this post was submitted on 05 Jun 2024
749 points (99.6% liked)

The Onion

4493 readers
756 users here now

The Onion

A place to share and discuss stories from The Onion, Clickhole, and other satire.

Great Satire Writing:

founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[โ€“] TommySoda@lemmy.world 6 points 5 months ago (1 children)

I understand completely. My main concern however is not startup companies. I'm all for supporting smaller companies. It's more like huge corporations where the CEO takes the majority of the money and probably spends more time on vacation than actually doing anything. Even though I'm sure they do more than I am letting on, I don't think it justifies millions or even billions of dollars in pay and bonuses. If they started the company that's one thing. However most CEO's of large corporations are so far removed from the initial founding of the company they basically have less to do with what the company does than the average employee. The amount of money these companies could make if they actually put that money back into it is potentially higher than current profits. It's really a win-win situation for everyone except for the CEO instead of just a win for the CEO and nobody else.

The math for those large cooperations is a bit more complex than that. CEO compensation is often mostly stock options, which has a value for tax purposes, but is not a value that can be easily reinvested into the company. The actual cash salary portion of the compensation package is usually peanuts compared to company revenue.

They're basically trading the CEO partial ownership of the company in exchange for running it, and I'm not sure how you would go about forcing any kind of change on that, without unintentionally breaking things for smaller companies and startups.