If you’re a CEO you probably don’t want to read this newsletter

What’s the dumbest thing your boss has ever said? [Bloomberg]( This is the Bloomberg Opinion Today, an optimal experience of Bloomberg Opinion’s opinions. On Sundays, we look at the major themes of the week past and how they will define the week ahead. Sign up for the daily newsletter [here](. [All Apologies]( What’s the dumbest thing your boss has ever said? I have no anecdotes to share, because my own boss only utters pearls of wisdom. Also, he can read. Maybe a better question, then: What’s the dumbest thing you’ve ever heard any boss say? My money is on: “I’d like my life back.” Those words, [uttered]( by BP chief executive Tony Hayward after the 2010 Deepwater Horizon explosion killed 11 people and [8.3 billion oysters]( in the Gulf of Mexico, still sets the oil-soaked standard for corporate tone-deafness. Making equivalence with Martin Luther King Jr. — NOT a good strategy for pretty much anything, and a terrible one when [announcing layoffs]( — gets my vote for runner up. And who will ever forget the road trip to [Pity City](? So what to make of Boeing CEO Dave Calhoun and his [emotional address]( after the Alaska Airlines Flight 1282 blowout? “I didn’t know what happened to whoever was supposed to be in that seat next to that hole in the airplane,” he said in an all-hands forum. “I got kids, and I got grandkids, and so do you. This stuff matters. Everything matters.” Indeed it does. Particularly, one supposes, to the boss. Sarah Green Carmichael [gives Calhoun a mixed verdict](. “Failing to look genuinely sorry could have been a disaster for Boeing when faith in the safety of the company’s products is deservedly low and the stock has plummeted.” But Sarah sees a double standard at work: “Not everyone’s tears are seen the same way. Studies find that strong emotions, when displayed by middle-age White men, are often perceived as a sign of their passion for the job and thus their commitment. But women who cry at work are often labeled as overly emotional; people of color may be judged as out of control.” Regardless of whether Calhoun survives “[career death watch](,” it’s been a tough year in the C-suite. “A record number of CEOs stepped down last year,” [writes]( Beth Kowitt. “It has never been so difficult and so complicated to run a company, with supply-chain woes, geopolitical turmoil, the war on ESG and ‘woke’ capitalism, rapidly changing consumer habits, the disruption caused by new technology like AI and the battle against employee burnout and disengagement.” Don’t forget the exploding door plugs. But nowhere, Beth says, has this trend been more striking than in Silicon Valley, where high-profile founders are taking a “step back” to cede management to executives who’ve spent more time in the corporate cockpit. “What’s striking about the CEO exits in startup land is how antithetical they are to a long-held Silicon Valley doctrine: Under no circumstances do you ever get rid of a founder,” Beth says. “It’s an ethos that gained traction thanks to venture capital firm Andreessen Horowitz, which grew its business and reputation on the idea that founders should be CEOs to maintain their companies’ vision and mission.” It’s as though we all remember Steve Jobs but have sent the NeXT computer to a collective trash bin. This isn’t to say all CEOs had a bad week. Elon Musk [tested clean](, [cleared]( T25 solo in Diablo, and saw his other bête noire [humiliated](: Sam Altman also had [a nice week](. A nice year, actually. Amid all the departures of 2023, he pulled off [an epic trick](: Getting fired by the OpenAI board on Nov. 17, cozying up with Microsoft, getting Musk-like revenge and restored to CEO-ship two weeks later, and now operating under a new board with some friendly faces — including Larry Summers, who seems to be testing the [Caine-Hackman theory]( in real life. Parmy Olson [warns](, however, that Altman’s Cinderella ending may not include a ball. “The visionary who’s become synonymous with OpenAI risks spreading himself too thin in what could become a ferocious year for the company,” Parmy warns. “Among the urgent issues that need tackling: a string of [lawsuits]( alleging copyright infringement, as well inquiries from both [the US Federal Trade Commission]( and [European regulators]( into OpenAI’s close ties with Microsoft.” And don’t forget the troops. “OpenAI’s success until now had been so remarkable because of how small its research staff were — in the low hundreds, versus the [armies of thousands]( at Alphabet Inc. and Meta Platforms Inc. That makes their continuing dedication to OpenAI all the more crucial. But it will be hard for Altman to demand loyalty from his staff if he isn’t being entirely faithful himself.” This stuff matters. It’s not all bad to be the boss, of course. Sometimes it allows expediencies, such as offering up one of your deputies to [apologize]( for your firm “betraying the expectations of many,” with a deep bow of contrition over ... some [sloppy cakes](? Let’s hope Calhoun’s grandkids didn’t order from Takashimaya. Bonus [Big Boss Man]( Reading/Watching: - Citi’s [20,000 layoffs]( are just the beginning of Jane Fraser’s uphill battle. — Paul J. Davies - Elon Musk [isn’t getting]( enough sleep. — Matt Levine - You don’t need more resilience. You need friends. [And money](. — Sarah Green Carmichael - Shadow banking won't give [Jamie Dimon a rest](. — Marc Rubinstein - Self-help influencers have [lost the plot](. — Sarah Green Carmichael [Feedback Jam](: Have you bought a book by a CEO from which you learned anything? Let me know at tharshaw@bloomberg.net. [1](#footnote-1) [What’s the World Got in Store](? - Jan. 15: Iowa Caucus - Trump [Is About to Hear]( a Big Fraud Verdict — Timothy L. O’Brien - Jan. 17: China GDP - The $15 Billion ‘Snowballs’ That [Sour China’s Rich]( — Shuli Ren - Jan 17: UK CPI - The UK's [Economic Outlook]( Is Riding on Election Politics — Mohamed A. El-Erian [Lost My Job]( I’ve never been a fan of equating football coaches with CEOs. I found it appallingly cynical when ex-Dallas Cowboys coach Jimmy Johnson [embraced]( Mihaly Csikszentmihalyi’s incomprehensible leadership tome, “[Flow: The Psychology of Optimal Experience](,” before Super Bowl XXVII; “the ego falls away” is the last thing that comes to anybody’s mind with that team and its coach. (Disclosure: The franchise of which [I am part-owner]( — is [taking on]( the hated Cowboys in the playoffs this afternoon.) That said, the coach who has come closest to the analogy is the University of Alabama’s Nick Saban, who announced his departure on Wednesday. On Thursday, New England Patriots’ legendary coach/GM/sourpuss Bill Belichick hung up his sleeveless hoodie. Here he is, looking inspirational as always: Photographer: Jim Rogash/Getty Images North America Saban, who won 292 games[2](#footnote-2) and seven college national championships, had his own version of “Flow.” “Winning was always second to ‘[the process](,’” [writes]( Adam Minter. “He stressed the importance of putting the most effort and intensity on executing the current play, not the scoreboard.” Well, if your normal state of play is to be clobbering the poor saps on the other sideline by 11 touchdowns, it’s easy not to take a peek at the Jumbotron. Adam thinks Saban got out while the getting was good, before [name, image and likeness deals]( turned recruiting into “an ad hoc free agency.” Deion Sanders, former Cowboy (ugh) now coaching the Colorado Buffaloes, agrees. Sorry, Nick, The Process can’t compete with Prime Time. Notes: Please send a NIL money and feedback to Tobin Harshaw at tharshaw@bloomberg.net. [Sign up here]( and follow us on [Threads](, [TikTok](, [Twitter](, [Instagram]( and [Facebook](. [1] Last week's question, on whether Donald Trump poses a threat to US democracy, drew an overwhelming response of YES YOU IDIOT! This surprised me, given Bloomberg's relatively heterodox readership compared to other major MSM outlets. [2] This excludes five victories Alabama vacated in Saban's first year because of NCAA rules violations during his predecessors' reigns. Follow Us Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. [Learn more](. Want to sponsor this newsletter? [Get in touch here](. You received this message because you are subscribed to Bloomberg's Opinion Today newsletter. 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