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It’s meant to deify these CEOs. Gullible schmoes see this and think “well that makes sense, he spends every hour of his day working. That’s three times more than me! No wonder he makes a million times my salary! See, the only reason I’m not making billions is because I don’t have the divine skills and talent to work on my company all day.” (Or, “I choose to have a work-life balance cause I don’t mind making a little less money”)
These CEOs have PR teams dedicated to slipping out stories like these so it keeps the CEO looking like a king.
Also to convince gullible idiots to put in more hours and make more sacrifices because “that’s what it takes to make it to the top” not realizing that sacrificing your time and energy for a multi-billion dollar corporation won’t make you a billionaire. Rich people love the “hustle and grind” culture because it convinces people that if they just keep producing for the machine, the trickle down will finally come
Also, having no work-life balance is different if you own a significant fraction of the company vs. if you’re on salary.
Like, if Jensen Huang spends 12 hours over the weekend working on something for nVidia and increases the share price by 0.01% (with a $4.165 trillion market cap, this means it goes up $416 million), his personal net worth will go up by $14.7m. Not bad for a little weekend work.
Let’s assume that someone who is on salary is on something absurd like $1m per year and gets a 500% bonus for working overtime. Their 12 hours of weekend work is going to net them $28k. That’s certainly nice, but it’s about 1/500th of what Huang gets. And, your average engineer probably doesn’t get overtime at all, and if they did it would be closer to $3k not $30k.
If someone who owns a business wants to have a bad work-life balance, that’s one thing. But, it should never be expected of anybody who’s just on salary.
And if its voluntary I would more likely categorize it as a hobby rather than work. I think we need a better definition for “work”. Work, to me, is an obligation. People work in order to feed and house themselves. So let’s says someone has $10mil. That is more than enough to easily live off the interest. I would say anyone at that level of wealth never actually works because they have the option to stop at any time, which in my mind makes it a hobby.
Yes I understand that for some people out there, being a tech executive is their highest passion and true calling. But I hate it when those people turn around and expect everybody to act that way, and act like they’re just more virtuous for doing so. I have a very successful tech career but it’s a job, not my whole life. This society values money, so we keep asking rich people for life advice, as if they have tapped into something deeply human and universal. They haven’t.
Ugh. People wasting company time by thinking about their health and welfare and if they can afford their bills. When they should be thinking about the company. Won’t someone think of the profits. Theft. Theft all of it! Makes me so sick I have to take a mental health day away from checking my investments. /s /s /ssssssssss
One of the perks of my job is that we have 50 hours a year in addition to our holidays that we can cash in whenever we need them.
Everyone takes them, but my boss uses a handful each year, stays late every night, only uses half his holidays and loses the rest. I’ll never understand it.
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50 hours??
That ain’t even 10 days …
I currently have at least 20 days, sometimes even 32 depending on the job.
In addition to my 35 days holiday
I highly suspect he’s full of shit, too. Most likely, he counts all kinds of non-work activities as work, because he does them in an executive-ly capacity. And, in general, claiming you’re a hyper-optimised work machine is fashionable in Silicon Valley.
Thinking about work is not the same as working. Maybe he should invest some money into therapy for his work anxiety.
Maybe I can start building up savings if I work overtime by zoning out of movies and thinking about stocking the grocery store for half an hour…
Hell wait, if I just think about being Nvidia CEO, can I split Jensen’s salary?
He works so much, he doesn’t even have time to find a new jacket. What a cringe lord.
Honestly the CEO behavior sounds like a mental illness.
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Wat a sad life.
A mother who works two jobs and can’t sit through a movie without thinking about her kids is also sad, but at least she does it for something good
That sounds absolutely fucking miserable.
Only difference between this and a drug addict is the drug addict doesn’t generate value
Hey that copper pipe isn’t going to pawn itself
I question how much value this guy actually generates, too. Probably a normal amount for however many hours of work, but he and his immediate colleagues set the wages.
It is a lie that CEO’s publicize about themselves. He has two children. If he actually was working 7 days a week from the moment he woke up he would have never had a chance to get married and have children- which is the life his workers lead.
Musk used to brag about working 7 days a week one day, and the next day brag about how he never missed his children’s soccer games.
Here’s something for your toolbox: our society commits idolatry constantly.
I didn’t realise thinking about work was work.
It’s a sure sign that you have a shitty work life balance.
I was at some work dinner and talked to some guy i didn’t really know. He had a 2 year old child and said something like: “he knows that he and his wife work too much and they hardly see their child.” I gave him a look like: “that’s kinda sad.” But i think he misinterpreted it and said: “oh don’t worry, i’m not a guy who believes in WoRk LiFe BaLaNcE.” Like he was so close to say, i’m not woke or a fag, don’t worry.
Sounds like the kind of shit one might say in a place where you need the money to feed that child and jobs are fire-at-will. What a fucking nightmare!
he cant even sit through a movie without thinking about his $4.2 trillion tech giant
I’m so close to starting to feel sad for him
Dudes counting thinking about work as work… Which means so many 40 hour jobs should be paid for 80 hour weeks then.
These are people that count a three hour business lunch as ‘working’ though. Also, I don’t give a fuck about people choosing to work themselves to death. It’s the ones that don’t have a choice that I care about.
These are people that count a three hour business lunch as ‘working’
These people also get mad about people using their phone whilst at work. Define irony.
“I don’t give a fuck”. (“I don’t care it” OR “They can go to hell”) ???
I believe bosses really “extract value” of employees (aka, they steal us)
Both.
This guy?
That’s hilarious though ngl
But this man never needs to worry about anything anymore. I’d probably “work every day” knowing that I have the pleasure of stopping whenever I want, and having everything you could ever want right at your fingertips at any given moment.
Lol nvidia CEO couldn’t do my job for an hour.
I am absolutely confident that I could do his job for an hour.
The empty chair in his office does his job just as easily, too.
You can tell me all about the meetings and deals they have to worry about but ultimately, by the time a company gets that large, it could run itself without a c-suite for quite some time.
This must be the 10th time I comment this on Lemmy and you might already know this, but:
The reason a CEO gets paid what he gets paid is not because of the value he adds to the company (as you pointed out, anyone could do the job), but because when the company fucks up (whether due to his decisions, or those of the board, or just anything, really), he takes the fall so the company can keep on doing whatever shady shit they’re doing and the board can act like they had no idea what was going on.
I don’t think I’ve seen enough CEOs take responsibility.
It’s not that they take responsibility, but rather in extreme circumstances they take the plunge and resign, or they’re fired. So the company can say they’re turning a new leaf
Examples from a quick search:
Hank McKinnell, CEO of Pfizer, received a US$188 million severance package after his resignation, even after a 44% decline in the company’s stock value since he took over in 2001.
Jeff Smisek, the former CEO of United Airlines, received a separation payment of $4.875 million in cash along with additional equity awards and other benefits for a total of close to $37 million.
United was in the middle of a corruption scandal and of course he took the fall, but I’m 100% sure he wasn’t acting alone.
Shady companies are always gonna be shady. But they’ll oust a CEO every now and then to pretend like they’re gonna change.
Does it need that much pay for someone to take the fall?
I feel like, of that’s the primary or sole motivator to pay so much, you could get someone “to take the fall in such rare cases” for much less.
I’d certainly be willing to for 2 mil. I don’t need millions for years and then a multi-million severance package.
Thing is, you may have to go to jail, depending on what the company is caught doing. Your name will be all over the news too.
