8:00 Then why don't the owners just fire them? You keep telling and retelling that story as if managers were some type of independent force, an opposition to the real owners, when in fact they work for them.
@@joaov.m.oliveira9903A bunch of shareholders dont have control, they just invest. He's saying that the economy works best when managers focus on maximizing profits for shareholders instead of pursuing political or personal goals.
They have term periods and stuff like politicians. They are not hired the way normal employees are. In a leadership position, hiring and firing prevents planning without interruption, so they are given free reign for a term.
Excellent! Skin in the Game
If the owner is Blackrock, then the owner DOES care about DEI.
But the owners of the money that is managed by Blackrock might not do so.
yes
Aren't managers put there by the owners?
8:00
Then why don't the owners just fire them? You keep telling and retelling that story as if managers were some type of independent force, an opposition to the real owners, when in fact they work for them.
@@joaov.m.oliveira9903A bunch of shareholders dont have control, they just invest. He's saying that the economy works best when managers focus on maximizing profits for shareholders instead of pursuing political or personal goals.
They have term periods and stuff like politicians. They are not hired the way normal employees are. In a leadership position, hiring and firing prevents planning without interruption, so they are given free reign for a term.
@@Castle3179 Exactly. So it's the owners' choice to do so. So, there's nothing to complain here, folks. Case closed.