> "There is not a lot of history of laziness being rewarded with success. Hard work is an essential ingredient in any recipe for success. I embrace this, and the most successful people I know do as well."
I can't imagine a single worse strategy as a leader than to choose 'reduce pay' and 'imply laziness'. Did this guy get his management degree from the Roman empire? Just fire people and say you over-hired, holy cow.
I'm not part of the "talented executives shouldn't get paid a lot" crowd, but the important part is the talented bit.
A lot of inventions come about because of laziness. Some guy somewhere got tired of carrying his things around, so he invented the wheel. Of course, I don't know whether the inventor of the wheel was properly rewarded.
So, what you ultimately have to accept is some hybrid thought process and red/blue roleplay to find optimized workflow, process and the rest.
it's just not a useful dichotomy.
On the face of it the CEO and other executives are talented. The founders occupy the most senior positions. They have built a substantial business.
Maybe they were lucky or influential instead of talented. Perhaps things have just gone wrong and they are desperate and this is the best available option. Maybe success have made them lose touch with reality.
However it happened, we have gone from apparent talent to apparent stupidity.
Don't forget he also employed the 'fire senior team members, hollow out teams' strategy
That would be the "lazy" way out. It would also be simple, fast, honest, straightforward and show respect to everyone involved.
Maybe not if you're at the executive level, where what counts as work is much different than the rest of a company. But it's generally hard to fuse say, time spent fixing bugs at a desk alone, with the rest of life.
If there was ever a red flag...
I'd be running from that company like in a Hana Barbera cartoon.
Because then your vacation and fun time sucks.
So then you don't get a proper break and suck at work.
I wonder what executives should prepare for. Presumably continuing to contribute nothing of discernible value. Probably what comes when you treat humans like fungible work units to their face without even the pretense of viewing them as human.
I'd still trade places with the CEO any day, though, of course.
1: https://www1.salary.com/WAYFAIR-INC-Executive-Salaries.html
2: https://www.sec.gov/Archives/edgar/data/1616707/000104746915...
- you don't need a salary, and
- it's already in your best interest to make the company more valuable
People who are hired from outside need to be paid a base salary, but should expect to make most of their money from increasing the value of the company, hence the need for equity grants or equity option grants.
If I had more courage, I would have asked if the jet was available to anyone willing to pay for it.
Wasn't long before I saw an identical sofa to one I just saw elsewhere. Hey wait a minute! A reverse Google image search on most sofas showed up in multiple places with multiple brand names. And Wayfair was rarely the cheapest.
I have no idea if they offer anything useful, but in my short stint it seemed to be a marketplace for marked up white labeled...junk.
Wayfair was only profitable during the pandemic. Rank-and-file employees working more hours won’t fix the business model.
how dare those slaves ask for money for work. they should just be thrown enough food to reproduce and their offsprint to survive, so as soon they die, their kids can start working in their place.
the 19th. things have never been better for rat race slaves heh.
I can tell you that if I ran my mouth the same way he did, I would be worried about someone throwing a fist.