Jeff Bezos makes slightly more than $13 an hour. Photo: Pawan Sharma/AFP via Getty Images The COVID pandemic has helped compound many economic trends that were already in evidence. One of them is the huge gulf between the pay of CEOs and average workers. On the latest Pivot podcast, Kara Swisher and Scott Galloway talk about how and why top executives are still being rewarded handsomely even if they preside over middling results, and what can be done to give workers a fairer shake.
Pivot Twice weekly, Scott Galloway and Kara Swisher host Pivot, a New York Magazine podcast about business, technology, and politics. This is what we do on the boards of public corporations in the U.S.: Generally speaking, the CEO of any company is the most likable person you’re ever going to meet. That’s how you become a CEO. They’re really hardworking. They’re really smart. And guess what: They were chairman of the social committee or the rush chairman at their fraternity or sorority. They are really likable people.
Galloway: Well, but the thing is, a lot of CEOs will say, “All right, I’m going to become philanthropic,” but what do you end up with? You end up with basically people deciding that government and public policy is based on rich people’s priorities. And by the way, rich people have not had the same American experience as a lot of America, so they’re not the ones that should be deciding. But it’s just naïve to think that this will happen unless there’s government action.
GovHowardDean karaswisher profgalloway Historical trend for, what, forty years? How do you reverse that? Fat cats aren’t going to demand less, it would hurt their feelings.
karaswisher profgalloway All is good but why of all Jeff Bezos pics this made it to the irrelevant article
karaswisher profgalloway Richest man in the world chooses THAT?
karaswisher profgalloway Who said workers aren't getting fair shake?
karaswisher profgalloway You mean the people who determine the corporate pay structure are keeping all the money for themselves? Who would have guessed?
karaswisher profgalloway What can be done? Let's see: last time we looked there was something happening in France 1789, in Chicago 1886 and even Russia 1917 ... Maybe flying away in a rocket isn't such a farfetched idea for the CEOs
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