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The Shareholder Supremacy
Jul 10, 2024
Ed Zitron discusses the impacts of Shareholder Supremacy on capitalism and tech companies. Topics include the history of growth-at-all-costs economy, Jack Welch's influence on capitalism, toxic management practices, layoffs, and prioritizing shareholders over innovation.
34:05
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Quick takeaways
- Shareholder supremacy shifted focus from sustainable businesses to pleasing shareholders, affecting management priorities.
- Welch's tactics, including layoffs and stock buybacks, set a precedent for modern management approaches.
Deep dives
Jack Welch's Legacy and Shareholder Supremacy
Jack Welch's philosophy emphasizes shareholder value over customer satisfaction, leading to a short-term mindset in companies. Shareholder supremacy shifted focus from sustainable businesses to pleasing shareholders, affecting management priorities. Welch's historical influence on capitalism and corporations shaped a growth-at-all-cost mindset, focusing on stock valuation and profit growth.
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