etgpao
6 hours ago
Calling employees 'lower-value human capital' reveals a lot about a company's internal culture, regardless of the PR walkback. Even if AI can automate certain tasks, language like this completely destroys team morale and trust. Good leaders should view automation as a tool to empower their team, not just a weapon to cut costs.
ryandvm
5 hours ago
Especially when it comes to CEOs. I have worked at companies where the CEOs literally offered nothing but the skill of being friends with other CEOs.
SoftTalker
4 hours ago
CEOs are there for the board to throw under the bus when necessary.
dijksterhuis
4 hours ago
“skills not required” but they will throw their weight around as if they have them.
red-iron-pine
an hour ago
"its a big club and you're not in it"
mbesto
5 hours ago
Yes and no. The company is a bank - it's job is to take money and make money with that. I'm not surprised executive management is publicly saying they want to make investments in assets that will help their clients and they themselves make more money.
happytoexplain
5 hours ago
That's not what the parent commented on.
mbesto
5 hours ago
"Even if AI can automate certain tasks, language like this completely destroys team morale and trust. "
That's what the parent commented on and that was my response.
rambojohnson
4 hours ago
Saying ‘banks exist to make money’ in response to criticism of dehumanizing language is like responding to criticism of factory pollution with ‘factories make products.’ Yes. That’s the premise...
Henchman21
3 hours ago
Why is it that the C-suites, etc., have so much fucking zeal for hurting normal people? Why is it that these folks are champing at the bit for layoffs? Why do they refer to people as "human resources" or almost unimaginably worse "lower-value human capital"?
And why, why sir, do you enjoy the taste of boot so much?
mbesto
2 minutes ago
I think what he said is deplorable (hence "yes and no"). However I'm speaking specifically to the premise of what the parent said around "it destroys team morale". What I'm saying is that your team's morale may not necessarily be hurt if you are a team member at a bank full of investment bankers, capital financiers, etc. if the promise to them is that many of them can make more money with AI.
kyboren
2 hours ago
I believe "dark triad" personality traits are significantly over-represented among CEOs vs. the general population. IMO it's likely that these traits are positively selected by shareholder capitalism and traditional corporate structures.
slater
3 hours ago
Because they live in a different world.
asdff
5 hours ago
Where does it stop? Slavery would be fine if only it were legal? I mean that is the logical conclusion of a lot of business efficiency thinking. Business efficiency in a lot of ways is inhuman and against the spirit of "the collective tribe," which was originally about mutual wellbeing, not the ever more efficient extraction of resources to the benefit of the chosen few, although it was perverted that way at some point by those with the relevant mutations predisposing them to sociopathy.
mysteria
4 hours ago
Considering the unethical practices done in the name of money I wouldn't be surprised that some companies would make use of slaves if it was legal to do so.
JohnFen
4 hours ago
In the US, slavery is still legal and allowable (federally -- some states don't allow it) as long as the slaves are inmates. Many companies use that labor for profit.
RiverCrochet
4 hours ago
Slavery is actually legal. The 13th Amendment banning it has the explicit exception "except as punishment for a crime". Prison labor is used by a number of industries.
krapp
4 hours ago
>Where does it stop? Slavery would be fine if only it were legal? I mean that is the logical conclusion of a lot of business efficiency thinking.
Yes. Numerous corporations use outsourced slave labor in places where it is legal, or where bribery makes it easy to look the other way. Many of the rare earth elements in your electronics were mined and the devices assembled by slave labor. Agricultural companies United Fruit Company and Nestle are notorious for teaming up with local criminal groups and kidnapping locals in various countries and running slave labor camps.
fullshark
4 hours ago
The CEO has a fiduciary duty to act in the best financial interests of the company and its investors. So if slavery were legal and the company weren’t using slaves the CEO would be in violation of that responsibility and would be thrown out by the board.
It’s best just to view these organizations and the people who run them as immoral and sociopathic money printing machines. Expecting morality is just going to disappoint you.
happytoexplain
3 hours ago
>It’s best just to view these organizations and the people who run them as immoral and sociopathic money printing machines.
People say this a lot, but that is exactly what we are doing.
We criticize their behavior and words. We are disgusted by them. We want things to change. We write about and speak about it. We vote (hopelessly). That is exactly how normal humans behave in regard to those they view as "immoral and sociopathic", as you say. "That's how the system works" is a fine thing to point out, but it's not some kind of evidence that people shouldn't react they way they do - that they should just accept it forever.
We are already doing what you are suggesting.
fullshark
2 hours ago
The logical next step is then regulation is it not? I don't hear a lot of clamor for regulation on these boards.
sieabahlpark
4 hours ago
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NDlurker
5 hours ago
That bank needs a mass exodus of human capital, either from the top or bottom.
Reminds me of a much smaller scale event at my job recently. A manager who was not liked lost all their staff from their small department and is now stuck with all the work until those positions are filled.
user
5 hours ago
catigula
4 hours ago
Companies don't have a duty to their employees.
They should, but they don't.
Use and abuse is lawful and expected.
elzbardico
4 hours ago
Oh man. It is a bank, Most finance people think exactly like that.
They just pretend most of the time they don't and we also pretend that we believe them most of the time.
Maybe it is about time we stop with all those pretend pleasantries and face the reality: when mega finance CEOs talk about our glorious UBI feature, they are not planning an idilic post-work world that looks like a Jehova's witness book illustration where we all spend our days writing poetry, painting and making music, they are planning something more like Soylent Green.
gedy
4 hours ago
> they are planning something more like Soylent Green
Or even just Children of Men.
bdangubic
5 hours ago
"lower-value human capital" sounds like a compliment to me, would expect a lot worse from an average CEO
cyanydeez
4 hours ago
I don't think it's just internal culture. It's the epstein culture. We're watching the rise of the 'permanent underclass' and debating about what color of underclass everyone wants to be.
kakaz
6 hours ago
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