> There are rarely if ever any serious consequences to top execs screwing up wealthy companies.
That is because any exec worth her salt would negotiate a generous golden parachute even before starting the job. And why is she able to do that? Because there are very few competent candidates available in the market. If you think the job is easy, just go and get one of those exec positions and you will learn.
Yes, but that is not possible to know a priori. So people rely on heuristics. And if things go wrong, execs want to make sure that they have a golden parachute.
Do you have an idea to judge exec competence effectively? If so, you can have a very successful company based on that.
That is because any exec worth her salt would negotiate a generous golden parachute even before starting the job. And why is she able to do that? Because there are very few competent candidates available in the market. If you think the job is easy, just go and get one of those exec positions and you will learn.