There’s a table calendar on my colleague’s desk. The month of January has on it the photo of a man with curly, ruffled hair holding up two wall clocks on his shoulders; one clock shows 9 and the other clock shows 5. The punch line reads: “Success cannot come from a 40-hour week”. I love the illustration for the simplicity with which it conveys a very powerful message. Hidden into it is also the idiosyncrasy of being displayed on a guy’s desk who clocks 40 hours per week.
But the elephant in the room is easy to spot. I went up to this guy and asked him how he interpreted the line “Success cannot come from a 40-hour week” He looked at me with a “Duh!” and continued “It could mean one of two things: A) is that success cannot come from putting in just 40 hours per week at my job or, B) I need to be more efficient with the 40 hours that I put in to be more successful.” Maybe that’s how you would interpret it too.
But let me tell you how a man who takes home 1 dollar a year as salary would view the statement. The 40-hour week is representative of a job (or in other words something that the great majority is involved in). To be in position to take home a dollar in pay check, the guy would not have to depend on his pay check for food. And that means, his net worth/ passive stream of income would make his paycheck irrelevant. Again, that implies he keeps his job as head of Apple not because he has to (for Goodness sake), but because he chooses to. As popularly misunderstood, a 1$ paycheck to a CEO of a company who holds equity in it means nothing. However, a CEO with no equity in his company is never going to see a 1$ pay check. He’ll be well taken care off (or at least, that’s how it’s made to look).
A friend said this over lunch: “If you borrow 3 lakhs from a bank, the bank owns you. If you borrow 3 crores from a bank, you own the bank.” I’d say “If your company pays you a 100, 000 a year, the company owns you. If it pays you one dollar a year, you own it.”
Wish you a speedy recovery, Mr. Jobs.
23 comments:
A good one. $1 seems good and strange for the people who are far away and visualize things from a very weird/queer perspective. To motivate the freshers (almost all the IT companies do this)people say that CEO of almost this and that company works for 16-18 hours in a day and the simple reason behind this is,"He is opting for it and he is not a creep who is doing it out of fear of his senior." He is probably loving staying awake for 17 hours and if biology permits he will put in the rest of 7 as well.
Cheers, Life is beautiful
Too complicated things da :(
Haat khade :)
Too complicated things da :(
Haat khade :)
we will talk abt this F2F
OR success is how YOU define it. It's possible that success can have nothing to do with work if you spend your free time with personally fulfilling things.
It's nice to hear that Steve Jobs makes a buck a year. That should be a good example to other CEO's. I do believe however that what Mr. Jobs ought to do that will benefit the country is to STOP sending his products to be assembled or manufactured in CHINA. I was shocked when I found out Apple products are manufactured in frigging China. So, in conclusion, I think that Mr. Jobs' "generosity in taking a buck" as his annual salary is all for public relations, nothing else. I hope you are reading this Mr. Jobs. If you really want to inspire America, bring those jobs backs to your country.
As President John F. Kennedy once said, "Ask not what your country can do for you , but what you can do for your country." So Mr. Jobs, if you really love your country, show it through your actions. Bring all your work being done outside of the US back into the US. You won't make as much profit, but people will buy more of your products, and you'll be a hero. You make enough money for several lifetimes. Start this trend or movement. Bring all your manufacturing work back to the USA. Put that Made in the USA back in vogue and help your fellow Americans when we need help. God bless America.
As President John F. Kennedy once said, "Ask not what your country can do for you , but what you can do for your country." So Mr. Jobs, if you really love your country, show it through your actions. Bring all your work being done outside of the US back into the US. You won't make as much profit, but people will buy more of your products, and you'll be a hero. You make enough money for several lifetimes. Start this trend or movement. Bring all your manufacturing work back to the USA. Put that Made in the USA back in vogue and help your fellow Americans when we need help. God bless America.
Ok! People...
This is how it works.
When you own a Company, you can decide whether to:
1. a. Receive a huge Paycheck and win a ticket to pay taxes for it, AND only deduct limited amount of your expenses.
b. And also pay taxes for company income.
*** That will make you pay taxes twice.
2. a. OR You can receive $1 Paycheck and pay no taxes as employee.
b. And only pay taxes for company income, AND companies can deduct a lot more than an Employee, like DEDUCTING WHAT THEY PAID FOR YOUR HOME, CAR, PRIVATE JET, HOTEL, FOOD, CELL, SATELLITE PHONE, CABLE, ETC.
*** This will have you pay less taxes because all of deductibles your company can report that you as an employee CAN'T. :-)
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