šÆšš” ššš¦š¬š¤š¢Which CEOs are actually worth keeping around?
agamemnonymousThink the CEO of Costco did a similar move with the hot dogs
someguy3Costco also puts a maximum percent profit on items.
Really? Thatās awesome.
Apparently they make more money from memberships than from sales margins, which are capped.
MonkeyBusinessDoes anyone have a source for this?
nepenthesI left reddit after the API fiasco, but I remembered seeing this on Data is beautiful, so I just looked it up for you. (My search query in DDG was ādata is beautiful reddit Costco profit marginsā and a few popped up.)
Transcription: infographic states
Net sales $77.4B
Merch costs $69.2B
Membership fees $1.5B
Net profit $2.2B
Source listed as: Costco Q4 FY 23 earnings
Thank you very much!
Great graphic, thanks
Last I heard, their profits were nearly entirely from memberships. This was probably five years ago though. I donāt know if their numbers have changed since.
I first heard about that like twenty years ago and apparently is still true today
Also. I believe, he also said , if the workers think they need a union, weāve failed as managers.
So. Yeah
I mean, itās an understandable viewpoint.
Itās when union busting tactics are being brought in that things are problematic.
Thatās because you view it entirely positively, instead of from the angle that he doesnāt want them to even know of the possibility.
I wish more companies had this mindset. If you treat your employees well and listen to their needs, they wonāt need to unionize. When they do unionize, it means they donāt feel that they have been treated well and listened to.
It seems that the end result of this philosophy would be to treat your employees well!
lime!its an interesting difference in perspective for sure. here you join as a matter of course because you can push back against changes that are bad.
If you have an employer that does the right thing, you should have a union that doesnāt need to do much. But you should still unionise, because itās niave to think the company will always continue to behave that way. If anything, they naturally drift away from that state and itās only a matter of time until it changes. The union is about having a level playing field with the company when you need it.
bufalo1973Unionize itās not only about raising your working conditions. Itās about helping other to raise their. If you have better conditions you can tell other business owners that what the Union is asking you already have it. One less point where they can grab themselves.
To be fair, heās not really wrong, meaning that theyāve failed to take good enough care of their people, and my understanding is he didnāt stand in the way of one formingā¦
Close. The founder told the CEO if he raised the price on the hotdog āI will fucking kill youā.
So, who really gets the credit here is up to you.
The person who threatened to kill the CEO if the CEO fucked his customers, or the CEO who didnāt fuck his customers out of self-preservation?
Mossy Feathers (She/Her)What if the killer was the Costco founder? He told the United Healthcare CEO the same thing and then followed through.
They also bought 2 hotdog factories to minimize the loss.
Costco does pay decent as well.
Could they do better? Yes, but they are pretty decent for employees and consumers.
Oh come on, donāt be naĆÆve. They bought two factories so they could switch from āhot dogsā to āmechanically-recovered animal-based byproductsā letās be realistic
Aw man I thought they were still free range prairie dog peckers. Oh wait, theyāve always been cheap sausages.
You wouldnāt legally be allowed to call them sausage in the EU š
Frankfurters and Vienna sausages are the types of sausages used in hot dogs, both legal sausages in the EU.
My point is āwith a legally mandated meat content in the EUā but the folks in this thread ate so much fucking slop they have no clue what theyāre shovelling in their fat faces š
BizzleIāve never heard anyone refer to a hotdog as a sausage in the states either and I even grew up poor
Itās more like everyone knows itās a sausage. What else could it be? We donāt call them frankfurters either.
Yeah Iāve been thinking about it and I canāt find any other way to classify itā¦ even the packaging though doesnāt call it a sausage
What do you think a sausage is? They have always been animals scraps ground up and put into animal intestines. Thatās why people have been saying āyou donāt want to see the sausage being madeā for 200 years.
caseyweedermanātheyāre the same pictureā
Do you really expect hot dog sausages to be made from premium meat? They use the scraps that canāt otherwise be used, same as chicken nuggets. This is a good thing. Those sausages and nuggets are perfectly fine to eat and we get to reduce waste.
Except hot dogs are cured meat which is terrible for you.
Hurts people some, hurts animals less. Iām ok with that. I am actively in love with hot dogs though for what thatās worth.
We all pick our poisons.
well to be fair, Iām not buying a hotdog for 1 USD and expect premium meat in that thing.
JackbyDevWeāre you under the impression any hot dogs were ever anything other than mechanically-recovered animal-based byproducts?
They bought the same hotdog factories that they were already buying from. It was literally a one-to-one transition.
That is literally what a hot dog has always been bud.
I mean, arenāt those the same thing?
So what your saying is, Costcoās founder and the shooter have a similar energy?
āI came to [Sinegal] once and I said, āJim, we canāt sell this hot dog for a buck fifty. We are losing our rear ends,āā Jelinek recalled in a 2018 interview with 425 Business. āAnd he said, āIf you raise the effing hot dog, I will kill you. Figure it out.āā
Out of curiosity, how is it legal for Sinegal to say that to Jelinek? Or it isnāt but no one cares to press charges?
Iām sure the guy can tell the difference between a genuine threat and a hyperbole.
Not all jurisdictions consider that kind of phrase illegal without an apparent attempt to carry it out.
Prob same reason you can say āchoke me daddyā āOKā in bed
GabeN has been pretty cool.
Gabe has 6 yachts worth about $1 billion dollars. Not very cool at all, imho.
He didnāt kill anyone by denying them insurance or anything like that tho. Just took a commission on every game sold on Steam, a platform nobodyās forced to use.
HyperCubeAnd by running a casino that rakes in millions of dollars off kids. I can appreciate the positives he's done with Steam, but I'm not about to ignore the negatives.
Can you explain? What cassino? Is it like a game with micro transactions or something?
Tech With JakeLoot boxes are effectively gambling as there is no guarantee on what youāll get. People in general can get addicted to the rush of getting that rate item the first time (which is usually what happens with a first open to get you hooked) and then either buy more loot boxes or the keys to open them.
PsychadelligoatTbf knowing valve and looking at how their loot boxes work I donāt think they were malicious in their creation
Reminder that valves loot boxes interact with the community market, you can open a lot of boxes without spending a dime
skulblakaYeah this is something that everyone always seems to forget about this. If you get a lootbox in, say, Overwatch or Fortnite then you will pay out a fiver to open it or else it will never be opened. End of story, Blizz/Epic want their key money. *
You can open an infinite amount of Counter-Strike crates for free forever, by interacting with community marketplace. Unopened crates can be sold to other players. Steam Cards can be sold to other players. Good skins that you pull from your crates can be sold to other players sometimes at absurd prices that can finance another 200 crates. All without ever spending a dime of real money. Sure, Steam Cards and unopened crates may only sell for 5c apiece, but you get a steady stream of them for free just for playing the game, and that stream doesnāt dry up. It is perfectly feasible, if a little slow, to flip those into crate keys to loot your boxes.
And THATāS the difference that makes me take notice. Sure, they still want you to shell out five bucks for crate keys, but an alternative path has been provided. And Steam makes money on marketplace transactions too, so they arenāt about to get rid of that option.
- I figure it should be noted here, that these are outdated. I went to double check myself as I remember this from Overwatch 1 and it would seem that neither OW2 nor Fortnite still use loot crates of that style. So to be honest I actually canāt think of any games that are still up and running that still use keys & crates in this way. The gamer outrage might have actually gotten us somewhere for once.
Oh, Iām not shitting on Valve or anything. Just explaining how they could be called a casino.
I sold all my hats and bought an Index. Iām so happy they can be resold.
Yeah, heās getting kids to play at a virtual casino that has absolutely no chance of returning and financial winnings, but heās not taking millions of dollars off of kids. Considering those kids have the ability to own a gaming computer, Iām assuming the vast majority of that money comes from their parents. I donāt condone the kids gambling, but heās not taking hard-earned money from kids that are in need and leaving them broke.
Being a bit greedy =/= Killing millions of people through death panels
Huge difference
Nobody becomes a billionaire by being āa bit greedyā
One billion dollars is an insane amount of money.