1) Don’t hire mediocre people. We knew this new VP was terrible. But the guy being promoted was impatient and wanted someone to take over.
2) Upper management and the board must not forget the reason why the company exists, and put profit ahead of the mission. Otherwise you end up with 1980s GM, or the Boeing 800 Max. Read this speech by Dave Packard, a founder of HP. https://sriramk.com/memos/packard.pdf. A very clear, concise summary of how to run a company, and how to think about your job. And anyone who has experienced corporate America can immediately see that nearly no companies are run this way.
