GameStop was started as a side gig by Riggio, who was also the founder of Barnes and Noble. He has bigger things to worry about, like his retirement. It's been run by professional executives for the most part.
DeMatteo is still around, but I think that's it for the founding team. If you can call a series of merges a founding.
Yeah, if I own a company, I'll sweat and bleed to make it successful. That's the #1 founder / startup advantage.
That's not true for publicly-traded companies. Those are an abstraction. If a CEO is making $35 mil and someone offers them $50 mil, guess where they're going?
A lot of startups don't realize that as a source of advantage, but it's a big one. It's a lot of where the agility comes from too. A professional CEO need to first worry about keeping their job, then about their next job, and finally, the organization. For a founder, for the most part, those are one and the same.
If you gave me a failing public business as an owner -- with no accountability, no board to please, no existing executive team to back stab me, and all the upside -- I'd do better than most CEOs in turning it around. That's not because I'm more qualified or competent, but because I'd have the freedom of being an owner. The original CEO, if properly incentived, would usually do a better job than I would, in turn.
What a concept.
The owners are the shareholders.
GameStop was started as a side gig by Riggio, who was also the founder of Barnes and Noble. He has bigger things to worry about, like his retirement. It's been run by professional executives for the most part.
DeMatteo is still around, but I think that's it for the founding team. If you can call a series of merges a founding.
Yeah, if I own a company, I'll sweat and bleed to make it successful. That's the #1 founder / startup advantage.
That's not true for publicly-traded companies. Those are an abstraction. If a CEO is making $35 mil and someone offers them $50 mil, guess where they're going?
A lot of startups don't realize that as a source of advantage, but it's a big one. It's a lot of where the agility comes from too. A professional CEO need to first worry about keeping their job, then about their next job, and finally, the organization. For a founder, for the most part, those are one and the same.
If you gave me a failing public business as an owner -- with no accountability, no board to please, no existing executive team to back stab me, and all the upside -- I'd do better than most CEOs in turning it around. That's not because I'm more qualified or competent, but because I'd have the freedom of being an owner. The original CEO, if properly incentived, would usually do a better job than I would, in turn.