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How Shareholders Are Destroying The Tech Industry
Jul 12, 2024
Ed Zitron discusses how shareholder supremacy is destroying the tech industry, leading to pursuit of unsustainable ideas like generative AI. Reflects on disconnected managers, layoffs, and CEOs prioritizing growth over product quality. Explores the negative impact on creative jobs and society as profit trumps values.
55:47
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Quick takeaways
- Shareholder supremacy in tech drives pursuit of unprofitable ideas like generative AI for eternal growth.
- Tech leaders prioritize revenue over innovation, deteriorating product quality and service.
Deep dives
Welch's Influence on Tech Industry Leaders
Tech industry leaders like Sundar Pichai and Mark Zuckerberg have been influenced by Jack Welch's management style, focusing on growth and shareholder value over product quality. This approach has led to prioritizing revenue over innovation, resulting in harmful practices and deteriorating services. Executives like Pichai have been handsomely compensated while overseeing layoffs and making products worse in pursuit of financial growth.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode