Should CEOs Avoid Cost Cutting?

Garry Tan says the responsibility for CEOs and people who have a lot of privilege is not to cost cut. Cost cutting is the easy way, and it can result in a dystopian moment where capital accumulates more and more wealth and people are not sharing it.

Someone with domain expertise should pair with a 22 year old who knows how to make 400 times the amount of software people could make before, or train themselves to do it, and start a company in the space they know. The company may be exactly what they did before, or something two clicks away. Either way, it requires an increase in the amount of agency. People should go into their own history and their own lives and ask what they uniquely know, what life they lived, what obscure hobbies they have, and what they have seen that nobody else has seen. They then pair that knowledge with the ability not just to code, but to think and to reason.

The combination raises the floor. The ceiling is sky high.