Comment by lenerdenator
3 hours ago
CEOs are hired by boards. Boards are hired by shareholders. Most publicly-traded American companies have their shares held by pension and retirement funds. Pension and retirement funds exist to send money to people over 55.
I'm sure VPs are sweating bullets over the instructions they will receive during the part of the shareholder's call where mutual fund managers dial their members and hold the phones up to each other.
By that definition anything that happens in politics or corporate america is "fervently pushed by people over 55", because that's the group with the most political and economic power. AI push? Boomers. Datacenter backlash? Boomers. ESG push? Boomers. ESG backlash? Boomers.
Yes, as an oldster I’m constantly on the phone with mutual fund managers expressing my desire for CEOs to push more AI. :eyeroll:
Now if you’ll excuse me, I have to get back to conspiring with my fellow seniors to keep house prices up in my local area.