WTF Do CEOs Actually Do All Day?

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A good CEO can build an average company into a billion-dollar success, and a bad CEO can destroy even a strong company in less than a year.
With so much on the line shareholders happily pay these privileged men an women millions of dollars every year for their services. But they are still just employees, they come to work every day and go home like everyone else.
So what do these people actually do all day? The real answer to what a CEO actually does is… whatever they want. Within the company they are only answerable to the board of directors and the only power that board of directors has over them is to decide their compensation package, or to fire them. The board of directors themselves are representatives of the companies’ shareholders and in a lot of small companies the biggest shareholder and the chairman of the board is also the CEO so the board can’t do anything apart from give advice and hope the CEO listens to it. That’s only for small companies though, it is INCREDIBLY rare for the CEO’s of public companies to have this much power, in fact there is only ONE company in the S&P500 where the CEO can not be voted out by the board and that’s META’s Mark Zuckerberg since he owns a majority of a special type of share in the company. For every other CEO their only real job is to not get fired by the board. The best way to do that is to keep the board that represents the shareholders happy by delivering strong investment returns.
Make line go up is a simple objective but it still doesn’t answer what they actually do all day since that goal can be achieved in so many different ways, but I have to make this video before Good Work makes a funnier, better version of it… again…
So let’s imagine that you wake up one day in the body of a random Fortune Five Hundred CEO and you need to make it though the day without being found out, here are the things that ONLY a CEO can do from the moment they you walk into the office until the moment you leave… probably quiet late at night…
The first task that ONLY a CEO is allowed to perform in a large company is to chose the direction the company will take. As CEO only you can decide if your company will acquire another company, introduce a new product range, focus on growth or cutting costs, open in a new country, or just keep things running exactly as they are. A good CEO should talk with the board, their employees, and occasionally outside consultants before making these decisions. As a CEO talking to these parties can alert your to risks that you have overlooked or better opportunities to pursue instead.
As a CEO there are different ways to get this feedback, some try to be as hands on as possible, they will talk directly to customers, do their own sales calls and work weekends at stores. Other CEOs decide what to do based on financial statements and the advice of the senior managers that pass feedback up the corporate hierarchy. The first type of CEO normally get’s more praise from being a hands-on manager that really knows their business, but both styles have pros and cons.
A CEO that spends too much time performing low level business operations can get too concerned with details. A hands on CEO can only manage a company so large before their style of management becomes incompatible with getting the information they need to make good decisions.
No matter what approach you chose to take, as CEO you are still the only person that can decide the direction of the company, are you going to rebrand to X.com? Are you going to remove a headphone jack from your flagship product? Are you going to pivot from selling books to selling everything? The average CEO does not make that many big decisions in a day… they often don’t even make that many big decisions in their entire career, but they do spend a lot of their time every day talking to people whose opinions they value, so when they DO need to make decisions, they can make the best ones possible. But making decisions that could change the course of an entire company’s future is just the first thing that a CEO needs to do when they get to work, and the other three tasks don’t get any easier.
So it’s time to learn How Money Works to find out what (good) CEO’s actually do all day.

[@HowMoneyWorks]

The State of AI in Marketing in 2023: clickhubspot.com/jip

[@iluvpandas2755]

Nice video!!!!!

[@thejanitor3337]

Please never promote AI in any form ever again, thank you. There is no current ethical form of utilizing AI. Even the most gentle of AI tool still has its basis in data harvesting or job elimination.

[@roxaskinghearts]

obviously their apart of phub what els do lonely old white dudes do all day when their to broke to go buy a one night stand

[@MoniqueCherubin-tm3bq]

Can you make a video about BRICS?

[@memus3852]

Thanks for sharing this. It's the best timing ever for a sponsored content xD

[@stevechance150]

CEO talks to outside consultants, hires consultants to perform an "Enterprise-wide Analysis". CEO does what consultants recommends. If this results profits, CEO takes ALL the credit. If this results in failure, CEO tells Board of Directors, "We hired the best-in-breed, expert consultants, their plan failed... we'll never use them again".

[@KingUnKaged]

In the case of failure, the CEO then hires a different consulting company staffed entirely by people with previous experience from the last one.

[@ikaraca]

This is literally corporate 101. very well put

[@zwerko]

As someone who was on both side of the C-suite fence, I can confirm that this is 100% accurate.

[@ThorOdinson1269]

"You hired them so your fingers go."

[@Freakazoid12345]

Nice.

[@512TheWolf512]

Ideally, the CEO is someone who makes all the actual decisions and consequently, should take all the responsibility for anything that goes wrong in any way. Ideally.

[@GYI5U]

Yeah and ideally an emperor only ever works to better his subjects

[@Shredderbox]

The idea of a CEO taking responsibility for their decisions is laughable.

[@kaijuultimax9407]

Nah just throw some middle managers under the bus to sate the shareholders.

[@stevenneiman1554]

I mean, they can't really make "all the actual decisions" because there's too many. What they can and should do is make the most important decisions and delegate in such a way that the people filling in the details do so well too.

[@YoloSWAGJude]

But how does this work? Imagine the company had a great loss thanks to something the CEO did. Now the company has not enough money to pay everyone. The CEO gets fired and now? All the other employees are safe? But then the company will go bankrupt. So fire some of them? But then the CEO wasn't the one taking all the consequences. Even in this theoretical thought experiment it doesn't work

[@stevenneiman1554]

One of the biggest problems with leadership and especially CEOs is that between distance, perspective, and ego it's very easy to have no clue how the rank and file think of you. My company is constantly putting out pep emails about how well the company is doing, how much the leadership team cares, and how devoted we allegedly are to customer satisfaction and shareholder value, but it has a negative effect on morale because the team I'm part of has to cut corners, prioritize whether we have time for lucrative work, and apologize to customers for failing to do right by them and keep our promises because we're understaffed, undersupplied and undertrained. We'd still be unhappy about things being bad if the leadership team kept their mouths shut, but emails which show that the higher-ups are either delusionally out of touch or blatantly dishonest just add insult to injury on top of wasting a few more minutes of our already stretched thin days.

[@teddy90636]

nothing worse than being at work and getting direct push notifications to my phone about how great the company is.

[@GodwynDi]

Or, like where I recently quit, company wide meeting where the CEO is talking about record profits and how the business is expanding just weeks after an announcement that no one in the rank and file of the company was getting a raise.

[@Zuranthus]

bro, executives are like 5 levels removed from anything having to do with the rank and file (leads, super visors, manager, senior manager, district manager, regional manager, director) you think they have any clue what's going on down there when they barely tour one of their facilities once in a blue moon and get the quick walkaround by the ops manager and off to steak dinners in boardrooms it is

[@scottjolteon9033]

I feel you man, it's been the same at my actual workplace since I've been there, putting up a facade but if you look deeper those values aren't actually respected because we're understaffed and don't have enough ressources to do the job right without cutting corners and working OT

[@krox477]

Any relationship based on labour is going to be transctive

[@STRLRD_]

Corporate is very weird, at least for me who is relatively new (2.5 yrs), people are very weird and the level of fakeness and passive aggressive nature is shocking

[@iExploder]

Culture depends on the company you work for. Not every corporation is like that.

[@noahjones9833]

@@iExploder but most, and its the not only the common and growing trend, but the nstural trend. Youre fooling yourself thinking companies will choose naturally trend to ethics.

[@krox477]

Most people in there are for money no wonder

[@Gokuguy1243]

You write well for a 2.5 year old

[@Denastus]

@@Gokuguy1243🤣🤣🤣

[@ToyTiger666]

Before tech companies relaxed rules for everybody in the 90s, conventional companies made allowances for so-called champions. These were exceptionally talented people - or geniuses, in modern jargon - who would have been stifled by the usual rules. They were given a lot of leeway in how they could spend their time in the hope that they could make important contributions outside the rigid framework deemed required for everybody else. It often paid out.

[@mouthfulacoque3580]

now look where we're at

[@amandasunshine2]

​@@mouthfulacoque3580a bunch of manchildren

[@nickthompson268]

A great example is Steve Jobs

[@epbrown01]

Steve Jobs is also a great example of the positives and negatives.

[@amandasunshine2]

@@epbrown01 what positives? When you look into what actually happened, you realize he was really only the face. And an abusive one.

[@KayGee_yt]

At my current job I work on the same floor as all the executives. 90% of the time they're not in their offices. When they are there, the best I see them doing is having a conversation. Not a meeting - just a chat with their buddy

[@VYBEKAT]

Yeah I've seen this too. They like to claim they work 70 hour weeks. That "work" constitutes occasionally taking a phone call at their luxurious homes or going to wineries and chatting it up with other rich people. They make six figures, while the employees who do real work on their feet 10 hours a day can barely make ends meet.

[@SF-eo6xf]

80% of work for a leadership position is talking

[@WheepyUwU]

​@@VYBEKAT...have you ever talked to a ceo lmao

[@jasondashney]

@@VYBEKAT depending on where you live, six figures can also be barely making ends meet. I live in Vancouver Canada, which is one of the most expensive cities on planet earth, and $100,000 a year doesn't mean too terribly much when a one bedroom apartment can cost you up to $3k a month in a regular condo building. Go upscale and all bets are off. The prices are completely insane.

[@aiyenuroseun6225]

😂😂😂😂​@@VYBEKAT

[@brendanwiley253]

A good CEO just seems to be the King of the business, listen to everything that happens, judge what is good and bad, and then case by case do what you think needs to be done.

[@suave5692]

In other words probably a psychopath who makes the games of economy and politics his absolute focus, honorable exceptions aside.

[@markstewart4501]

The "moral" political party tells everyone that "business is business", and then says any moral cost is a burden. The "other satanist" political party tells you they care, but do the same thing as the party pretending to speak for cloud guy...greed, that is the system. You wont see it if you are convinced that something other then money has any sway on the choices made...Sure, they will not make some choices if they see themselves loosing money...THEY CLEARLY STATE that shareholder profits is their objective.

[@mme.veronica735]

A King??? Screw that why is there monarchy in my workplace where I spend nearly HALF of my waking life! Let's have a democracy, where the people actually on the ground doing the companies work decide who leads it!

[@tobcotab]

The T-shirt example is especially true to the company i work in. The ceo always comes in wearing Tshirt and tracksuits. Only dressing up properly when there is a big meeting. But everybody else has to dress up properly. He claims that hes doing this so everybody can see he is just as normal as anybody. Well... its not working.

[@tunebeat3809]

That made the CEO look bad long term.

[@fantajuice8125]

Well he is the boss and he can do wat he wants😂 is that too hard to understand?

[@Window4503]

@@fantajuice8125 He's human and if he's going to make demands of others, then he should practice what he preaches. Quit licking boots.

[@omrozh]

Being a CEO is easy money if you are in a big enough company. Let people do their jobs, don't be too shy or too outspoken, don't rape anyone (which is for some reason the hardest part for some of those people) and retire with $100 million after 3-5 years. You will not be remembered as a legend but you won't get into any trouble either. 3-5 years isn't enough time to miss out on an opportunity but it is enough to make bank.

[@tunebeat3809]

I guess a number of CEOs don't think like that or just want to act like petty tyrants.

[@calebbarnhouse496]

​@@tunebeat3809you can't get to the rank of CEO at a large corporation because you were nice, you got to be CEO by kissing ass on people you hate, or because your dad who did that is retiring, and now you have all the power

[@youtubeuser1052]

You missed one of the most important things a CEO does. They decide who to hire, who to promote and who should "spend more time with their family". The people one, two and three levels below the CEO are immensely important to the success of the company and the CEO is ultimately responsible for who those people are. A CEO who nepotistically hires incompetent friends and family for cushy giant paychecks will drive a company into the ground. A CEO who can't tell skill and talent from fakery will drive a company into the ground. A CEO who can correctly identify, promote and compensate the right people will have a company that excels.

[@SusCalvin]

You have to use competent nepotism and hire your most functional friends, family and chums to those spots. And know which relatives need to be placed where they can't do much harm.

[@ege8240]

so take credit of successful people?

[@youtubeuser1052]

@@ege8240 I don't understand the grammar of "take credit of". If you mean take credit for being able to tell the difference between people who will be successful in the future vs people who will not, then absolutely a CEO should take credit for hiring the right people. Exactly what I wrote is that a CEO's most important job is to be able to tell the difference between people who will be successful and people who won't. A CEO who can't tell the difference will drive a company into the ground. Hiring the right people is absolutely a skill, and a lot of people don't have it.

[@Erowens98]

​@@ege8240no. Identify, manage and synchronize the most skilled people available.

[@colbyboucher6391]

​@@ege8240 Sort of. It's also taking all the criticism if something goes wrong. That's what happens when you're the public face. And are you looking at a truly successful person, or someone who snuck their way up but isn't very competent? They're spending all their time in meetings because they're trying to figure out not only who that one potential person they should listen to is, but who everyone THEY work with are and what they suggest about them. And so on. And then turn around and try to mush what all of these people are telling you about the company into a coherent story that you can tell investors. I still agree completely with the sentiment that these people are making way, waaay too much money and don't grasp why investors don't force pay cuts. It must be an emotionally stressful job but it's also true that it's not a whole lot of "real work" even if it's entirely necessary.

[@JeffreyGillespie]

Being a CEO boils down to time management and making a handful of extremely important strategic decisions every year.

[@JamilaJibril-e8h]

Am looking forward to it 😄😂😂😂 I love being spanked

[@flaming_ace]

😂😂😂😂😂😂😂😂😂😂😂😂😂 great way to make it seem important, when its just a single person making the decision rather than the entire company as a collective, a democracy. most of management in their current forms are entirely parasitic on businesses, though theres absolutely a need for a certain type of management to ensure interoperability between departments

[@redfather5342]

That's it well

[@AlexFariaOliveira]

I can't tell you how much your channel is helping me have a broader perspective on Bussiness. It's because of your channel and analisys over enterpreneurs that I realized I shouldn't be worried about a partnership my mom's company was entering. I was really concerned that It would mean that other company swallowing ours and maybe even killing it on the long run, but since you showed that there are certain thresholds for new companies I analysed and realized that we were unable to keep up with the demands necessary to grow, and that was what this other company proposed: That together we have the potential to grow even more than alone. Of course we are not naive and plenty of bussiness lawyers are being consulted in order to show the pitfalls and tailor a contract that will protect us and them in the event of the "chemestry" do not work. But my confidence to take this step was due to what I've been learning on your channel!

[@chawaphiri1196]

"...Before goodwork makes a funnier better version..."😂 that got me 😂

[@ezraodole933]

Like did no one else catch that, I went back to make sure I heard it right 😂

[@martinshoosterman]

I love how the statement "unless you want to pay all of your staff like investment bankers or doctors a more relaxed corporate environment is expected" and then you showed a picture of google. I mean they do have a more relaxed corporate environment, but they also pretty much pay similarly to investment bankers and doctors

[@JosiahTaschuk]

CEO pay has risen far too quickly, outpacing workers incomes at an unsustainable pace.

[@WanderingExistence]

Worker Cooperatives usually have a bylaw that doesn't allow head management to make 20-30x more than the lowest employee. Cooperatives can do this because their bylaws are voted for by the workers themselves. They can even participate in profit sharing.

[@randomuser5443]

Entirely after we separated value from physical production. The digital economy ruined a lot of things

[@JosiahTaschuk]

@@WanderingExistence in the United States, on average, CEOs received about 398.8 times the annual average salary of production and nonsupervisory workers in the key industry of their firm.

[@JosiahTaschuk]

@@WanderingExistence unions and cooperatives tend to treat employees more fairly.

[@vladyslavkorenyak872]

Then go be a CEO if you think it's worth it for you

[@Adones09]

Ugh, 45 hours out of 62 in meetings? Are CEO's okay? Do they have black lung from all that hard, back breaking work? Imagine all those breakfast/lunch/dinner meetings! That is inhumane!

[@VYBEKAT]

😂

[@calebbarnhouse496]

Hey man, don't forget that they deadicated a whole 3 minutes in the company wide meeting to the employees, or the fact they had to call in It to connect them for there zoom call

[@samplautz5586]

Thankfully there are CEOs out there that have good morals and are great to work for. Take the CEO of Canes for example. During Covid he didn’t take a salary so that he could guarantee all of the employees of the company would still get paid

[@luisfilipe2023]

TLDW: they meet with a bunch of people who help them make decisions

[@journeytothevoid2899]

This goes to show the skills of judgement and discernment are more essential than actual technical expertise once you get to a certain level.

[@ProjectExMachina]

You forget the most important job: don't go to jail

[@tadeolho3634]

equal president

[@sunder739]

much like how the presidents in the country, they got to listen to people in order to optimize their corporation's performance

[@JosiahTaschuk]

Plain bagel guest appearance was awesome lol.

[@JosiahTaschuk]

*Cameo was the word I couldn't think of lol

[@corayskate5962]

This was the comment I came looking for

[@ryandwm]

I feel like the role of ceo has changed drastically over the years and this may not be true for all companies but at one point they were the spearhead for their companies. A lot of people complain about their pay scale and while I do believe many are overpaid it’s a hard job. For the most part you’re on call 24/7 when the shot hits the fan you have to make the ultimate call on how to move forward. Make the right call and you’re a hero, make the wrong one and your job is very much on the line. Props to the good ones that foster a good work environment and do right by their company and it’s employees. On the other hand situations like the banking crisis in 08 where they got bailed out by our tax dollars and had the audacity to pay themselves bonuses while the common man suffered immensely. Those type of CEO’s should be “strongly condemned” I have other ideas of what their fate should be but I’ll keep it pc for KZbin. Be interesting to see a show where “normal” people whom think they could do the job get to run a company for a period of time and see how things pan out

[@victorugo3875]

"but at one point, they were the spearhead of their companies" What do you reckon they are now?

[@tymondabrowski12]

"Make a bad decision and your job is on the line" - I mean most people's job is very much not guaranteed these days. And CEOs at least have the convenience of having lots of money. And often they do get so called "golden parachutes" (in form of money or opportunities) from the company too.

[@papervulture]

sure, but plenty of jobs are stressful. it's not like we pay emergency responders millions of dollars

[@iExploder]

As long as I get CEO pay and invulnerability along with CEO responsibility, I'm game.

[@ubcroel4022]

Publicly flog them

[@AncientTrogloxene]

The C-suite is notorious for compensation like retention bonuses. How is a retention bonus anything other than a lucrative participation trophy? So, most of CEOs time is spent as front man for the marketing dept., being in the media, giving speeches, attending conferences, self-indulgent leadership boondoggles, etc., and often supplementing their income in the process. How many CEO roles can already be replaced by technology, like stock brokers/analysts replaced by quant routines? How many more with soon be replaced by automation that will make corporations self-driving?

[@BTrain-is8ch]

As an individual contributor with a retention bonus on the line they're golden handcuffs. Companies take people they want to keep on staff and know are flight risks then give them an incentive to stay put or at least something to make a move a bit more complex. Plus they look good from a morale perspective. Hell that's part of what bonuses are in general. Incentive to stick around that extra N months/a tool for making leaving have a non-zero cost. If I decide to go elsewhere I'm negotiating the new company paying out my bonus anyway but that might work in my current employer's favor because it makes me that much more expensive of a hire.

[@AncientTrogloxene]

@@BTrain-is8ch, agreed. An empty suit that is a successful figurehead would be just as good a front man for some competitor. Seems retention bonuses should be more common among production employees to help reduce the risk of skill and knowledge base attrition.

[@sybrandwoudstra9236]

A CEO has to keep track of the things happening in the company, decide the company's direction, and succesfully allocate resources. This means multiple jobs and responsibilities Stock analysts have a very narrow field of responsibility, where they need to excell at. They usually have the time to focus on that specific thing. They are very different jobs and for both technology will suppliment the role, not take the role. Corporations will never be self-driving, but they might become more streamlined. Large cormporations are notorious for being terribly run places where no one has any idea where one's responibilities end and another's begin. Leading to things no one is responsible for.

[@AncientTrogloxene]

I have heard this theory for longer than a generation,@@sybrandwoudstra9236. Have rarely seen anyone who even attempts to do any of the C-suite roles comprehensively. Agreed that conscientious leaders and managers are more commonly found in small organizations like start-ups and mom-&-pop shops. The technology is being developed.

[@kyo250996]

LOL that plain bagel cameo XD 5:42

[@jaredmcdaris7370]

A CEO’s chief function is mascot. Similar to management in general, they serve to funnel systemic critiques into personal resentment, which is much more easily dismissed and/or ameliorated at the individual level by those in power.

[@bigtom1948]

A multi million dollar mascot? No one working for any company is worth a even a million per year.

[@christopherflorez6592]

Categorically false. Consultants & lawyers can be billed out at over $1M a year starting. Later in their careers, they can bring in $2MM a year easy.

[@rauaf]

​@@christopherflorez6592what do you mean starting? 1st year starting their careers at 22 or 1st year working for big money at 32? 🤔

[@christopherflorez6592]

@@rauaf At roughly age 25, first-year associate at a law firm can be billed at $500-$700 an hour. An MBA consultant (25-26 y.o.) can be billed at a weekly rate of like $30-60k. Does that help?

[@rauaf]

@@christopherflorez6592 both your replies have mentioned "they CAN be billed"... So I'm just wondering, what percentage of 25 yo CAN and ARE actually billed that amount? What is different on their profiles and backgrounds? Do they, on average, get a similar or higher income the rest of their lives or is it merely to show everyone can and should therefore pursue that same goal? Is that also sustainable and fair for the vast majority who won't earn that amount? Money is extremely important, I agree, but not the most important, yet.

[@AnnelisR]

I watched and paid close attention to that whole video and still heard nothing that a CEO does that’s worth two hundred times more than the workers on the ground who actually make their company run.

[@epbrown01]

Jensen Huang at Nvidia makes $21M/year. That's probably 200 times what the rank and file make. It's also only *1.8%* of the $1.14 trillion dollar value he led the company to reach so far.

[@shaunsensei6948]

Maybe try being a CEO and you'll realise

[@sirnonapplicable]

​@@shaunsensei6948Dude the CEO of my company is one of the most well-rested individuals there. The majority of his technical staff are run ragged, and this schmuck still has time to do a Spartan Race. I'm already having to work close to 80hrs a week and go in on weekends as an engineer, but the difference is I only get 65k/yr and 0.02% of the company post dilution. Yeah, I'd rather be a CEO - at least my ROI would be worth it.

[@MistaWordz]

​@@sirnonapplicableIdk where you live, but if you live in the US only making $65k/yr as an engineer, you need to go to a different company because most make 6 figures here.

[@youtubeuser1052]

Then don't invest in companies that pay their CEOs that much. CEO pay is public information filed with the SEC. You can look it up before buying shares in any publicly traded company. You can pretty easily come up with an investment strategy where you buy shares in companies that pay their CEOs relatively small amounts. That might actually be a pretty good strategy.

[@EladarImm]

CEO here, actually - solid video! I had a few thoughts, though I doubt folks will see this or bother reading. But, for those who do: One big thing is you don't really get down time. You're always thinking about work to some extent. Weekends and evenings end up getting spent on catching up on things so they don't pile up - stuff you couldn't get done during the week, because you had too many meetings, or some emergency popped up that only you could handle, and it derailed you for days. If I have a free minute from actual work, it's typically spent on self-improvement: usually a work-related podcast or book. Something like this channel is usually in the background while working on something else because it's more efficient. Physical and mental health also take on a new level of importance, because it affects decision-making; so you have to optimize exercise, eating, etc. A typical week for me is around 80 hours, usually more. By contrast, typically everyone else works a 30 hour week unless they choose to do more (which I make a point to strongly discourage). I try to squeeze in an hour of video games in the evening, or 30 minutes of painting to unwind: I've had 11 days off since I started in March of 2022, and 4 of those were for health following a protracted period of higher-than-average stress. Sure, you have the ability to set direction, and you have a lot of freedom. But with that, you are ultimately responsible, and ultimately accountable, for everything the company does, and everything that goes on within it. You have to be on the ball every day: you are the person everyone expects to always make the right call and have all the answers, and you need to be that person without showing any faults. Also, you can't talk to anyone freely, vent, or really form any kind of relationship with them, because ultimately everyone works for you. No pressure, right? (And because I'm sure it'll come up if someone comments: in terms of total compensation, I make a little more than half what one of the people who works for me currently makes, and they are not in a C-suite, VP, or senior leadership role.)

[@socraticwarrior3046]

Thank you

[@Epilon]

Part of me believes that there needs to be some sort of cap on the size of a company. Smaller companies can have leadership that is much more responsive to all layers of business, and can have a CEO that understands the entire business. Extremely large ones seem to always have an upper management that seem to live in their own worlds, isolated from large parts of their business. It feels like the CEOs of larger companies don't do as much as smaller ones, and the success and failure of them seem like more luck and inertia from initial growth.

[@ronblack7870]

you only hear of a few ceo's who are famous . you got elon and zuckerberg and trump and the google guy and apple guy . beyond that i don't know. i would bet most ceo's don't make the huge salaries and do a good job running their companies otherwise they get fired . there are thousands of public companies with ceo's not to mention private ones as well.

[@zaco-km3su]

CEOs of large companies don't work as much. You can bet on that.

[@epbrown01]

@@zaco-km3su The video says they average over 60 hours per week. In my experience, that's pretty accurate for a large company. I worked closely with one early in my career in an administrative role, that corner office saw nothing but 12-hour days.

[@georgerogers1166]

That's why we need to stop state intervention.

[@fanban2926]

Lol what

[@muhammetk352]

If I ever was CEO I would just watch clever analysis videos on youtube like How Money Works and lead the company in the recommended direction. I am doing that basically now (except for the leading a company part) so basically I'm a CEO already, where are my millions?

[@KingAntDaProphet]

If you get millions would you divide it up amongst your employees evenly

[@cldude691]

Fundamentally they try to increase shareholder value - the issue is that doing that is often counter to the interests of the workers so it results in conflict, especially when employees aren't getting stock options.

[@mrblack888]

It's often counter to the interests of their customers, too. Cuts in quality control, standards, staff training... all these things reduce operating costs at the expense of product reliability.

[@Unknown-pt7xe]

Yeah but this isn’t true…CEOs just outsource it all to directors. Finance? CFO responsibility. Operations? COO responsibility. Etc etc until all they do is act as the chief salesman of the business, selling their business exclusively to the media, analysts and shareholders.

[@Trizzer89]

If CEOs were smart, they would *sometimes* do the work along with the employees so they understand what is going on

[@unocualqu1era]

I think that's a problem with laziness and sometimes also malice, not intelligence. They know full well that they don't know what's going on, but they're not the ones getting fired and they can usually just jump ship with a great paycheck if they see signs of the company failing.

[@JARV9701]

Otherwise you end up with a crazy boss who keeps asking for impossibles and a lot of wasted time trying to teach them the basics.

[@jacobsage1711]

Not always. If the CEO isn't good at the day-to-day tasks that their employees do, they can end up getting in the way of the employees that specialize in their niche

[@Christinarina.]

It’s crazy bc this is management 101 to learn what every employee deals with by shadowing them on a regular day of theirs. CEOs are so far removed from everyday life they don’t even consider doing this.

[@Mike37551]

@@unocualqu1era Golden parachutes are a massive cause of perverse incentives. If you want to make sure a ship is well-run, give the crew life preservers and put the captain in a pair of cement shoes.

[@amdl270]

But CEOs aren’t always in the office. They are out of office “at events” a lot which staff don’t know about. And when they are at the office and not walking around they are in their private office where they could take a nap on the sofa if they wanted.

[@journeytothevoid2899]

This goes to show the skills of judgement and discernment are more essential than actual technical expertise once you get to a certain level.

[@lexa_power]

That’s why it’s so true that you do less actual work the higher up you move on the ladder. Personally I’ve always found it easier to work with my brain so I wish it wasn’t so difficult to move into these roles because i think I’d really thrive as a decision maker but struggle as a worker bee.

[@eldorado3523]

@@lexa_power unfortunately without technical expertise as a CEO you end up being so detached from what your company does that your decisions will be terribly ill-informed even with other people telling you what to do. This is how even large companies eventually die after their original founder leaves. The best CEO's are the ones that ran through all the ranks of a company, especially the lower level work. You can have a team of experts giving you advice, but if you don't know what they're talking about or how that translates into company functions, it's as good as nothing.

[@sybrandwoudstra9236]

Being a good listening ear and an understanding mind seem to be very usefull. Accepting new information is also one which some really great managers and project leaders seem to have.

[@brothercannon]

Recently at my job the CEO devloped a plan to grow the company which included hiring more staff. Employees voiced concerns that the sales goals are un-realistic and that fell on def ears. When the target sales were not hit new staff and old were laid off. Remaining staff had to ask about raises, bonuses and profit sharing before they would confirm we are getting none of those. Now the CEO is trying to figure out why the morale is at an all time low. TLDR; CEO's aggressive plan failed and employees were punished.

[@iluvpandas2755]

and they did not improve the stocks

[@brothercannon]

@@iluvpandas2755 The company is owned by a private equity firm.

[@zaco-km3su]

CEOs go to office whenever they want, talk to a few people, make a decision or not make a decision waiting for more details the next day.....for big companies anyway. Their salaries are meant to try to make people want to become CEOs and get more money. What a CEO claims to work and what they actually work are 2 different things. They can say they are off on a business meeting and they're just watching movies. The "time spent on people and relationships, organisation and culture and strategy" can easily be just going to a movie or a party or just reading a book.

[@sarasotauptoseattle]

I love that I can binge watch this channel and be entertained the entire time. Well done. Keep it up.

[@Vanquish831]

I've always seen business as a ship. A CEO, the captain, plots the course forward from his cabin, while his team implements it and actually runs the ship. During critical times (navigating reefs, for example) the captain might take the wheel themselves. Otherwise, they are in charge of making critical decisions, and the lives of their crew ultimately depend on them.

[@elevatedmeance6807]

yeah but a captain goes down with his ship the CEOs get a gold lifeboat while the crew is forced to swim commies may have been wrong about their system, but their critiques on these moronic CEOs are spot on

[@tachobrenner]

They do stuff the general public can't even begin to understand. They sit and stand all day.

[@economiccrisis9267]

Those aren't easy skills to master

[@alliu6562]

It’s surely very very difficult to do in today’s fast paced society! Better start saving up that Starbucks coffee money

[@GeneticReconstruction]

@@alliu6562 dont forgot the avocado toast!

[@dewaard3301]

It's not just about making decisions. Most of us feel like we could do that. You need to be a leader people can and will rally behind. You need to be first and last on everything you're involved with. You need to exude authority, either naturally or because you have the information and are capable of getting that information across. You need to have a sixth sense about people cutting corners, when they're corporate bullshitting you, when they're not ready, etc.. And that's just a start.

[@zan1971]

But my question is, how can you discuss strategy everyday? Like sure you do it one day, two days, one week but after sometime you're done right? Your entire top management now knows what to do and how to do it. Then what?

[@kozo1325]

Golf and f girls I guess.

[@RedLoopster]

Depends on the company. In some places it could take forever to do the cycle of "strategise-deploy-monitor-analyse-adapt-strstegise". Some CEOs involve more in projects and support leads when they're available. But basically there's always tons of work, so depending on how quickly new stuff is piling on

[@Gabriel-pk8lw]

Very big companies have tens or hundreds of thousands of people, dozens if not hundreds of departments.

[@curtisw0234]

The job of a CEO is to look like they are working hard when generally they are useless

[@robbenvanpersie1562]

And earn a lot

[@earlgrey6589]

The Outsiders by W. Thorndike is a good book that is counter to most of the points in the video explaining how the CEOs that have delivered the most return to investors avoided doing the things numbered in the second half of this video

[@wintermint77]

11:45 Speaking as a Software Engineer, I’ve had multiple managers do the whole “lead by example” thing and mention that working later would be beneficial to my career to try and get me to work later. While I appreciate that they are putting their money where their mouth is, they can shove it. I agreed to sell my labor to my employer for 40 hours a week in compensation for a wage that I know is nowhere close to the full value of my labor (boss makes a dollar, I make a dime and all that). If I was working at a worker cooperative where I would actually get to share in the profits, I’d be more inclined. Outside of a worker cooperative though, why would I sacrifice valuable time doing things I actually enjoy with loved ones just so that I can further enrich a billionaire CEO and the billionaire Board of Directors? They can go fuck themselves with their multiple million dollar vacation homes and megayachts.

[@TheGreatWasian_]

Yeah fuck those people, worker wages should definitely be a lot higher.

[@ZealotOfSteal]

That's why companies can have stock options, performance based bonuses, project completion bonuses, etc. as incentives for employees.

[@BTrain-is8ch]

You're a software developer. One of the few job roles where you legitimately have easy access to all the capital you need to be independent right from the comfort of your own home. Were you truly getting nowhere near your value it'd be incredibly irrational on your part to accept that arrangement wouldn't it? I've worked for other people and independently and it could be the fact that the independent side where you're allowed access to the "full value of your labor" comes with costs we don't like to think about like having to do the sales and marketing and support and security and HR work that you probably don't have to do today. And the taxes... I do not miss the taxes. Or the risk of being sued. Or the AR work. For some weird reason accessing "the full value of your labor" means spending more time doing more work. Odd how that works. Almost as though the labor you currently sell isn't nearly as valuable as you think.

[@TheGreatWasian_]

@@BTrain-is8ch kinda true. I’m not sure what kind of software developer this guy is but if he works in corporate tho, most likely he makes applications that is specifically used for solving business problems, organizing processes, or automating workflows. If he is doing this type of work, then the closest thing that he could do to being an independent developer would be doing freelance work. I think you might not necessarily understand IT work or development that much because starting companies/novelty applications from scratch is most likely a minority part of tech.

[@BTrain-is8ch]

@@TheGreatWasian_ I've spent almost two decades working as a software developer and software architect in large enterprise environments and at ISVs that serve mid to large enterprise customers... The option is starting a small business that sells software consulting services. I am not suggesting that a dev run off and build the next unicorn whatever. I'm suggesting that the are millions of companies collectively with tens of millions of dollars that want their own little stupid enterprisey CRUD web-application that works with their "special" workflow that's twisted just enough that they can't buy something COTS. I know it because I've done it and have colleagues that have as well. The companies simultaneously do not want to employ expensive IT personnel. Those are the companies small, independent developers sell to so they can gain the full value of their labor which frequently turns out to be less than they thought because as it turns out a lot of people's labor goes into a unit of output and a dev's role is actually pretty limited when you're talking about the full product lifecycle. All that to say devs have options when it comes to being able to claim their "full value" and when they don't take advantage of them it's probably not a coincidence.

[@MrHav1k]

Setting the tone for the culture and networking are key.

[@Not.Jason.from.the.southwest]

Im pretty sure CEOs don't do much that cant be outsourced to a monkey. With more research I am convinced that we will find out that the outcomes are completely random and the results of survivorship bias.

[@s.v.discussion8665]

Good point.

[@zachhawkins5005]

What pisses me off is when the CEO gets millions in bonuses, but we ask for a dollar an hour raise and "its not in the budget"

[@Michaelengelmann]

But these CEO’s lives are all hell of a lot easier. They have so many assistants or one that does a lot. If they can’t figure out how to do this, let the assistant try or someone below them.

[@karlhernandez617]

Such good information. Thank you

[@SatoshiAR]

I work at a company where the CEO's total compensation (wages & bonuses) is capped to ~$500,000/yr due to government regulations. Ideally it sounds like a good idea on paper, but from what I've heard from more senior colleagues it introduces some unique problems. Bizarrely, the rest of the C-suite's compensation isn't capped, so you have a bunch of people who are traditionally subordinate to the CEO (including some VPs and even a handful of employees) making way more money than them.

[@unconsistentone5385]

I still don't get it, so they get paid a lot while doing nothing? While the worker get paid nothing while doing a lot, why is that?

[@GeneticReconstruction]

Because capitalism In a nutshell, they get paid to make high quality decisions that boost shareholder value (make them a shit ton of money) they don't have to put in physical labor, we do.

[@youtubeuser1052]

It's not how hard your work is, it's how valuable your work is to the people who own the company. If you don't own the company, or if you own a minuscule fraction of the company (e.g. a few hundred dollars worth of shares in a multibillion dollar company) then your opinion doesn't really count for anything. The people who own millions or billions of dollars worth of shares in multibillion dollar companies are the ones who decide whether the CEO is pissing away their investment or making them more.

[@krox477]

THANKS so much for making these videos. I always had such question though I'm not CEO of any company

[@philgorman189]

San Andreas pause screen sound effects 💯

[@jgray2718]

Soooooo...meetings? Literally just meetings? With the occasional declaration of the company's "direction"? This is exactly what I already thought CEOs did - not much. "Talk to people then decide what the company should do" where the "talk to people" part is optional. Also: it is absolutely not the case that "only the CEO" can be the public face of a company. You don't have to give interviews if you don't want to. Hire a spokesperson.

[@misterj3133]

The board can do more than hire ceo and decide compensation. Also, most CEOs can't unilaterally decide M&A deals...those typically have to have board approval

[@muskreality]

CEO's nowadays spend most of their time creating pie charts on spreadsheets 😂

[@Anonymous-ow6jz]

*delegating others to create pie charts on spreadsheets and checking in on their progress

[@HunkyMan777]

It is a tough job. Strategy, planning, meetings, reporting, talent management, conflict resolution, sales, marketing etc.

[@derekwong3730]

There has to be a Good Work collab now

[@blanktitle198]

Love the Just Dance golden move sound effect at the beginning.

[@pine207]

Give ceo's minimum wage so the effort is properly compenstated with the pay

[@WanderingExistence]

Wage labor for a CEO/ boss is renting yourself via "self ownership". Employment is literally renting another human being as if they're property. The employer-employee relationship is a very insidious dynamic. Employment is a rental contract, like if you rented capital (say, a chainsaw from Home Depot), you pay rent for the "time preference" (basically the cost of time) for a piece of property. Capitalism is based on a principle of self ownership, which sounds empowering, until you realize that most people don't own capital goods other than themselves, and must rent out the authority over themselves as pieces of "human capital". This is a process of dehumanization where human beings are valued for their return on investment as capital goods. This is why, at the very least, capitalism needs unions and safety nets (or abolishment), or else the system won't value people for their human value. Importantly we must also think about our sick, elderly, and disabled people, as they can't provide competitive economic return for the investor class to value. We must figure out a way to change this economic system if we wish to value each other.

[@me-myself-i787]

Elderly and sick people can use all the money they saved up whilst working. Disabled people can rely on friends and family or charity.

[@DipayanPyne94]

​@@me-myself-i787 That is not going to be possible in the future if neoliberalism continues. Private healthcare is extremely expensive, in countries like USA. Elderly people will not have the money they need for healthcare anymore, unless we do something about it.

[@WanderingExistence]

@@me-myself-i787 Except because of the capitalistic economy many elderly people have to return to work because they can't afford their rising rents on a fixed income. Not everybody gets sick or becomes disabled after they've had the luxury of saving up. Let's just address this for what it really is, You're happy to have people have a quarter trillion dollars... But you don't want there to be an institutional mechanism to help take care of sick people that can afford care? Inability to pay medical expenses is the largest reason for bankruptcy at over half a million people annually, and 40-50,000 people die in this country every year because they totally can't afford their treatment. But you think Zuck or Musk or Besos need another billion.

[@1wun1]

​@@me-myself-i787imagine a very cheap lifestyle at 12K/year. How many people can save that times 10?

[@stevechance150]

​@@me-myself-i787And me-myself-i said, "If there are sick and disabled who can't pay their bills, let them go to debtors prison. If they would rather die, they had better do it and decrease the surplus population".

[@BewareTheLilyOfTheValley]

That beginning with showing Tim Cook and then answering the video's question witj "Whatever they want" made me think of the Key and Peele sketch where Key is Tim Cook revealing some new product of Apple's and pretty much proceeds to display his drunkeness on power 😂

[@CaseyBurnsInvesting]

23 hours of mindfulness meditation 1 hour of sleep. Sleep is for the poor

[@tompuijpeNL]

3:29 How very American. CEO can do only this... While the CEO likely has the biggest influence on the topics you mention key stakeholders can wield considerable influence as well as being able to block certain directions.

[@socalrefrigeration548]

Having go through several stages of employment I can tell you that unless you've been a captain or have been near one you have no idea what it's like. When youre the captain every second of your life is on the job. Entire communties depend on youre choices. Sometimes that means hurting a few families to save the rest and it's all on you. That's why most major investors don't invest in the company. They invest in the leadership.

[@zaco-km3su]

For big companies....the CEOs barely do anything. The job is done by the lower ranking executives. They make the big decisions and keep an eye on the company.

[@loc4725]

​@@zaco-km3suI concur with this argument. Many years ago a not long promoted CEO was asked what it was like running the business, given how complex the products and indeed the business was. His reply, which has stayed with me was along the lines of "It's just another management job; the day to day decisions and operational exercises are done by other people". There's a YT video about a British company called Iceland. In a section the founder & CEO talked about hiring his replacement, a guy with apparent retail experience and a 'track record ' of success. Eventually the new CEO was fired for gross underperformance and the old CEO came back. He described what the company looked like on his return and it gave an interesting insight into what CEO's _should_ be doing and what many actually are. It seems some of them are little more than placeholders, and without a competent team to do the actual work they're completely stranded.

[@socalrefrigeration548]

@@zaco-km3su Having been part of several large companies I can agree there is a lot of deligating. But the goals, big decisions, and orders to those managers come from the CEO. Most lower-ranking executives won't wipe their ass without upper leaderships approval. It's a different beast when you have to make all the big calls while keeping the confidence of your people. Imagine knowing one bad choice could resullt in the whole company mutinying and you have 1000 choices every day. Worse, that one bad call kills the company.

[@troywalkertheprogressivean8433]

Ceo's can be replaced with HFT's

[@youtubeuser1052]

@@zaco-km3su You've got a funny definition of "barely do anything". Putting the right executive team in place and dealing with the disagreements between them and replacing the ones who aren't delivering results is the difference between success and failure in a large company. Pretty much nothing anybody else in the company does matters if the CEO's direct reports are incompetent, or worse directly and indirectly sabotaging each other, and the CEO isn't capable of firing/hiring and otherwise bringing them into line.

[@AnonymousAccount514]

They make the decisions that ultimately lead to whether or not the company makes money. They are paid well because it is decided that their decision making is the reason the company is successful, so they get the fruits of the companies labor

[@Ohwhin]

This video explains one of the key issues with corporations, they're essentially a monarchy. In theory, they could be run as more of an oligarchy with the board made up of the most successful of each department with each having an equal vote in company business, but in practice that almost never happens.

[@iluvpandas2755]

Since the board is chosen by the stock owners. That never happens. But the stock owners force the CEO to not drive a good company into the ground, so that is good.

[@arturoBbrito]

You’re forgetting Fred Smith from FEDEX. He’s both. Chairmanship and CEO.

[@pb_and_nutella]

People are really doing their utmost to save Twitter, even if it means giving Elon Musk free lessons on how to do his job

[@midvvolf]

That Zuckerberg fact at the beginning is interesting, I didn't know his position was that secure

[@baconbliss4796]

So to be you only have to be a good role model and handle basic administration and learn who to outsource the actual work and have them report it to you in a meating which is easier than most job in the the market

[@jjrabbit2023]

1:55 I definitely prefer this channel over Good Work but I can appreciate the hustle

[@jbomb1234]

If you made this video a year ago I would have to point out 1 more CEO of a major company who can't be fired and even now is darn near impossible to get rid of. The CEO of the WWE Vince McMahon.

[@RunningOnAutopilot]

Are their any examples of hiring someone to face for the company in place of the CEO

[@FatHeadDave]

I love the animations/clips you use! Always make me chuckle

[@mathijsfrank9268]

This video is about public companies that rely on the stock market investors. What abour CEOs of private companies?

[@gyganmag]

That shoutout to Good Work 😂😂😂

[@redgun421]

the good work call out was hilarious! love both channels a ton

[@lilnewport4370]

CEOs pretty much get paid to be the face of the company and do nothing

[@stanislav_5312]

Thise GTA menu sound effects are really nice touch)

[@BabyBearRudy]

LMFAO you actually shouted out Good Work, that’s awesome 😂

[@jacoposcarabello]

How a CEO spend their day? Attending meetings! Idk if what you described is how it works in big American Tech companies, but in a normal business the CEO has the responsibility to sign document and lead the board of executives, but there are people below them coming up with ideas and even taking decisions on products and company strategies. On the video you’re making it sound as if the CEO is the one taking all the decision but in reality there are hundreds of people taking decision in a company which could be impacting the business and their products/service, locally, nationally, regionally. The VPs take care of their own departments, the board of execs discuss on how to address business issues, strategy and new ideas, the CEO coordinates all of these and is one of the ultimate responsible for the company actions (also in front of the law). Idk if just Europe is different or you focused on famous companies with “special” CEOs, but what you described doesn’t sound what I experienced as an internal auditor, in my experience the CFO has a lot of power and influence in many instances.

[@youtubeuser1052]

I've never heard the term "board of executives" so I'm wondering if you're confusing the board of directors with the C-level managers. The video missed one critical CEO function, hiring and/or promoting people into key management positions such as VP, SVP, AVP and recommending people to the board for C-level positions. The CEO leads the executives but not the board. Often the same person is CEO and chairman of the board, but those are two separate jobs and can be two different people. If VPs or other execs make bad decisions repeatedly then the blame is on the CEO for either hiring incompetent people or failing to replace incompetents who were hired by a previous CEO. Selecting the correct executive leadership team makes or breaks a CEO's success.

[@jacoposcarabello]

@@youtubeuser1052 yea you’re right I got lost in translation, and yes I was referring to the board of directors at the C-level management! 😊

[@youtubeuser1052]

@@jacoposcarabello Are you clear that the board and the C-levels are two completely different groups? The C-levels are employees selected by the CEO and/or the board. The board are not employees, they are elected representatives of the shareholders who own the company. As mentioned in the video, this can get fuzzy if the CEO is also the majority shareholder and also the chairman of the board, but those are completely separate positions that may, in some companies, happen to be held by the same human being. The most important job of a CEO is putting the right people in the top two or three levels of the management pyramid below the CEO. With the right people below him/her the CEO's job can be a breeze and a vacation, with the wrong people below him/her it can be a nightmare.

[@jacoposcarabello]

@@youtubeuser1052 yea you are completely right, I’ve kept using the terms incorrectly

[@RTDoh5]

I still cannot figure out why our society makes them into celebrities..

[@rickhaydan3433]

The best way for a CEO to cut costs is for the CEO to cut his or her salary or bonuses. Most CEOs suck at their jobs, creating centralized plans that send their companies down the toilet. People don't notice their screwups as long as creative accounting allows the company to pay stockholders.

[@leventejuhasz3492]

The more I watch this channel the more I am convinced to continue my plans to build up my own businesses besides my mid-level management engineering job (R&D leader). Although I work at a mid-size company, I find corporate culture insanely fake and toxic and would much rather have my own small, even unknown business(es) with a lot more work and be more or less independent than have a C-suite job at any large corporation and pretend that I care when I really couldn't less. I guess it all comes down to personal character and whether one is more like a self-reliant, do-it-all type or very good at blending in and adjusting to any corporate policy and rule that comes. Cheers from Switzerland

[@alexj-t2331]

This is a pretty long video just to say one word. Ketamine

[@DocPlaysBad]

About a minute in and I'm hoping for a Silcon Valley (TV show) Shot included

[@HunkyMan777]

As a a CEO, meet the workers. Do not trust your direct reports. They filter the truth

[@kermitthemutantlevitatingf7836]

And if you're a railroad ceo you can ignore the unions' requests for reasonable benefits because they can't strike

[@timgeoghegan7458]

Always of interest to see who is used as examples in the edit.

[@Avsfan23]

I work a corporate job, and it is WAAAAYYY more relaxed than a retail job. Its so much better.

[@EverettBurger]

I assumed CEOs spend their days being interviewed by their college newspaper

[@thebandwagoneffect]

Love the Good Work shout out 🔥🔥🔥

[@remcovanhartevelt588]

12:29 look at this graph 📊 Yellow on lemon on sunflowerseed oil yellow on urine yellow. Let me helpfully organize them from bigger to small, with strategy on top

[@winninglifeyo]

CEO is there to execute the desires of the bored, be the face of company, and the public punching bag if need be. The board, the large institutional investors; I.E. the Buffets, Blackrock, Vanguard call all the shots but hide behind the veil like any sensible oligarch would. Retail investors don’t matter one lick - they just want u to have stake in the game so u ignore the solidarity of class consciousness & simp for ever increasing unfettered capitalism continuing the class warfare against a now docile working class.

[@pertnerk]

The Good Work comment totally caught me off-guard and cracked me up

[@tccraig]

Finally, a job I'm qualified for. And with good benefits too. How do I apply?

[@SonnyBubba]

As a low level employee, I’ve come to the conclusion that the higher the rank of the person sending me an email, the less important the message is. Important messages come from the immediate supervisor. And if it came from the CEO, an important message would come through the chain of command and I would see “from: immediate manager.” If the CEO sent it direct, it was usually a pep rally.

[@kamarae.2444]

LOVE the Good work plug 🤣

[@lukehanson5320]

5:44 Plain Bagel for the win.

[@jonathanjoestar176]

it just sounds to me like.. the highest level of "manager"