Tech CEOs screwed up, and it's time to hold them accountable
By Matt Weinberger
Author's Friend Ed Zitron argues in a column for Insider that workers are taking the fall and losing their livelihoods for what's ultimately those CEOs' fault:
“Any executive who participates in decision-making that leads to hundreds or thousands of people losing their jobs should be the one leading them out the door,”
he writes.
The one thing that everybody seems to agree on is that it'll get darker before the next dawn in Silicon Valley, so expect a lot more conversation over how and why we got here.
Is it time for CEOs to start losing their jobs?
Ed Zitron argues for Insider that the thousands of tech workers who lost their jobs in recent months are actually just taking the fall for the real problem in Silicon Valley — CEOs who aren't up to the task of leadership.
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As the sole person in charge, they're responsible for misjudging the macroeconomy, making terrible investments, and then following along with the industry in a shortsighted attempt to please Wall Street,” Ed writes.
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CEO pay has skyrocketed over the years, but accountability of these top execs hasn't kept pace, he writes. It means they share in the upsides of their companies' growth, but rarely face consequences when something goes wrong.
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He praised the CEOs of Apple and Intel for recently taking pay cuts as their companies hit tougher times. But says that there needs to be more serious consequences for chief executives who fumble tough situations, up to and including losing their jobs.