this post was submitted on 18 Nov 2023
241 points (96.9% liked)
Technology
59607 readers
3435 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Apple is now the most valuable company on earth, so I think you're not making the point you think you're making. Publicly traded companies act only based on what increases the value of their shares the most. If the current CEO isn't seen as the most profitable CEO for the shareholders, they will eventually be replaced, even if they founded the company. That is a risk you knowingly take when taking your company public. Most founders choose the money that comes with an IPO, knowing they'll eventually get the boot.
Steve Jobs is the exception. I'm just trying to answer the original question about why this happens so often. I'm not trying to argue about the best way to run a company. But if you're equating every founder with Steve Jobs then we're having a completely different conversation.
It unfortunately often does. It’s hard for the original founders to “let go” and some of the things that were idiosyncrasies at the scale of 10 are actively detrimental to people’s careers and the business’ wider growth when you’re 1000. Experienced founders often recognise when it’s time to hire the “VP Eng” that’ll replace them, but if it’s their first big go at it, they often cling on a bit longer that they should.