this post was submitted on 08 Aug 2024
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That CEO quit earlier this year.
Maybe they can stop paying the next CEO 7 million
Maybe that CEO will also quit, because other companies offer them a higher salary.
It's so easy to say they should just pay their CEO less. I mean, I get it, it's a ridiculous amount of money that no one needs. But few people, who are qualified for that job, will just do it out of the goodness of their hearts for a salary far below industry standards.
This is predicated on the assumption that a CEOs skill is directly related to their salary.
This may or may not be the case.
I don't think companies care. If you're the CEO of Mozilla for a year without it imploding, you're looking very experienced compared to some of the applicants that medium-sized Silicon Valley companies, like Dropbox, Evernote and such, will get.
And if Mozilla is only paying you $200k, they'll consider it an absolute bargain to give you tenfold that.
This is predicated on the assumption that people just give money away easily.
I mean, they do... the higher my pay goes the less actual work I do (thinking is not actual work). And I keep getting promoted.
It's dumb as hell but the only answer I've come up with is maybe not everyone can do the "stupid monkey shit" (i.e. "Someone get this herd of retarded cats to do literally anything").
CEOs do nothing. They rake in millions, and hire advisors to tell them what to do
Literally the "consulting" industry. Making millions off of boneheaded C-suites who only know how to pay others to think for them.
Then go be a CEO
Need to be a nepo baby for that
So if there are CEOs who aren’t related to the board of directors, would that overturn your theory?
No, they would need to not be related to anyone with influence in the company for starters
So what do you mean by “nepo baby” then? Because nepotism is the practice of hiring family.
Well, let's extend it to getting jobs mostly through connections and not merit
It's not limited to relatives only, it could also be a friend or a friend's friend. Rich ppl know each other, as someone once said "it's a small world and you're not in it.
https://en.wikipedia.org/wiki/Nepotism
When did I say I want to be a parasite? I want to abolish CEOs, not become one of them
They are the face of the company. If they are shit at communicating it will affect share prices which could end a company. They have to say the right things at the right times or they could potentially break laws by saying the wrong things.
There’s a lot of stuff they need to know and it’s not cheap to get that knowledge.
I love all the vague, ambiguous examples that say nothing.
I mean, the Intel CEO just literally quote the Bible... I guess you need a lot of education for that
Look, I understand you can't get a high school dropout to do this job, but can they really justify earning 10000x more than other people in their companies? Are they 10000x more valuable??
I would imagine they can find a perfectly good CEO with something like a 500k/yr salary
I believe so as well, and it would be a true representation of their value to the company
Throw in some nice perks like a company car with driver, and a nice expense account as I imagine they have tons of business meals to be generous
Everyone here is talking past each other. There's one crowd raging that CEOs do literally nothing, which is objectively untrue. When that is pointed out, people assume it to be an argument that these CEOs should be paid that much, which it's not.
CEOs do things. If they're non-shit, they'll work significantly more hours than normal workers. No, that does absolutely not justify paying them magnitudes more. Their salaries are inflated, because publicly traded companies pay them that much.
Because while the effort a CEO puts in does not match the salary, the impact of their work does so more closely. As in, if they're doing a bad job, the losses for the company will far exceed that salary.
More importantly, though, you want to keep one CEO for as long as possible. Even if their strategies are mediocre, constantly changing CEOs and therefore flipflopping between strategies is worse.
When people say "literally nothing" I just assume they are exaggerating and adjust it to "nowhere near enough to justify their salaries". No need to argue that point.
The issue here is that if they do a bad job and lose a shit ton of money, they'll just get a golden parachute and live but ruin another company later, and this is the worst case scenario. But if you do a great job under said CEO, you'll get a pink slip and a 1 finger salute
The entire game is rigged for them, heads they win, tails we lose
So, even agreeing they some some work and said work could be important, I still hold zero sympathy since they don't need it, and definitely do not deserve it
Hey, it works wonders for Python.
I can't even tell you who the CEO is off the top of my head, if they're the face of the company they're doing a bad job
I notice, very glaringly, you didn't mention a SINGLE thing about the company running efficiently, being profitable, producing something of value...
It's not that the company could end if it doesn't do well at what it does. It's that the company could end if fickle, short-term focused asshats aren't happy, and to keep them happy, you need a head fickle, short-term focused asshat at the helm.
God, I wish every company could just be private.
If that's all there is, it sounds like you just need good legal and marketing department and someone who is attractive to deliver their script.
Is Mozilla even publicly traded?
Nope, they aren't. The Mozilla Corporation, which does Firefox development and has the CEO position that everyone's talking about, is a 100% subsidiary of the non-profit Mozilla Foundation, which is the organization that you can donate to.
I'm still waiting for evidence these CEOs do anything special... They get paid millions whether the companies they lead succeed or flounder
This shit right here is why we have capitalism and classes, peolle believing a ceo does something so special no one could possibly do it.
Shit might be true for things like software development, science stuff not some overpaid C level exec.
Oh noo.
So anyway
Oh no, I'm sure there won't be anyone else who would like to be CEO if they quit.
What I primarily meant by that, is that you do need some knowledge about financials. Which isn't hard to learn, but the group of people willing to learn about it has very little overlap with the people willing to do something out of the goodness of their heart.
Solution: H1B visa CEO
Too expensive. Just get someone undocumented to do it for pennies, then threaten to deport them if they ask for a raise.
All it takes is one person