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cover of episode How Shareholders Are Destroying The Tech Industry

How Shareholders Are Destroying The Tech Industry

2024/7/12
logo of podcast Better Offline

Better Offline

AI Chapters Transcript
Chapters
This chapter explores Jack Welch's impact on modern capitalism, focusing on his influence on the tech industry's current state. It highlights how a focus on shareholder value led to a rise of managers prioritizing short-term gains over long-term innovation and employee well-being. The example of OpenAI's CTO is used to illustrate this point.
  • Jack Welch's influence on modern capitalism and its negative consequences for the tech industry
  • Rise of managers prioritizing short-term gains over long-term innovation
  • OpenAI's CTO as an example of managerial disconnect from creation

Shownotes Transcript

The shareholder supremacy has eaten the tech industry, driving private and public companies to chase unprofitable, unsustainable ideas like generative AI as a means of expressing eternal growth to the markets. In this episode, Ed Zitron walks you through how this destructive mindset has created an entirely new kind of manager - one disconnected from labor and creation - and how the dark hand of shareholder supremacy is behind everything strange and bad in tech in the last few years

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