Comments by "Maxwell Benz" (@Tential1) on "CNBC"
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Ceos don't give themselves raises. That's the problem. You literally don't understand how a corporation is structured. Shareholders give ceos raises. So yes, if we shareholders could find a ceo to run a corporation for less money we would. But ceos are hard to find, and they are normally already wealthy. So, we pay them to stick around. You act like we want to pay them money... Dude if you can find competent ceos for 5 million a year, I will personally ensure you get paid 25 million a year. This is literally no problem, I work with tons of funds with billions in assets, 25 million is pocket change, if you can save companies/shareholders from paying out large compensation packages, and you can find these star employees for 5 million a year, I will make sure you get that 25 million. Hell, can probably make it more. But until then, shareholders will pay the CEO, rather than let a company run directionless and tank our whole multi billion dollar investment. You get paid what you're worth dude. And I hate to break it to you, it's worth paying the CEO 20 million manage your 100 billion dollar investment. Get it through your head, the ceo pay has NOTHING to do with you average workers. It's because shareholders pay to protect their investment. When you invest your money in a company, you decider whether you want to gamble on a random new ceo, or pay the current one more money. For example, I've got a f ton in jp. Morgan. If Jamie Dimon wants another 2-3 million, I will vote to approve. Jamie has done 12.5% for my investment annually. His pay, has no reflection on whether I'll pay the bank teller more money. I pay him to manage a 500B business. I pay a bank teller to do something I can arguably automate. I can't automate a ceo.
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If a ceo was paid 0, the average company could raise employee pay by $100 per employee. Probably less. Ceo pay has nothing to do with average worker pay. Workers work for the company. The CEO works for the boss the shareholders. As a shareholder, I'm happy to sign off on a 50 million a year ceo, and I voted for it. I am happy to pay Jamie Dimon whatever he wants. Because that's my decision, and I want the comfort of Jamie Dimon NOT LEAVING. I don't care how much you make as a bank teller. You're replaceable. As a shareholder, I don't care you make 1/10,000 of what Jamie Dimon makes. Because I'm not firing you if things go wrong. I can only fire him. So when Jamie Dimon grows my wealth 13% a year, and he wants a little off the top? I don't care. Because if I pay him 0, it won't increase my 13% a year return by a meaningful amount, but if I lose Jamie Dimon, and I get an idiot, I could literally lose my whole investment. That's why we pay ceos.
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Basically you don't understand that a ceo doesn't own a company. They are a manager. That's what a ceo is. I mean, dude, how does a ceo get fired? You never thought of that? A ceos average tenure is 3 years. Because we shareholders HATE PAYING CEOS. dude, we're so insane, we literally have fired ceos who have done better performance than Warren buffet himself.(or maybe the cost to keep him around was getting ridiculous so, screw off, we don't care if you beat the market, Warren buffet, etc.) You literally just don't understand what you're talking about. Dude, mid level executives make a million a year now. I know multiple people making a million a year at Facebook, Google, etc. And they aren't even upper upper management that makes 3-5 million a year. How the hell do we pay the CEO less money? You don't get it... These people are valuable. And I try to fund other businesses. You can't get people to work the insane hours ceos do. I've worked with these people. They don't sleep. They work insane 14-18 hour days. You don't want to be them, or even work with the people at their level. That money isn't just free... I see the people who get it. The average person would rather see their kids or family. Executives at renn tech are guaranteed 50 million or more working there. However you also spend 2000 nights sleeping at the office.
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Don't worry, putin is going to fall soon. The embargo will work, cutting them off from swift will work, sending stinger will work, javelin, himars, artillery, patriot system, tanks, f16. Don't worry, it eventually will work. I mean, we couldn't beat Afghanistan or Vietnam, but I'm sure we can best Russia. 😂😂😂😂😂😂I
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Nope, this is just you not understanding how rich people invest and poor people, even if they have disposable income, don't. My "poor" neighbors have had more vacations, more nights out, more concerts, etc. But they don't invest. So now, even though I don't make insane income, I'd "net" more wealth generation every year, because I invest. Investments get better tax treatment, because surprise... We want people to invest. Poor people literally refuse to understand the monetary system. Even if you gave them a million dollars, they'd be poor again. Being rich in America is actually not hard... People refuse to learn how to play.
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@Zxxy there's tons more cost than that... Dude, the profit margin is 10% and Elon signed a compensation deal with shareholders. It's a one time payout. He asked shareholders for additional shares in the company if he hit certain metrics. If he grew the market cap, if he grew the revenues and if he grew EBITDA. He said, if I do this, you shareholders will make a huge return, so can I have some of YOUR shares as compensation. He wasn't paid in cash. WE GAVE OUR STUFF. And you're quoting the cash value as if he was paid in cash. He wasn't. This is just you guys not remotely understanding how stocks work. And the time he signed this deal, people were laughing at Tesla for "going bankrupt". So, he asked for shares of a dying company. Now, that he won, you guys are doing some hindsight insanity, and complaining about him saving the company, and getting paid for it. If you wanted to make those profits, you should have bought the shares like we did. We bought the shares and We decided to share our shares with Elon Musk. We signed that deal. It's wild.... You don't know how money/stocks work.... But they literally run the country.
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@naturegirl2110 OK, so if they squeeze companies for all they're worth and quit, how are companies profitable? How are they making record profits each year? These are literally opposing ideas. You're probably really good at nature. Don't get me wrong, put me in the wilderness with you, I'm dying. But when it comes to business, you clearly don't understand this. I get it, everyone says this idiocy, but maybe think about it for a second. If companies are being squeezed for all they're worth by the CEO, then why do rich people own 90% of the stock market, which is ownership of those companies? How can the CEO, rob people who own the company, who are also rich? Those many rich people would have one easy target to get rid of.... To be honest though, in my opinion, if people are just gonna blindly regurgitate things that have obvious logical fallacies, they deserve to lose the game of wealth.
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@dragoonzen the question posed was goals. Not asking how much 5 billion dollars is. Moving the goalpost to saying "wow, this company makes xyz billion dollars, that's a lot of money". Which, if we use that argument, where do we end. 1 million is too much even (but then, no one would invest, your 401k would have nothing to invest in since no one makes profits, and you'd have no way to save for retirement. Yay.) Speaking about the 5 billion dollars of profit, it doesn't just go to the company, it goes to shareholders who are numerous.... It goes to 401k holders. Etc. It's not some random number some person is stealing. It's going literally to the American people. I'm not sure you understand where profits go.... They either get paid to Americans as dividends which they see in their 401ks and other investment structures or, it's spent, as capital expenditure. It's not sitting in a vault, and if it is, it's still funding someone else's stuff(since unh sits on cash to pay insurance claims and because really, insurance companies are actually bond investment portfolios).
And considering the business I work in, I know intimately how much 5 billion dollars is....
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@jakeroper1096 the reason corporations are taxed is they use the infrastructure differently and that should be accounted for. This is theoretical of course. In practice, we do it because people don't think it's fair, but as you stated, it's a double tax. The company pays the tax, then, you make me pay a tax, again, to receive the money. Wtf.... It's why I like growth companies. Less chance of tax. If taxes were used in the academic way you stated, no problem, who cares, but it's in reality, a way for the masses to claw money they haven't earned. To the point where a person who doesn't work at all, while able to work, is now considered deserving of the same as a person who does work. A social safety net is needed, but this is far beyond that.
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Ceos are being fired for not hitting high rates. Not because they don't have some magical "sustainable growth". Really, this is why Americans deserve to be poor. You don't know anything about corporations, despite all the info being public. How do you play when you refuse to learn? The companies attracting the most attention have the most insane growth rates. "sustainable balancesheet" is buzz words. The same companies are getting the most attention, because they're dominant. Amazon(20-25% top line) , Microsoft(18%+ net income) , Apple(worst of the group, 9% net income), Tesla(30% top line), Nvidia(30% net income growth, this one is straight bonkers), Facebook(18% ish net income, same as Google) and Google. All of those growth rates are straight stupid. That's why we call them the magnificent 7. If any of these companies added more debt they would just get more investment because you don't understand the math of how any of this works. Investors want these companies to add more debt. You have no idea how much debt we use. We aren't afraid of debt. We love debt. Because we don't like dollars. You don't understand the game we're playing.
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@michaelhuang0417 Well, I follow the financial closely, and they COULD have gotten a pay raise, I actually don't care if they had. The problem was, that was on Past PROFITS. The future transition to EVs , now the money isn't there. This is why unions are stupid. If they weren't unionized, they could have asked for a pay rise right away. Instead, they want a pay rise, right as profits are about to turn down, as EVs aren't profitable for Big3 to produce, but the EU and America are mandating they do it. Ford breaks out their EV losses, and they are losing billions, and they don't even produce 100k evs a year yet lol. This payrise is Easy to do. Pay them in stock. The problem is, the workers don't want to be paid in stock, because they know full well they are destroying the value of the company, and the stock value won't go up, just like it hasn't for a long time now. Tesla does pay in stock, and people accept that, because Tesla stock goes up.
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If you feel that way, you feel like companies are being robbed, and that companies in America are currently victims, and not insanely profitable. This is what I hate so much about ignorant Americans. You can't even be consistent. You think the company is being plundered, and think the company is making record profits. Which is it? They're literally opposite opinions. Even more stupid, rich people own the stock of the company, so you're suggesting that CEOs are robbing rich people, and getting away with it. You literally don't understand the hierarchy of America. Ceos are not the rich... They work for the rich. Just because Elon Musk is a rich CEO doesn't mean that the average CEO is wealthy, relative to actual rich people(Jesus my numbers are distorted now). It's insane, the info is literally public, and Americans still don't know where rich people keep their money. I've seen people play games poorly, but this really is beyond mind boggling.
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@Equinoxx_aut Try and get people to buy/be paid in stock, and most people want cash. But then, they see a person do well on stocks, and cry that it's not fair. If you want to be rich like the rich people, maybe hold the source of their wealth? It's the most wild thing. Elon Musk, Jeff Bezos, Rob Arnault (Louis Vuitton Owner), Mark Zuckerburg, are the richest people on earth. And I assume, they want to stay rich. So maybe... Just maybe.... If I buy the thing they keep ALL OF THEIR MONEY IN , my wealth grows with them? It's the most basic way to play a game, mirroring, and yet, the average person can't even do that. We really are a stupid species .
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The other companies are new. This was done a long time ago. It's a past relic. It's arguably not helpful either. The workers could have asked for wage increases a long time ago if they didn't have to wait for contract renewals. They could have asked RIGHT when profits went up. However, they had to wait til this contract renewal, and now, they want pay rises, right when the profits are disappearing, as the companies are forced to make EVs, and they can't make them profitably. I mean, Ford earnings reports are hilarious. They always revise their forecasts for worse losses.
It's similar with Hollywood, although Hollywood signed the deal (But the deal let's them do fewer workers for shorter shows, and well, I don't know if these Hollywood writers pay attention to the freaking investor reports, but Netflix and us investors said we are ONLY paying 19B a year for TV shows/Movies. No more. So if they want 40% pay rises, no problem. We are gonna make less content. Like bruh, it's our company, we put our money up, if you want to run the company, you go buy the shares and pray you don't lose your money. Until then, we choose). But Hollywood was making record profits, now, they are literally losing money, and they signed this union deal. So sure, you can demand more pay and get the deal, but if we aren't making money lol, we're gonna make changes. Disney, Warner, Paramount, etc. no one is making money, it's kinda hilarious. Except Netflix. They finally became cash positive by a billion (Spend 19B on content, 3-5B on management/other costs, to barely make 1 billion dollars profit, you want to invest your money and risk it? Please, join us).
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@TENNSUMITSUMA no, it's kept in a national fund, held in American stocks. So it's something only a small nation can do. If America did similar the government would own the whole stock market, and we would have a central controlled economy. The wealth is just, there.... So, you could go your whole life and never spend the full benefit of your "portion" of that wealth. Also, you're dependent on america delivering good stock returns. So you have to keep america capitalistic. If America ever said "I don't care about economic growth" like some people are now, thats not good. I've got a lot to say on the matter, it's not bad, but it's not good. Keep in mind, I work in the financial industry, specifically with pensions, so, I don't want to advocate against my customer.... They pay us literally enough to make a few new billionaires, an insane number of new millionaires(I mean, I seen lower level entry people pull in a million in a good year) so, I really don't like advocating against pensions. Pensions are really really really good for my industry.... For people? Well... Like I said.... You may never even spend your "pension" benefit, so it's better it goes to you directly, and I personally, would never ever ever ever sign up for a pension system instead of contributing to my own personal. But.... I mean... I really really need you to believe in pensions... For my personal benefit...
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@BlairTravis it's not necessarily democrats or Republicans, but currently, wall st works more through the democratic party. They did it so slowly, you have democrats defending big pharma now. Wall st uses whatever is convenient and right now, the democratic party has so many methods, and they can still blame evil Republicans as the party of business. I mean, the democratic party was able to frame give aways to big businesses in the form of the inflation reduction act and chips act as good for normal Americans. I mean, I'd complain, but, it's funneling the money directly to all of my investments so, I feel like I'm playing the game right. And if this is the game, I'll play rather than complain.
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Then do it. Start a company. No one is stopping you from riding the corporate ladder either. Lots of people I know have made millions working at these companies at levels far below ceo. Lol. You do realize some companies pay engineers more than ceos? Some traders have made more than ceos? Ceo pay has to be reported. If Apple pays an engineer 30 million a year, that doesn't have to be reported. In fact, a lot of engineers make 7 figures, to do basically nothing. Just so they don't leave and start competing companies. Same with investment bankers, traders, hell, I seen people pull 9 figure paychecks lol. Hell, come to mention in, in my industry, in slightly adjacent fields, you can make a million dollar bonus, at entry level.
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@Mcfunface pp loans were your salary.... It was the government paying you through business, so as to not cause unemployment disruption. If we hadn't done the ppp program, no one would have been paid, and the whole country would have went into an insane recession. It's not the same thing. Not even remotely. Student loans were your choice. A government shutdown of all businesses isn't. Also, it's literally in the law, that the government must reimburse business. The ppp program was done to abide by that law. Without it, you would have had businesses sue, and create ppp anyway. There is zero reason why the government should pay your student loans. If that's the case, then why not pay my house off too? My car? I'll buy a Lamborghini then, student loan forgiveness makes no sense, it's just lazy kids who want free money, because they perceive someone else got it. It also just proves, the democratic party is about the middle/high income worker. Not the poorest people, who didn't even get a chance to go to college. That's what you'd think you people would be fighting for. Instead, you want a one time handout that won't affect any future generations. Just shows how selfish the people there have become. I was happy to pay for you before. Now, I see you want handouts for PhDs.... Lol... It's obvious how corrupted you've become.
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@TheChinaPlay bro, people are genuinely stupid, and keep trying it again and again. Top down control is idiotically hard, yet for some reason, everyone thinks they can do it better than the collective minds of a society. But, rather than try it in new York or California, no, they want to force the whole country to do it. Try it in your state first and if we all like it, we'll adopt it. Bail reform. Go ahead new York, try it. See how it works. If you get it right one day, we'll do it...
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If the people at the top of GM, Ford, and srelksnrie are vastly overpaid, start a business of providing CEOS to big companies. If you can save a company 20 million in ceo compensation, they'll pay you 5 million. The CEO is just a manager, just like at your local McDonald's. The manager doesn't own the McDonald's. The CEO doesn't own the company. Not sure why people don't understand that still. Ceos are hired by boards of directors, who are voted on by shareholders. But shareholders can directly fire ceos, just bring it up to a vote. Pretty easy and regularly happens. shareholders and boards agree to pay CEOs. CEOs dont pay themselves.
Put it this way, you have 50B invested in ONE company. You can't sell the investment, you HAVE to own it. So, to protect your 50B, you can hire a CEO for 10M, or a CEO for 20M. To protect 50B. 10M or 20M doesn't matter to you then, because they're managing your whole 50B investment. That's why CEOs get paid a lot. IT has NOTHING to do with how much average workers make. You keep trying to compare the two, but I, as a shareholder, don't care if a Lineworker quits tomorrow. Ok, whatever, hire someone new. If the CEO quits, I'm SCREWED. I could lose all of my money, they run the company. So you're thinking about this all wrong.
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You can create a chip in theory. The issue is, manufacturing it. Tsmc has deals with apple, amd, Intel, and Nvidia. They always get first dibs. So, you compete at a 30% deficit, as the latest manufacturing process adds a lot. Nvidia and apple go as far as buying excess capacity to ensure you can't use it. Then, the entry cost into designing is around 10B. Essentially, no one really can compete with Nvidia... Hence why they have led their industry for 20 years straight. It doesn't even matter if you do create a chip better than Nvidia. Their software stack is also what matters. Everyone uses Nvidia, so even if a competitor is better, your software won't work with it, you won't get support, etc. Trust me dude, I spent the 15 years trying to avoid Nvidia products. But when you actually have mission critical work, you go with Nvidia.
It's more stupid that you think competition will best Nvidia now, just because it fits your time narrative. Nvidia used to have tons of competitors. It has amd now. As the last man standing. There are a lot of bodies in Nvidias past. It's why I invested. I stopped fighting Nvidia, stopped trying to avoid the products, stopped begging for a competitor to dethrone them and their high prices. Instead, I bought the stock and the gains from the stock allow me to afford their very high prices.
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