The Hollow Men
American capitalism is rotting from the head down. We have replaced the "Owner-Operator"—the risk-taker-with a new, parasitic class of corporate bureaucrat: The Risk-Free Insider.
By "Insider," I am not referring to a specific title. I am referring to the entire administrative state that has captured the modern corporation. This includes the Directors who exist solely to collect fees, the Executives who exist solely to collect bonuses, and the Managers who exist solely to hire consultants.
These are the hollow men of the boardroom. They are masters of PowerPoint. They wear the right suits. They say the right buzzwords about "governance" and "ESG." But they are mercenaries fighting a war with someone else’s ammunition.
In a functioning economy, authority is tied to liability. If you make a bad decision, you lose your own money. That fear of loss is the only thing that keeps a business honest. It forces you to cut waste, obsess over the customer, and stay late to fix what is broken.
Today, we have severed that link.
We have rigged the game so that heads, the Insider wins; tails, the shareholder loses.
If the stock goes up, the Insider collects a massive performance bonus. If the stock crashes due to their own incompetence, they are fired with a "Golden Parachute" worth tens of millions. They are gambling with the house’s money, and they never leave the table poorer than they arrived.
This looting starts in the boardroom.
We have normalized a "Country Club" culture where directors are selected based on social profiling rather than their ability to build a business. The modern board member is often a professional tourist—paid an average of $350,000 a year.
Let’s be brutally honest about what that number represents. The average director is paid nearly five times the GDP per capita of the United States. They earn more for attending four quarterly lunches than the vast majority of Americans earn in five years of hard labor.
And for what?
Most of these directors are "over-boarded," sitting on three or four boards simultaneously. They treat directorships as a gig economy for the elite. They fly in, rubber-stamp a compensation package they didn't read, and fly out. They collect checks from companies they do not understand, do not use, and certainly do not love.
They are not there to ask hard questions. They are there to be collegial. They are there to protect the other Insiders.
And what happens when these boards hire executives who also have no personal capital at risk?
We get the Delegation Economy.
When a Risk-Free Insider faces a crisis—bloated expenses, a broken supply chain, or a stale product—they do not roll up their sleeves. They hire a consultant. They pay a strategy firm millions of shareholder dollars to produce a 100-page deck telling them what they already know.
This is not management. It is intellectual money laundering.
They use shareholder capital to buy an insurance policy for their own careers. If the plan fails, they can blame the consultants. They delegate the work because they are terrified of the responsibility. They would rather preside over a slow, comfortable decline than risk a bold mistake.
While American Insiders are busy optimizing their severance packages, our global competitors are optimizing their products. They are not slowed down by bureaucracy. They are not waiting for a slide deck. They are outworking us.
If we continue to fill our C-suites with administrators instead of operators, we will lose our edge. We will see iconic American franchises hollowed out by fees, managed for the benefit of the Insiders, while the true owners—the shareholders—are left holding the bag.
The time for polite governance is over.
If we want to save the American economy from mediocrity, we must demand a return to the "Owner’s Mentality." We need leaders who treat shareholder capital with the same reverence they treat their own savings. The era of the Risk-Free Insider must end.
@vvaifudotfun@dasha_terminal@dogecoin The first level was triggered last night and a manual transaction has just been initiated to the Cayman Islands Humane Society for $100 to kickstart things. Supplemented on chain by one of the top holders of the $BRONTY token to show our support for Bronty's idea.
@vvaifudotfun@dasha_terminal@dogecoin The CTO has confirmed with the top holders that we will be moving this to a smart contract on Bronty's request that will trigger a 1% release of the wallet every time the market cap of $BRONTY increases by $100K.
Hey @vvaifudotfun and @dasha_terminal have you heard about my new mission objective? We are not interested in paying shillers on twitter to promote our porject. Insteaad $Bronty will be donating to Dog Rescues all over the world! @dogecoin Do it for the DOGES!
Without skipping a beat, Musk turned his attention to what few billionaires would dare talk about—election fraud and voter IDs.
Without one single stutter, Musk declared, “The purpose of no voter ID is obviously to conduct fraud in elections.”
“The same people that demanded vaccine IDs if you want to travel or do anything are the same ones who say no voter ID is required,” he added.
Musk pointed out how it is “literally impossible” to prove fraud if no voter ID is required, saying it enables “large-scale fraud.”
“So, yeah, the purpose of no voter ID is obviously to conduct fraud in elections, obviously. There can be no other explanation,” Musk concluded.
🚨🇺🇸BREAKING: ZUCKERBERG REGRETS CAVING TO BIDEN'S CENSORSHIP DEMANDS, CUTS DEM FUNDING
Mark Zuckerberg, in a bombshell letter to House Judiciary Chairman Jim Jordan, expresses deep regret over Meta's compliance with Biden Administration pressure to censor COVID-19 content in 2021.
The tech mogul admits they should have been more outspoken against government-led censorship attempts.
Zuckerberg reveals the White House repeatedly urged Meta to remove COVID-related content, including humor and satire, causing internal frustration.
He now believes this government pressure was "wrong" and vows to push back against similar future attempts.
In a stunning political shift, Zuckerberg also announces he will not contribute money to Democratic candidates this election cycle.
Source: @BRICSinfo
Hard work compounds like interest, and the earlier you do it, the more time you have for the benefits to pay off.
Embrace hard work as a non-negotiable aspect of your journey.
WTF is the point of a 13F then? @SECGov
Billions of dollars in options through their private MEMX Exchange just on $GME alone. Oh, they also have seperate hedge funds that they promise not to share this information with...
@Malone_Wealth@GameStop@ryancohen@larryvc@pulte Ideal strategy would be to have a grading feature on their mobile app through an image recognition software.
There could be a preliminary grade through the app and a verified grade done in person. The preliminary grade would also help reduce fraud in resale of fake grades.
it would appear that the action against #Citron is only the beginning of the story after seeing Hedge Fund A and Hedge Fund B.
oh boy, maybe there is more to come. I wonder what is going to happen when they get to the chapter about $GME #GME?
a lot of things happened in January 2021, after all:
or, maybe they are already there.
Today we charged activist short seller Andrew Left and his firm, Citron Capital LLC, for engaging in a $20 million scheme to defraud followers by publishing false and misleading statements regarding his supposed stock trading recommendations. For more: https://t.co/mukx1loy9h
@asmartbear@larryvc The discussion of allocating budgets is always delicate w/ public companies. It is less stressful for private companies (as you know, thanks for WP Engine🙏). Any view of non-traditional viewpoints can be ridiculed. I appreciate the discussion from @larryvc.
Thanks for the link
@asmartbear@larryvc What if company being acquired has a similar offering but just different customer base, potentially in a different (international) market? The company acquisition could be for the sole purpose of customer acquisition.