unnecessary expense
unnecessary expense
cross-posted from: https://lemmy.blahaj.zone/post/24651479
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28 comments
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A good example of the ignorance of the masses and the left
The Board of Directors selects (and pays) the CEO.
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You are quite ignorant yourself.
Executive compensation is ALWAYS a question that is voted on during shareholder meetings. Guess who owns majority stock?
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Depends on the company.
Tim Cook, CEO of Apple, owns 0.02% of Apple for example. This is #1 largest company in the world.
Satya Nadella, CEO of Microsoft, owns 0.01% of Microsoft. This is the 2nd largest company in the world.
Jensen Huang is 3.5% of NVidia a serious level of ownership but a far cry from controlling the board. 3rd largest company but the biggest shareholder is Vanguard group at over 8%.
Institutional banks have the largest leeway, by far, in all of these companies. Understanding the voting structure of these companies is important if you don't want to sound like an ignorant dumbass.
Yeah, there's your Elon Musks and whatnot as exceptions. But they're really rare even in the scope of top companies of the SP500 and whatnot.
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Those evil boards, FORCING ungodly sums of money into a poor CEO's pocket :(
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Non sequitur and you know it. Hopeless blathering hoping to find some way to make this meme correct.
Just rewrite the meme correctly from the start so that it's actually a reflection of reality rather than a reflection of ignorance.
These low effort memes are just that. Low effort communication. Misinformation is bad in all regards and if shitty incorrect arguments are all that is needed to convince you of .... whatever this is.... then you're an ignorant uneducated fucked citizen. Surely you see the problem here?
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That's meaningless pedantry that doesn't contribute to the discussion or alter the message in any way, but go ahead and give yourself a pat on the back for showing everyone how very, very smart you are.
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The board of directors removes the obvious corruption argument.
And shareholders select the board of directors anyway, so if shareholders agree to new terms of values then CEOs can and will be fired.
I'm looking at Intel for example and how they mistreated Pat Gelsinger and fired him despite being a technical leader. And the new incoming CEO is Lip-Bu Tan, who is a non-technical finance bro who is worse. Why did the shareholders (and board of directors) prefer Lip-Bu Tan?
There is a large scale hero worship bro culture that's at the root of all the problems here, a culture that millions of shareholders have which is then passed to the Board of Directors and finally the C-suite that the Board hires.
But no. Let make shitty memes that misunderstand the power dynamics and perpetuates misinformation. That will help your argument lol.
EDIT and that doesn't even get to say, all the CEOs who take a $1/year paycheck just to prove you wrong. The problem here is hero worship cult culture. The pay and salaries are a distraction and easily avoided with various simple political / Public Relations moves.
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The board of directors removes the obvious corruption argument.
Hum... Not exactly, but it does shift the burden.
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I really don't see how that makes much of a difference. The CEOs can just leave if the board doesn't pay them what they want. And since the boards want them specifically as CEOs, they end up paying what the CEOs are asking for. So the CEOs are paying themselves with some extra steps. Or am I missing something?
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That's literally the same power you have at work. Just leave work if you don't like your paycheck.
Do you see how stupid that argument sounds now?
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I think its quite a different thing for someone who has a net worth in the millions. It's not the same at all for someone living paycheck to paycheck.
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Exactly, except in reverse.
If you want to attract the talent of someone who has networth in the millions+++, you need to pay them more.
The form of your argument and where you are going with the discussion is very short sighted. This isn't a path to any actual winning argument. I suggest you start elsewhere.
This is the problem with shitty memes. They poison your brain and make you dumb. If you actually want to make a reasonable argument throw this topic away and start anew.
It's not you who is wrong. It's this meme. It's just a terrible starting place for discussion and is innately to your disadvantage.
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Everyone stop wasting your time. This guy is obviously a corporate bootlicker or is in the C-suite. You can't reason with people like this.
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Lulz. If you can't spar with me, you will get eaten up by the actual far right / mainstream Americans out there.
Be happy I'm willing to come over here and push back against your bubble. You guys obviously need it if you're upvoting shitty misinformation memes like this.
The best part of this entire discussion? Elon Musk is part of the $1/year salary club. Your entire fucking meme doesn't even apply to the most corrupt of CEOs.
Your argument sucks and you should make a new one. Sorry I'm the bearer of bad news but that's better than y'all idiots going out to the real world and having a far right goon own you in a debate.
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Mmmm yessss I can feel you being triggered. Look how much you're posting in this thread. Most of us are just pushing your buttons. Go touch some grass
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Ah yeah the standard low effort copypasta canned arguments.
Go learn to write more than a copy/paste and try to understand topics moving forward yo. Pretending to be an uncaring sociopath online is like Twitter / X shit. This is Lemmy, I presume you are here because you actually give a shit about these discussions.
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The problem is that anyone has a net worth that high to begin with. Nobody is able to work that much harder than a regular worker.
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Which makes this better, how?
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It's not about better or worse. It's about being correct and understanding the people and societal structures at work here
If you aren't interested in knowing how and why CEOs get paid, maybe don't make dumbass memes about this subject.
Or do. I don't give a shit. But good luck having people believe you if you can't even get the basics correct. Or otherwise feel good that your online culture got infiltrated by blatant misinformation.
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If you aren't interested in knowing how and why CEOs get paid
Sure, I'll bite: Why are we paying CEOs such exorbitant salaries while the workforce struggles?
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The board of directors is doing so. And they do so because the board follows the will of the shareholders. And the shareholders ultimately decide the fate of companies.
But that won't fit in a simple meme will it?
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The goal of the shareholders is to pay huge sums to the C-suite? That seems at odds with maximizing dividends for themselves.
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Because today's hero worship culture makes the mass of shareholders believe that these CEOs have skills that cannot be replicated by cheaper labor.
But that's not quite as simple a problem. The issue is that you are up against literally millions of shareholders who have different values than you.
Go talk to a Tesla shareholder. They pretty much think Elon is a god. So no amount of salary is too much as long as they get Elon leading those companies. (But Elon also only takes a $1/year salary anyway to prove how awesome he is, so this entire discussion train is immediately derailed if you actually start trying to apply it in practice).
This entire meme just fundamentally misses the entire fucking problem and is nothing more than a distraction.
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28 comments