memes

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[–] acutfjg@feddit.nl 112 points 2 years ago (1 child)

Maybe they can stop paying the next CEO 7 million

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[+] Ephera@lemmy.ml -7 points 2 years ago (10 children)

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.

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[–] tempest@lemmy.ca 58 points 2 years ago (2 children)

This is predicated on the assumption that a CEOs skill is directly related to their salary.

This may or may not be the case.

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[–] Ephera@lemmy.ml 1 point 2 years ago

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.

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[–] intensely_human@lemm.ee -3 points 2 years ago (1 child)

This may or may not be the case.

This is predicated on the assumption that people just give money away easily.

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[–] DontMakeMoreBabies@lemm.ee 5 points 2 years ago

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").

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[–] exanime@lemmy.world 27 points 2 years ago

I'm still waiting for evidence these CEOs do anything special... They get paid millions whether the companies they lead succeed or flounder

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[–] KillingTimeItself@lemmy.dbzer0.com 27 points 2 years ago (1 child)

what the fuck could the CEO possibly do for a company that seems to just fucking zombie its way along, it does literally nothing and hasnt died, what could the CEO possibly be qualified for, it's not like they're gaining more market share from having a good product

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[+] Pacattack57@lemmy.world -12 points 2 years ago (6 children)

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.

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[–] exanime@lemmy.world 14 points 2 years ago (2 children)

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??

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[–] general_kitten@sopuli.xyz 8 points 2 years ago (1 child)

I would imagine they can find a perfectly good CEO with something like a 500k/yr salary

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[–] exanime@lemmy.world 1 point 2 years ago*

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

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[–] Ephera@lemmy.ml 4 points 2 years ago (2 children)

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??

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.

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[–] exanime@lemmy.world 2 points 2 years ago

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

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[–] nintendiator@feddit.cl 1 point 2 years ago

Tired: CEOs, changing CEOs

Wired: BDFL

Hey, it works wonders for Python.

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[–] TriflingToad@lemmy.world 10 points 2 years ago

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

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[–] mycodesucks@lemmy.world 7 points 2 years ago* (last edited 2 years ago)

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.

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.

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[–] OfficerBribe@lemm.ee 6 points 2 years ago

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.

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[–] currycourier@lemmy.world 5 points 2 years ago (1 child)

Is Mozilla even publicly traded?

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[–] Ephera@lemmy.ml 2 points 2 years ago

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.

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[–] KillingTimeItself@lemmy.dbzer0.com 0 points 2 years ago

i dont even fucking know who C suites at mozilla, i havent even googled their company in years to see if they even still exist. The only sign of life from this company is when i update my system and firefox also gets updated.

Also, it's pretty cheap to get that knowledge, just don't ever say anything that might lose you money.

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[–] volodya_ilich@lemm.ee 25 points 2 years ago (2 children)

But few people, who are qualified for that job

CEOs do nothing. They rake in millions, and hire advisors to tell them what to do

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[–] MonkeMischief@lemmy.today 8 points 2 years ago

Literally the "consulting" industry. Making millions off of boneheaded C-suites who only know how to pay others to think for them.

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[+] intensely_human@lemm.ee -12 points 2 years ago (2 children)

Then go be a CEO

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[–] exanime@lemmy.world 10 points 2 years ago (1 child)

Need to be a nepo baby for that

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[–] intensely_human@lemm.ee -4 points 2 years ago (1 child)

So if there are CEOs who aren’t related to the board of directors, would that overturn your theory?

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[–] exanime@lemmy.world 4 points 2 years ago* (1 child)

No, they would need to not be related to anyone with influence in the company for starters

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[–] intensely_human@lemm.ee -1 points 2 years ago (2 children)

So what do you mean by “nepo baby” then? Because nepotism is the practice of hiring family.

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https://en.wikipedia.org/wiki/Nepotism

[–] greywolf0x1@lemmy.ml 2 points 2 years ago

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.

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[–] exanime@lemmy.world 2 points 2 years ago

Well, let's extend it to getting jobs mostly through connections and not merit

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[–] volodya_ilich@lemm.ee 0 points 2 years ago

When did I say I want to be a parasite? I want to abolish CEOs, not become one of them

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[–] kameecoding@lemmy.world 23 points 2 years ago

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.

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[–] Wooki@lemmy.world 12 points 2 years ago

Oh noo.

So anyway

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[+] orcrist@lemm.ee 8 points 2 years ago* (last edited 1 year ago) (1 child)

[deleted]

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[–] Ephera@lemmy.ml 3 points 2 years ago

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.

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[–] AdrianTheFrog@lemmy.world 8 points 2 years ago

Oh no, I'm sure there won't be anyone else who would like to be CEO if they quit.