Good CEOs Should NOT be Visionaries.Thank you Helix for sponsoring! Visit https://helixsleep.com/howmoneyworks to get up to $200 off your Helix mattress, plus two free pillows #helixsleep Sign up for my newsletter https://compoundeddaily.com 👈 ------- The FTX Bankruptcy has shed light on a lot of bad business and investing practices both within the company and outside of it. One of the biggest issues that now seems funny in hindsight was the undue attention placed on the businesses founder and CEO, Sam Bankman-Fried or SBF as he is better known amongst recently bankrupted crypto bros. In the lead up to its eventual collapse, SBF arguably got more attention than the multi billion-dollar organisation he ran. Unsophisticated financial commentators all the way up to the worlds largest venture capital firms were captivated by the fact that he wore the same sneakers as their grandparents and drove a Toyota corolla. As the FTX story unfolds allegations are now coming to light that this geeky persona was little more than a carefully curated image and that Bankman-Fried would go so far as to intentionally act erratic with outside investors because it furthered his image as some kind of misunderstood visionary genius. But what was for some reason a big selling point for SBF and his doomed companies should really be a cautionary tale for all of us. Visionaries do not make good CEO’s and to take it a step further, good CEOs should not be visionaries. It’s easy to throw stones at the rubble of a bankrupt company like FTX, but celebrity CEO’s have become a genuine problem that might be costing us all a lot of money even if we don’t directly invest in their companies. So it’s time to learn How Money Works to find out why knowing who the CEO of a company is could be a really bad sign. #ceo #business #howmoneyworks Credits: Thanks to EdEd6767 for the photo at 7:19 https://commons.wikimedia.org/wiki/File:Exterior_of_YouTube_Space_Kings_Cross.jpg Edited By: Andrew Gonzales Music Courtesy of: Epidemic Sound Select Footage Courtesy of: Getty Images For sponsorship inquiries, please contact
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