I don't think it works for them, I think they are just entrenched with good moats.
What I think actually happens is they get to prove all sorts of ridiculous things are good management and that all sorts of managers need to be coming up with complex ways to manage what would be obvious in a situation where reality was still visible underneath.
In the end they pay a lot more than if they had competent individual contributors and less darwinian fights to the death in their org charts. But having a better organization is not really compatible with the incentive system involved.
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I don't think it works for them, I think they are just entrenched with good moats.
What I think actually happens is they get to prove all sorts of ridiculous things are good management and that all sorts of managers need to be coming up with complex ways to manage what would be obvious in a situation where reality was still visible underneath.
In the end they pay a lot more than if they had competent individual contributors and less darwinian fights to the death in their org charts. But having a better organization is not really compatible with the incentive system involved.