this post was submitted on 08 Aug 2024
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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??
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.
Hey, it works wonders for Python.