Are There Any Examples of Financial People Leading a Business Where it Turned Out Well?

#1

While reading through this Kotaku article by Jason Schreier about some of the immediate fallout from the Activision-Blizzard layoffs, This quote really struck me:

Said one former Blizzard employee to me last December: “There’s a real struggle now between developers and the business people… Strategic decisions are being driven by the finance group.”

My question I’d be interested to hear about: Has situations like the above ever turned out well? There are countless anecdotes about financial people screwing up a good business, but are there cases where it ended up saving the business or even making it better? Before I go around saying that sort of thing never turns out well, I want to be sure that I’m not in a filter bubble and just assuming that in all cases this end up in long-term ruin.

#2

Enron. A bunch of them went to prison so I guess that turned out better than usual.

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#3

Manoj Bhargava is the creator of the 5 hour energy drink, and pledged to give 99% of his wealth away to “philanthropic causes” in 2015.

https://www.inc.com/ilan-mochari/5-hour-energy-billions-in-change.html

It is, to be sure, fascinating that Bhargava amassed a $4 billion net worth mostly on the strength of the so-called energy shots. Likewise, it’s fascinating he’d still have $40 million left, after giving away 99 percent of his fortune.

Now, I can’t find any direct quote stating if he actually DID this, he also runs a philanthropic ‘invention house’ out of the 5-Hour Energy factories, so perhaps he funnels his money back into his own business by claiming he donated?

It isn’t very clear, but if the headlines are true then he sounds like a good dude. I’m always skeptical of Billionaires now. Even Gates, who is paraded as the ‘good billionaire’ is a union buster.

Donating to charity is always good, but I think most progressives are encouraging Billionaires to put their wealth to taxes. You can give your money to the American government. You don’t have a choice where it goes, like a 5 Billion infrastructure project that NEVER happened, but you can pay the government without being forced to.

#4

Philanthropy is basically just money laundering tbh.

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#5

There are, but generally not on any kind of huge scale. But there is a healthy market for accounting and business consultants who come in and tell a small business owner that they’re running their business badly, teach them how to do it, collect their fee, and leave.

#6

No.

Not trying to be funny. There has never been a situation in all of human history where someone aiming to amass mass wealth has turned out to be a win-win.

There is one billionaire who’s backing the 15 an hour wage increase but even then I’m sure you can dig up a super problematic stance in there.

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#7

Perceived legitimacy is the veil between accepted practices of capitalism and organized crime.

Business as constructed is criminal.

Thank you for coming to my TED talk.

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#9

None.

I’ve done a lot of CSR and sustainability courses through my degree and nada. Oh you say Patagonia pays its employees a living wage and phased out harmful waterproofing chemicals? Here’s [CW Animal Cruelty] a picture of them skinning animals alive for their pelts because they don’t make their suppliers use cattle guns. You can’t make a profit without exploiting someone or something. That’s what profit is, the fruit of exploitation.

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#10

I’ll just bookmark this thread, for it will surely contain a well reasoned accounting of the benefits and failings of financial institutions and the people working in this sector. Maybe we’ll find out how not everybody with an MBA is a bad person, won’t that be swell…?

#11

When you’re goal is ever increasing profits for the sake of ever increasing profits the quality of the product, working conditions, and culture are always going to decrease drastically. There’s a good reason to why people compare the focus on profits as an end to cancer.

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