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But they're controlled by shareholders and why do shareholders want individual nut jobs running a company when and AI can do it. Not saying we're any where close to AI that can do this. But the idea is neat. CEO of these publicly traded companies seems like the first job that should be axed.
Chances are the shareholders with enough power to sway things are... Other CEOs though
I would be all for new regulation that changed that. In order to go public you cannot have a majority shareholder. I won't pretend I know what I'm talking about. But my gut says if you're going public you wish your business to grow to a point that it'll have large impacts to a good chunk of people and so there should be more democratic decision making in places including adding people local to these businesses in as stake holders.
Like the decision should be that if you're soliciting more money to grow, you forfeit ownership because your business now becomes something new. It becomes a shared public interest. So you can't have an Elon or Steve Jobs. You have a board who answers to stake holders without a single one having some ultimate power. Then you must bring in a certain amount of employees into that process
there is no rationale to capitalism, it's more like a heist
It's one of the most rationale things there is
I assume rich people often keep enough shares to control who sits on the board, and thus who is the CEO. There's a lot of people sitting on multiple boards, folks know each other, blah blah blah.
Also many shareholders aren't really involved. I don't even know how it works if you own shares through Vanguard or something. I've never been asked to vote on company policy.
From what I've seen in start-up land, leadership is a lot of in-group bro times. It's all gut feel. Shouldn't expect rational, honest, decisions from them.
You should be getting letters or emails about upcoming shareholder meetings and proxy votes. If not, that's a problem.
Apparently Vanguard has a whole proxy voting system that I left on the defaults!