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this post was submitted on 13 Sep 2023
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There's this weird balance with businesses. While narcissists and sociopaths make the wealthiest business owners, many successful business owners are merely "unpleasant".
Look at Musk. If he were competent (and the Twitter thing wasn't originally just an attempt to manipulate stock prices), the whole "buy and gut" attitude can be quite effective at making money. Dump compliance folks. Dump critical personnel and let them "figure it the fuck out", etc. I've seen businesses run by sociopaths do things like that all the time.
And hell, let's look at Musk a bit more. Everyone talks about how much money Twitter is losing. Nobody is talking about how much money Musk is losing (or not losing). First, a full 1/3 of the purchase price are loans in Twitter's name (!!!). That puts Musk on the hook for only $30B directly... which he paid in equity of other companies (making the purchase tax-sheltered).
Burned utterly to the ground (the product and the staff), 2023 might be their first profitable year since 2019 (albeit as a MUCH smaller company), and I'm guessing Musk is collecting a fair chunk of change in salary and bonuses. Ironically, I'm guessing he's still going to amortize the "losses" as he builds his own ROI.
Yes, a better leader would have created a successful Twitter. And YES, Musk never really wanted to spend that much on it. But I firmly believe he's taking it to the bank anyway.
And as horrific as most CEO's are, a lot of them don't have this type of behavior in them. Which is the other side of the "reason business owners need good workers". Not every CEO is willing to embrace "profit-focused mass-layoffs"