Corporate Fraud Investigator: "You wouldn't believe the hubris of the super-rich"

[TygrBright]

(Actually, I totally would. The only thing that could shock me would be evidence of humility and compassion among the super-rich CEOS and techweenie wunderkinder.)

From The Guardian

There is something unique to our era that encourages the charlatan. As well as investigating corporations, I am also a novelist, and I think we live in the age of the corporate fairy-tale: a magical land of unicorns and eternal growth. “What’s the story?” investors like to ask about the latest hot start-up, willing the narrative to be true even as they live the myth of their own absolute rationality.

Elon Musk once said: “Brand is just a perception, and perception will match reality over time.” Put another way, if the emperor believes he is wearing wonderful clothes, others will start to believe it too. When I was researching my debut novel, in which a tyrant’s wife stands trial for her husband’s corruption, I found someone else making an eerily similar point to Musk. It wasn’t from another business leader; it was Imelda Marcos. “Perception is real,” the wife of the former Philippines dictator said. “And the truth is not.”

One of my contacts met with Theranos’s Elizabeth Holmes at a time when investors were falling over themselves to give her money. He couldn’t see how Theranos’s work was possible, he said. His company didn’t invest, but he was sidelined internally for missing out on the hot new thing. By the time the company collapsed, vindicating his decision, he’d left the firm.

In another case, I spoke with a whistleblower who was subjected to silent phone calls and phishing attacks. He also believed he was being followed. Just before he was fired, they tried to send him on a business trip to a developing nation. He called his manager, who knew about his whistleblowing. “He said if I went, I wouldn’t come back.”

Quelle surprise...

cynically,
Bright

[Walleye]

1. Hence, Jared Kushner commits all kinds of vile crimes with impunity

[republianmushroom]

2. Oh Yes, I would.

[Skittles]

9. DITTO

I wouldn't put ANYTHING past those cheating fuckers.

[Midnight Writer]

3. "You can't cheat an honest man"

[Caliman73]

4. Yes I would believe the hubris of the super rich...

I know it is a turn of phrase but, that is what the super rich operate from, and they do so because society helps.

When you are super rich (think Elon Musk) everyone tells you what a "genius" you are, how special, etc... You get first access to whatever you want, you get special consideration. Where laws are concerned, you get the best lawyers and usually evade any consequences for your actions.

Why the hell wouldn't you be arrogant and believe you are better and deserve all the special consideration?

It is okay to acknowledge the talent of celebrities and athletes and to applaud innovations and innovators. We need to stop worshipping them though. We need to stop putting them on a pedestal and blindly following people with money and power.

They should be held the the HIGHEST standards and their falls from grace should be the hardest, because we entrust them to make life better. If they betray that trust for their own benefit and our harm, they should be punished most severely.

[temporary311]

5. The hubris of the people who think

they can destroy the world and ride it out in a New Zealand bunker? Those people?

[Evolve Dammit]

6. Yes I would. They don't give a fuck about anything except their family and friends (maybe)

[rubbersole]

7. That proves donnie isn't rich...🤪

[hippywife]

8. I'm pretty well convinced that...

this era's hyper wealthy doesn't differ in attitude from the 19th century robber barons. The difference is the additional tech involved in many cases (just different industries), as well as a more global scale.