There is a survivor bias that plagues old-economy CEOs and their shareholders. My nightmare job is the “invisible until you fuck up” position. These jobs are everywhere: IT, corporate treasurer, auditor, air traffic controller, nuclear power plant operator, county elevator inspector, TSA officer. You’ll never be famous, but you have a small, and terrifying, chance of being infamous. CEOs of successful old-economy firms have a similar bias—they are “rich until they fuck up.” CEO pay has become so crazy that on a risk-adjusted basis, you’re better off staying out of traffic, logging your six to
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