Transcription
Starbucks. Right now, they had a former CEO, a guy named Laxman, that was a co-CEO for 17 months that they just fired. When they hired him at the time, Starbucks was worth $14 billion. 17 months later, you know what Starbucks was worth? $74 billion. He lost Starbucks $40 billion in 17 months.
The guy they hired, Laxman—22 years or so he was a consultant at McKinsey. You know why a big part of the consulting industry is getting destroyed? Because they're hiring MBAs who have never run a company before, and then all of a sudden they're saying, "Why don't you come and run Starbucks since you are such a big-time consultant at McKinsey? Come help run the company." And then they realize consultants don't know how to run a company. Consultants are good at telling you what to do.
In an interview, he's been asked a question on Forbes. He says, "When somebody calls me after 6:00, why are you asking me that question after 6:00?" What? You are the CEO of an $114 billion company. That's the example you're setting. So when my guys in my department want to ask me a question after 6:00, guess what I say? Well, the CEO Laxman doesn't answer questions after 6:00. Why should I?