How to Unf★ck CEO Pay

[@HillbillyHippyOG]

Maybe add one more rule: each worker within the company is automatically a shareholder. ✌🏼

[@7swordmary567]

National MANDATORY Rule

[@nightoftheworld]

Totally

[@realKytra]

This will be in Decentria’s “constitution” 💪 In decentralism there are no owners, just different shareholders and beneficiaries of companies’ profit. CEOs are stewards with decent payout and limited mandates.

[@Gtex555]

This ignores competition , a good CEO can actually make a company a lot of money whereas most workers are completely replaceable and valueless individually.

[@HillbillyHippyOG]

@@Gtex555 each person in a company is vital, or their position wouldn’t exist. Even the janitor is vital unless the workers don’t need clean bathrooms and empty waste baskets. The idea that one person’s value is less than another’s is a self-serving story told by those who seek to convince others of their own superior value. ✌🏼

[@nightoftheworld]

16:43 “One issue that people have to understand is-corporations don’t exist in a free market, corporations are creations of the government. So we could all form partnerships and we could agree we’re going to collaborate but we don’t create a separate legal entity. That’s something the government has to do and when it does that it sets rules.” And then cut to PBS 3-part series on how Exxon mobile lost its way.. abused its power of influence over the last 40 years, especially under CEO Lee Raymond, joining with the Koch’s to seed massive public denial around climate science in a bid to engineer politics and reduce oil and gas regulation-playing the profit game to the massive detriment of human values and global health.

[@aritragupta161]

This is a very good point. Corporations exist coz govt have already intervened. So if govt intervenes to create corporations that achieves economics of scale and accrue tremendous profits, it makes sense for the govt to ensure the profit is shared among the workers, and that they have in overall a positive impact on society.

[@redrockcrf4663]

Comments on CEOs is bang on. Several years ago in our country, a man won young businessman of the year, and went on a prestigious executive training programme. When he was featured later that year in magazines, it seems he was very good - the top executives that were on that course were calling him up and asking his opinion on various problems. What was his job? CEO of a small plumbing business in a small province. And remained so. Hence talent is necessarily linked to the big companies or perceived prestige, and there's plenty of people out there who can rise when called upon.

[@jerryjones7293]

Corporations are a racket.

[@HillbillyHippyOG]

Wasn’t America founded by an Italian corporation? 😉

[@wartome3196]

Lol will you explain?

[@HillbillyHippyOG]

@@wartome3196 my bad… Spanish corporation… Italy wasn’t a thing at that point. But… in the Concessions of Santa Fe Ferdinand and Isabella (the government) set up the funding and limited parameters for Columbus’ profit-seeking venture. I believed there are more straight forward references, but I can’t find them rn. ✌🏼

[@tuckerbugeater]

Great video! You can see how it explodes with financialization of the economy and expansion of the Fed's balance sheet.

[@havadatequila]

We're in a shareholders-board-CEO feedback loop, where there is no will in shareholders to break the loop. America could choose the responsible way out with responsible reform, but it won't. It's going to opt for the hardest route possible--collapse.

[@Other3.5]

I was trying to explain how share buy backs work to someone and came up with this: A student works really hard, studies, spends lots of time on assignments and earns an A. That A reflects the student's work and efforts. Another student barely studies and makes the minimum effort and receives a C, to reflect their performance. That student goes to the principal's office and says they want to change their grade. The principal says "great, you can use my computer." The student changes their grade to an A. Now, how does that reflect on what the school expects from its students; how does that affect how other students work; and how does that affect the level of continued work and learning in the colleges these students attend. That's what share buy backs (aka legalized - and even celebrated- stock price manipulation) are. The average compensation of CEOs at major companies is about 80 percent stock price based.

[@joeblo7309]

A lot of smart observations in this piece, i like the recognition of the endemic corruption and the systemic lying, To me, the worth of a person is part of a larger societal context and there are many more esoteric aspect to human existence than the ability to control the money valve. People vary in terms of complexity of tasks and importance of function but that is not how we determine their right to breathe oxygen and have access to clean drinking water. American culture continually aggressively seeks to justify how one measure or another of slavery is justified. Anyone who thinks it is ok to have CEO salaries in the tens of millions while people are dying in the streets without enough to eat and without healthcare etc, needs to rethink what is the true value of a human soul

[@ScottDunnC]

Great video. I really enjoyed seeing how our corporations are run.

[@xxcrysad3000xx]

Why in blazes would we subsidize CEO pay of all things? I'm no economist, but I am familiar with the adage "if you subsidize something, you get more of it." If we should be subsidizing income at all, it should be for rank and file workers, not people at the tippy top of the income distribution.

[@Other3.5]

Just to be clear, unless shares are bought at IPO, shareholders don't pay for anything in a company. Companies use their retained earnings (if they follow good business practices) to pay for CEOs, R&D, innovation, employee earned increases and training, market expansion, marketing etc. The market provides a liquid investment for investors - that's it. The market does not provide funding for companies (with share buybacks that exceed net income, the market actually extracts value from many companies). None of this has anything to do with shareholders "paying" for anything.

[@frankisawesomee]

The thing is no one does anything to help fix this issue 😂

[@oneofus6924]

how do we combat tax avoidance due to stock options, then leveraging those options for loans, entirely avoiding paying taxes. i.e. elon musk

[@tommyboy1653]

Nobody is worth more than a few million a year. They pay theirself 25 million dollars a year, and then say $15 an hr will bankrupt the place.

[@aritragupta161]

They contribute to the ballooning of shareholder wealth, not necessarily to the economy.

[@theorderofthepurplephoenix3321]

Amazing points and observations, but there aren’t any good, likely, or possible solutions. I did like the rest of the video though

[@Steve211Ucdhihifvshi]

Think about it this way, If you were a ceo would you take a paycut... fck no, how about then removing the team that support the ceo, for example i work for a company where the ceo earns 4x more than me, she works 3 days a week, i work 5 days, i have no support yet she has a team of at least 10 and every single employee under her to do her work for her. I. unable to work for two companys as its seen as a conflict of intrest, yet shes on the board of two seperate companies and works part for my compa y and part some other, she gets special food for meetings and sets her own schedule. and i work for a reputable Australian Charity.... yeah i wont be there for long because I dont stay for companies that treat ceos like Pharoah and the rest of us that make the gears turn are utterly slaves.... yep fck that. I cannot imagine how anyone in america where the ceos are on multi millions goes to work every day.... fck that

[@jamesmorton7881]

remember the MAX737 MAX aircraft that crashed ?

[@wartome3196]

CEOs did not run global multinational corporations back when it was 20:1. Also that employee you are basing that CEOs wage off, doesn’t tweet one thing wrong and loose the company million. It’s not just about how much value you make the company but how you represent the company publicly.

[@throwawayidiot6451]

Oh cool, look, you picked on one argument out of how many again?

[@wartome3196]

@@throwawayidiot6451 did I need two in order for you to talk about this one?

[@JJRasta97]

This is a terrible take. The argument is about a CEO’s productivity not equaling his/her compensation. Your argument to this is that they have more responsibility than they used to which is why they are paid more, ignoring the whole point of taking a look at this issue through an economic lens and just going with a subjective, “they have more responsibility so they are worth it”. Even the very first example he uses proves your argument invalid. Home Depot is technically a multinational corp - they operate in US, Canada, and Mexico. Nardelli’s claim to fame for trying to keep up with Lowes stock price? Cut labor hours. If you shopped at Home Depot during his tenure as CEO, you could notice immediately that suddenly there was nobody in the store to help you anymore. Again, the point being, from an economic viewpoint his compensation did not match the level of productivity he brought to the company which is bad for society as a whole. And just a side question, are you just playing devils advocate or are you are actually CEO sympathizer?

[@wartome3196]

@@JJRasta97 you are dumb 😂 ceo pay isnt just based on productivity. So why force that conversation that isn’t based on reality

[@pauljulius3389]

I don't agree with him why , because many Ceos don't sleep just because of trying to make the vision bigger . so for that I can say that they deserve to be over paid cause even sharehold none of them has the abilities of taking the companies to where the Ceos want to bring the economy for that I think they deserve the authority and powerful say .