrons lie to us via the media 24/7. Lie to them and then screw them over. See how they like it!

@Playingwithproxies

3 ай бұрын

@@MisterTutor2010at that level of experience you should be leaning towards managing in the STEM field surely if you expand beyond biochemistry you would be able to find a position.

Dead serious when thinking that the first jobs that should be replaced by AIs are the CEOs: they are ultraexpensive, they tend to repeat the same formulas to maximize profit, and its not like they are famous for their human empathy.

"Fake it till you make it", should be on everyone's resume.

I've always loved how execs preach about accountability for everyone but themselves.

CEOs fail their way to the top because promotions are about politics, not achievement in the workplace.

If the world had real money and a real economy based on real tangable goods and services instead of debt, inflation and fraud these CEO's tied to those that run the money printer wouldn't get these kind of contracts.

@authenticallysuperficial9874

4 ай бұрын

Yep. Fascism and socialism is what enables these people.

@NeostormXLMAX

3 ай бұрын

@@authenticallysuperficial9874uh its the complete opposite fascism is against “fake jobs” and socialism focuses on manufacturing and hates fake financial jobs

@NeostormXLMAX

3 ай бұрын

@@authenticallysuperficial9874in ww2 its estimated that germany outproduced almost all the allies per capita by a great amount the allies only won since they had 10 times the man power and many times the resources

@LuaanTi

2 ай бұрын

@@NeostormXLMAX Where did you get that estimate? Every analysis I've looked at has clearly shown a much higher efficiency per capita for the allies, especially before they started implementing centrally planned economy. The Nazi trains did _not_ run on time. Only the propaganda ever did. In WW1 it was particularly easy to see how every step towards a more planned economy made everything worse - but you couldn't really go back, because people expected that more control would be more efficient. WW2 is trickier because of how quickly Nazi Germany managed to take control of large territories, their population and industry (and then they could claim the losses were due to "resistance"). But look at the data before that happened - the one advantage Germany had was not efficiency (which was poor, despite the massive industrial base they nationalised and the brutal dismantling of worker rights etc.), but its huge population (that they could mobilize to boot). They were bullies piss poor at everything they did, running on ever-growing debt - no different from Stalin or Putin, just pushing ahead by being willing to throw more people into the grinder. Which, hey, does actually sound quite similar to how modern executives and middle managers work. If you don't bear the cost of failure, why wouldn't you go for all the high risk options? You're not really risking anything, and the payoff if you do succeed (at least temporarily) is bigger, so if you have no ethics or a sense of responsibility... Granted, the (soon to be) Allies did have their troubles both in the interwar period and the war, obviously. It was a time of high unrest and plenty of violence. A lot of corruption. But it's hard to find a case that would be worse than what was happening in Germany or Russia. They just had more control over the spread of information. As the Allies adopted more totalitarian practices themselves ("to better fight the totalitarian enemy"), it got worse, yes... but still not as bad as Germany. It's frightening how much of Nazi/Fascist propaganda from the interwar period and WW2 is still spouted left and right, and how entrenched it is in all sorts of media (Hollywood just _loves_ referencing Nazi propaganda). It was just that - propaganda, nothing to do with reality.

the intro is fucking hilarious.

@HowMoneyWorks

4 ай бұрын

My editor really outdid himself on this one :)

@DungNgo-zi8jg

4 ай бұрын

@@HowMoneyWorks Tell him that he needs a raise, ASAP lmao.

@Mpdarkguy

4 ай бұрын

@@DungNgo-zi8jgbut just tell him, don’t actually give him one or something 😂

@DungNgo-zi8jg

4 ай бұрын

@@Mpdarkguy Of course, that's @HowMoneyWorks :))) You get to smell and see the green color, but wont be able to touch it.

CEO: Hey if I get fired can you give me 3 months notice and a 60 million bonus Corporate: No problem, how about another 60 million in stocks as well. Employee: If I get fired can you let me know a week or so ahead of time so I can get something lined up? Corporate: You'd better start cleaning out your desk right now, today is your last day.

No golden parachutes for all the employees laid off due to c-suite poor decisions. And layoffs to boost the stock price rather than increasing actual productivity or innovate something useful

The best CEO will be one who founded the company. He will often care on a deeper level than just money, plus he has build the success of the company himself.

@malcolmcurve9511

2 ай бұрын

True. But the problem is that investors may want a professional CEO for the job and they will vote in that favour

antimonopoly regulations enforcement are not efficient to provide protection against creation of monstrous corporations and conglomerates at expense of small businesses. Less companies, less CEO candidates with experience as CEOs with higher packages.

I personally know a company executive who has trashed a DOD contractor locally in mere years by blowing up their main money making machine by running it incorrectly and illegally abusing covid payment protection program loans, and now he is golden parachuting into an even larger company after costing our local economy hundreds of jobs and hurting our whole city. This shit is disgusting.

11:47 I like the idea that Musk leaving the company triggers some sort of self-destruct sequence like killing the final boss in a Metroid game

@malcolmcurve9511

2 ай бұрын

He is holding the investors at ransom 😂😂😂

Elon Musk is like a real life Homelander taking Vought lmao

The role of "CEO" and "C-suite executive" should never have become a specific type of career or job to the point where people can say they're a CEO looking for another job as a CEO. It should have always remained as merely a position within a company to fill.

You have an incredible internet business man. Keep building, you inspire me a lot.

The intro is a masterpiece

Either you or your editors are from Venezuela haha. That segue into La Vida Boheme was *veeeery* specific haha. Gotcha. Kudos!

Always interesting, thank you.

Experience matters way less than everyone thinks for a simple reason: every working place is different. Not only your tasks could be different but even smaller details like, how many breaks you have, your coworkers' or boss' schedules, the location of the company and such could render whole years of experience meaningless. What matters the most is your WILLINGNESS TO LEARN

Youre the only business channel I watch because you are genuinely intelligent and understand things from a very analytical standpoint. Some business dumbassess think that they know everything about money because they got lucky selling their meme coins.

I want to read the article you wrote about failing upwards. How can I find it?

Great video! Makes a lot of sense

Thank you sir

All engineers know that the World would be a better place if run by engineers - but hey, it's about the journey - and that means making life hard for the 99%

@joepiekl

4 ай бұрын

I think having everything run by people from any single field is a bad idea, no matter what it is. The best stuff happens when you bring together people from diverse backgrounds. But no, instead we have everyone in business being there because they've done an MBA, all learning the same ideas from a single narrow view of the world. And you can add politicians to that as well, with so many of them studying the same subjects and then become career politicians. But yeah, the general issue is having people in charge of companies who are just experts in 'business' rather than experts in the actual thing the business does. That's why you have someone getting fired from a media company and the next month they're being hired by a pharmaceutical company or an energy company.

@babajid

4 ай бұрын

@@joepiekltrue to some extent. I work in Oil and Gas in Canada where 90% of CEO’s have Engineering degrees but eventually they turn into your average CEO and have forgotten everything about how to do the job and are just all about profit. Once you hit that level they are just recycled and move from company to company.

@joepiekl

4 ай бұрын

​@@babajid I don't think that's true. It's more about how easy it is to have certain conversations. I work in education, and it's much easier to have those conversations with managers who were once teachers than it is to have it with people who have been parachuted in from another industry. I wouldn't trust our regional manager to come in a teach my classes, but I know I can discuss academic issues with her.

@Vmac1394

4 ай бұрын

I'm an engineer and I've been put through hell for months because the engineers in management two levels above me were too socially awkward to talk to each other. So I do not necessarily agree with that. I'd rather work for an engineer than a marketing goon any day though.

@ludicrousreality0

4 ай бұрын

we have a major problem . we are introverts

I've heard about this. CEOs usually don't last too long. As you get promoted you might find a really big problem that probably has preceded your predecessor or was created by him. If you're the chief of a department when you find this problem, it can affect that department. If you're the chief executive officer....it can affect the whole company. When you're a chief of the department you can try to keep it from getting worse until you get promoted again or you can transfer, if you're the CEO....you need to keep it from getting worse or destroying the company until you retire. There's less room for escape when you're the chief executive officer. This is one of the reasons why CEOs don't last too long and why they negotiate fantastic severance deals. The other issue is that after being fired from a big company.....there's a big chance that your career is over so that's your nest egg for retirement. New jobs as CEO at another company might not pay as much so you have to be careful. Regarding Musk, he got himself in a bad spot. The thing is, like you've said, Musk already claims to develop AI outside of Tesla. This might actually make the decision to oust Musk for Tesla easier. It is worth reminding that Musk's stunts at Twitter got PRECISELY the people or the type of people he needed for AI to quit or just fired them. Now with xAI, I really wonder who is working for him and under what conditions. Those guys probably barely have to raise a finger a month and get paid and they probably got Musk to pay them a nonrefundable some in advance. Basically, if he fires them, he loses that money. Worth mentioning that Tesla hasn't seen any improvements when it comes to self driving in years and DOJO, the supercomputer that was supposed to help refine FSD, doesn't work. The robotics thing is in infancy at best. Without Musk, Tesla might actually have a decent chance of NOT going bankrupt. Worth mentioning that Musk asked to have 2 classes of share, like Google or Facebook, but that's not going to happen because it would require to make some fundamental changes that would be difficult to do. This is not Musk's first clash with other Tesla shareholders. In fact recently he lost his $50 billion compensation package.

great vid, fam. would love content like this in regards of corporate america

I like the way you threw in an uncensored wtf at the end. It was a nice touch

Would be great to see a video of digital nomads. Hype vs reality, how are they taxed? what roles lend themselves to it? Etc.

@Afterword.

4 ай бұрын

I second this.

@allorfh2495

3 ай бұрын

I dont even know what a digital nomad is so i too support this video idea.

@user-ic9vz8sp1x

2 ай бұрын

@@allorfh2495 It's basically an American tech bro who has a remote job and travels to -poorer- other countries in order to take advantage of the lower COL.

"CEO Fired After Employee Holds Salmon Suspiciously" is so funny lmaoo.

Well deserved for those that took business management and administration lessons. I've been literally rejected from my current competitor that wasted 8+ years on useless college lessons and I am being very generous calling him a valid competitor by taking in consideration his low personal income/cash flow.

@HowMoneyWorks love your videos but I want to know how you do these edits? Is it just premier and after effects and a shit ton of tedium and time? If your news letter shares some of your tips and tricks on your editing style, I'd sign up for it!

Because the main task of a CEO is to be the scapegoat. In most fuck ups they have no idea what actually happened and it was a genuine mistake in middle management. But those guys actually know how to do their job, so you need a public representative that can take the blame in order to cool emotions and keep the brand name clean.

@UNDERDOG18UNDERDOG18

4 ай бұрын

Like a country or university President.

Interested in seeing how Vince McMahon fairs after his recent allegations

An investor told me that he'd rather put money in a company where its manager experienced failure than in a company run by a new CEO with a squeaky clean record. The main reason: experience with a managerial hardship, which means a higher probability of solving a severe problem within the company.

Good one

Would this not create a failing system? Ive seen it time and time again with gaming companies. A CEO that destroyed one game went on to become CEO of another and made exactly the same mistakes and destroyed that next game.

You almost got it at 6:45

Great video as usually I will say like it better when you bleep the curses

Its the fraternity method like college. The 5 firms that the video mention about is all about connections but these connections are nearly impossible to get unless you have social development in C-suite.

I had a manager who is now a VP at the place and he was genuinely a nice guy, but a massive idiot. He was so dead set on certain things despite them just being bad ideas. Failed upwards for sure

Thats sad

Badass video! Can you do a video on trust funds?

Holy shit, there was a policy at Boeing to not put safety complaints in writing! To say "the CEO was fired for something, he didn't had any controll over" is just wrong.

The prediction of a 32% business failure rate in 2024 suggests a challenging landscape ahead. Factors contributing to this potential "business apocalypse" should be carefully analyzed, including economic trends, industry shifts, and the impact of global events. Adaptability and strategic planning will be crucial for companies navigating these uncertain times.

@Pamela.jess.245

4 ай бұрын

That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?

@Pamela.jess.245

4 ай бұрын

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

@honkhonk8009

3 ай бұрын

Litteral chatgpt ass response.

12:28 Ok, this ending caught me off guard, but if that list works for real, that's a new way to democratize the power of dark corporate arts 😳

What can you tell me about the Opera browser? Any videos about the subject matter?

👏👏🙌🙌🔥🔥👍👍 thank you outstanding work

Phil Spencer of Xbox, first person to came to my mind with this 😂😂

@ade1174

4 ай бұрын

Phil Spencer is a significant improvement compared to Don Mattrick before him.

Ah, I should put Fluent in Dothraki.

The executives comes from consultancy firms where the goal is short term looting and the bonuses and stock buy backs are just part of that same goal.

Same goes for head coaches of pro sports teams. Experience is everything, actual results a mere afterthought.

@sor3999

3 ай бұрын

We really do overvalue experience. You can definitely go 10 years at a job and be terrible at it or not learn a damned thing.

"If you call failure experience." - Thanos

Haven't watched it yet but I'm pretty sure it's because of exactly 3 reasons. :D

So does this topic relates only to companies on the stock market?

Oh, a newsletter! Are we gonna have materials exclusively on cable network too ? 😂

These bloated CEOs should be held accountable for messing up companies. L

I reckon we should start hiring from middle managers. If they have the skill to be a middle manager, they have the skill to be an executive. There are a lot more of them, which means we can pay them less.

There's a practical reason too: if a company destroys a former CEO, they are signaling the market that they don't forgot mistakes and people with the skills and mindset to become CEO will not apply for the job. I worked in a company that had 8 acting CEOs in a year. The reason is the company was privately owned and the owner was sanguineous. Any smart person in the market started to avoid working in strategic positions in the company because they knew it would be risky and possibly damaging to their carriers, prestige, images, etc.