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               There has been a lot of talk about AI eventually replacing lower-rank workers. But why not start with the highest-paid corporate executives? by Zachary Crockett.
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                Issue #246
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                 <img alt="The Hustle, March 12, 2023" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252FCEO-header.gif/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1pbJCY:5USKOvjtlqrlanJmZQ-p_al0KyUVKzFIRtFFw9OqhzY" style="width: 100%; max-width: 600px; height: auto; display: block;" width="600"/>
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                March 12, 2023
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            <h2 style="font-size: 30px; font-family: 'Oswald', 'Roboto', helvetica, sans-serif; font-weight: bold; line-height: 120%; margin-bottom: 6px; margin-top: 25px;">
             <strong>
              Should we automate the CEO?
             </strong>
            </h2>
            <p style="font-family: Helvetica, sans-serif; font-size: 18px; line-height: 120%; padding-bottom: 10px; font-style: italic; color: #737373; margin: 0;">
             There has been a lot of talk about AI eventually replacing lower-rank workers. But why not start with the highest-paid corporate executives?
            </p>
            <p style="font-family: Helvetica, sans-serif; font-size: 13px; line-height: 120%; padding-bottom: 24px; margin: 0;">
             <strong>
              BY
              <a style="color: #121212; text-decoration: underline !important; text-transform: uppercase;">
               Zachary Crockett
              </a>
             </strong>
            </p>
           </td>
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            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Last August,
             <strong>
              NetDragon Websoft
             </strong>
             — a Hong Kong-based online gaming firm with $2.1B in annual revenue — appointed a CEO to helm its flagship subsidiary.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             The new chief, Tang Yu, was responsible for all of the typical duties of a company figurehead: reviewing high-level analytics, making leadership decisions, assessing risks, and fostering an efficient workplace.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             She worked 24/7, didn’t sleep, and was compensated $0 per year.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             But there was a catch: Yu wasn’t a human. She was a virtual robot powered by artificial intelligence.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             So far, having an AI CEO hasn’t had any catastrophic consequences for NetDragon Websoft. In fact, since Yu’s appointment, the company has outperformed Hong Kong’s stock market.
            </p>
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            <img alt="AI CEO performance" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Fhongkongchart.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1pbJCY:5USKOvjtlqrlanJmZQ-p_al0KyUVKzFIRtFFw9OqhzY" style="width:100%; max-width: 600px; height:auto;padding-top: 10px;" width="600"/>
            <p align="left" style="font-family: 'Roboto', helvetica, sans-serif; color: #192733; font-size: 12px; font-style: italic; padding-bottom: 10px; text-align: left; line-height: 20px; margin: 0px;">
             Zachary Crockett / The Hustle
            </p>
           </td>
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          <tr>
           <td class="h2020 ignore-defaults" style="padding: 0px 10px;">
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             As AI tools have become more robust, automation experts have philosophized about replacing vast swaths of workers.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             McKinsey Global Institute recently
             <a style="color: #192733; text-decoration: underline !important;">
              predicted
             </a>
             that
             <strong>
              45m workers
             </strong>
             , or ~28% of the entire American workforce, would lose their jobs to automation by 2030.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Most automation efforts have been centered around eradicating so-called lower-level and blue-collar jobs like warehouse workers, truckers, clerical assistants, and food prep workers. More recently, AI has threatened white-collar roles like
             <a style="color: #192733; text-decoration: underline !important;">
              accountants
             </a>
             and
             <a style="color: #192733; text-decoration: underline !important;">
              journalists
             </a>
             .
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             But while executives at the top of the corporate food chain celebrate the cost-cutting virtues of AI displacement, they rarely seem to turn the spotlight on themselves.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             The incentives for workplace automation are largely financial. So why not start by replacing the highest-paid employee of them all — the CEO?
            </p>
            <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
             <strong>
              The financial case for replacing CEOs
             </strong>
            </h4>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             At Fortune 500 firms, the
             <a style="color: #192733; text-decoration: underline !important;">
              average
             </a>
             CEO pay is now ~
             <strong>
              $16m
             </strong>
             per year.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Over the past
             <a style="color: #192733; text-decoration: underline !important;">
              45 years
             </a>
             :
            </p>
            <ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
             <li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              The average CEO pay has gone up
              <strong>
               1,460%
              </strong>
             </li>
             <li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              The average worker pay has only gone up
              <strong>
               18%
              </strong>
             </li>
            </ul>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             As a result, today’s average CEO is paid the equivalent of
             <strong>
              399
             </strong>
             median workers.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             At larger companies, this ratio is often many multiples higher: For instance, in
             <a style="color: #192733; text-decoration: underline !important;">
              2021
             </a>
             , Amazon CEO Andy Jassey received a package worth
             <strong>
              $213m
             </strong>
             — equal to the collective wages of
             <strong>
              6,474
             </strong>
             Amazon employees. That’s enough workers to fully staff four fulfillment centers.
            </p>
           </td>
          </tr>
          <tr>
           <td align="center" style="text-align: center;">
            <img alt="CEO-to-average-worker pay ratio over time" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Fceopay.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1pbJCY:5USKOvjtlqrlanJmZQ-p_al0KyUVKzFIRtFFw9OqhzY" style="width:100%; max-width: 600px;height:auto; padding-top: 10px;" width="600"/>
            <p align="left" style="font-family: 'Roboto', helvetica, sans-serif; color: #192733; font-size: 12px; font-style: italic; padding-bottom: 10px; text-align: left; line-height: 20px; margin: 0px;">
             Zachary Crockett / The Hustle
            </p>
           </td>
          </tr>
          <tr>
           <td class="h2020 ignore-defaults" style="padding: 0px 10px;">
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Even die-hard free market capitalists have had trouble justifying these pay packages.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Most economic scholars who have studied CEO pay have concluded that executives have substantial “
             <a style="color: #192733; text-decoration: underline !important;">
              rents
             </a>
             ” — that is, they earn far more than what they give back by measure of productivity.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Research has shown that there may actually be an
             <a style="color: #192733; text-decoration: underline !important;">
              <em>
               inverse
              </em>
              relationship
             </a>
             between CEO pay and long-term company performance.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             One
             <a style="color: #192733; text-decoration: underline !important;">
              study
             </a>
             examined executives at 400 firms between 2006 and 2015 and found that:
            </p>
            <ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
             <li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              At the 20% of companies with the
              <strong>
               highest-paid
              </strong>
              CEOs, a $100 investment would have grown to $265.
             </li>
            </ul>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             At the 20% of the companies with the
             <strong>
              lowest-paid
             </strong>
             CEOs, a $100 investment would’ve grown to $367 — 38% more.
            </p>
           </td>
          </tr>
          <tr>
           <td align="center" style="text-align: center;">
            <img alt="CEO pay versus performance" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Fcorrelate.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1pbJCY:5USKOvjtlqrlanJmZQ-p_al0KyUVKzFIRtFFw9OqhzY" style="width: 100%; max-width: 600px; height: auto; padding-top: 10px;" width="600"/>
            <p align="left" style="font-family: 'Roboto', helvetica, sans-serif; color: #192733; font-size: 12px; font-style: italic; padding-bottom: 10px; text-align: left; line-height: 20px; margin: 0px;">
             Zachary Crockett / The Hustle
            </p>
           </td>
          </tr>
          <tr>
           <td class="h2020 ignore-defaults" style="padding: 0px 10px;">
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             One reason for this is that executive pay structures incentivize CEOs to chase short-term profits rather than meaningful long-term growth.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Most of a CEO’s compensation is dependent on boosting metrics like earnings-per-share, which can be fudged through maneuvers like
             <a style="color: #192733; text-decoration: underline !important;">
              stock buybacks
             </a>
             . The result of this is that CEOs are often handsomely rewarded even when they lead their companies to abysmal financial outcomes.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Among the many recent examples:
            </p>
            <ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
             <li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              <strong>
               Warner Bros. Discovery
              </strong>
              CEO David Zaslav earned $247m in compensation in 2021 and was subsequently
              <a style="color: #192733; text-decoration: underline !important;">
               named
              </a>
              “the worst CEO of 2022” after executing a number of massive strategic bungles that plummeted the company’s stock by 37%.
             </li>
             <li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              <strong>
               Hilton
              </strong>
              CEO Chris Nassetta raked in $55.9m amid losses of $720m and record-high vacancy rates.
             </li>
             <li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              <strong>
               Boeing
              </strong>
              CEO David Calhoun received $21.1m despite plans to lay off 30k workers, major issues with the 737 jet, and a reported loss of $12B.
             </li>
            </ul>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             While many CEOs have gotten more expensive and less effective over time, technology has simultaneously become cheaper and more reliable.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Replacing CEOs with AI would not only save firms millions of dollars in payroll costs, but would minimize, or altogether eradicate, the personal motives that often lead to less-than-ideal corporate outcomes.
            </p>
            <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
             <strong>
              But is replacing a CEO with AI even possible?
             </strong>
            </h4>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             In late 2022, the Organisation for Economic Co-operation and Development (OECD) — an international consortium that aims to “stimulate economic progress” — put together a
             <a style="color: #192733; text-decoration: underline !important;">
              report
             </a>
             analyzing the likelihood of automation affecting different occupations.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             CEOs (categorized as “top executives”) were nearly dead last, right next to religious workers.
            </p>
           </td>
          </tr>
          <tr>
           <td align="center" style="text-align: center;">
            <img alt="jobs most and least at risk of automation" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Friskofauto.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1pbJCY:5USKOvjtlqrlanJmZQ-p_al0KyUVKzFIRtFFw9OqhzY" style="width: 100%; max-width: 600px; height: auto; padding-top: 10px;" width="600"/>
            <p align="left" style="font-family: 'Roboto', helvetica, sans-serif; color: #192733; font-size: 12px; font-style: italic; padding-bottom: 10px; text-align: left; line-height: 20px; margin: 0px;">
             Zachary Crockett / The Hustle
            </p>
           </td>
          </tr>
          <tr>
           <td class="h2020 ignore-defaults" style="padding: 0px 10px;">
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             “My gut feeling is that CEO will be the very last job to be automated,”
             <strong>
              Marguerita Lane
             </strong>
             , a labor economist with OECD, told
             <em>
              The Hustle
             </em>
             .
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Lane says that most of the components of a CEO’s role that can’t be replicated by AI are rooted in the human touch: being a figurehead for accountability, selling a vision, communicating with the public, negotiating.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             A large part of a CEO’s job is to essentially serve as a company mascot — and mascots are fairly AI-proof.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             But that’s not to say that many of the other elements of a CEO’s job can’t be automated.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             McKinsey has
             <a style="color: #192733; text-decoration: underline !important;">
              estimated
             </a>
             that
             <strong>
              ~25%
             </strong>
             of a CEO’s time is spent on tasks that machines and/or AI could potentially replicate — reviewing financial performance, sending emails, forecasting trends.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Some CEOs have openly admitted to automating a much larger portion of their job by outsourcing the bulk of their responsibilities to other workers.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Several years ago, an American entrepreneur named Christine Carrillo, who bills herself as “The 20 Hour CEO,”
             <a style="color: #192733; text-decoration: underline !important;">
              posted a thread
             </a>
             on Twitter detailing how her executive assistant — hired in the Philippines, where the average salary is $9.5k/yr— performed 60% of her duties, including:
            </p>
            <ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
             <li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              Managing fundraising models
             </li>
             <li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              Gathering sales leads
             </li>
             <li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              Creating financial models
             </li>
             <li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              Running payroll
             </li>
             <li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              Recruiting new hires
             </li>
             <li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              Drafting investor updates
             </li>
             <li style="font-size:16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              Conducting critical market research
             </li>
            </ul>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             As Will Dunn at
             <em>
              The New Statesman
             </em>
             later
             <a style="color: #192733; text-decoration: underline !important;">
              wrote
             </a>
             : “If most of a CEO’s role can be outsourced, this suggests it could also be automated.”
            </p>
           </td>
          </tr>
          <tr>
           <td align="center" style="text-align:center;">
            <img alt="roles of CEO job that could be automated" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Froles-CEO.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1pbJCY:5USKOvjtlqrlanJmZQ-p_al0KyUVKzFIRtFFw9OqhzY" style="width: 100%; max-width: 600px; height: auto; padding-top: 10px;" width="600"/>
            <p align="left" style="font-family: 'Roboto', helvetica, sans-serif; color: #192733; font-size: 12px; font-style: italic; padding-bottom: 10px; text-align: left; line-height: 20px; margin: 0px;">
             Zachary Crockett / The Hustle
            </p>
           </td>
          </tr>
          <tr>
           <td class="h2020 ignore-defaults" style="padding: 0px 10px;">
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Another area of potential automation is the executive decision-making process.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Each year, executives make
             <a style="color: #192733; text-decoration: underline !important;">
              ~3B decisions
             </a>
             — and there is a
             <a style="color: #192733; text-decoration: underline !important;">
              direct link
             </a>
             between the
             <em>
              effectiveness
             </em>
             of these decisions and a firm’s financial performance. So, there’s an incentive for optimizing the rate of success as much as possible.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             CEOs are often heralded as decision-making geniuses. But by their own admission, they aren’t much better at making good decisions than the rest of us:
            </p>
            <ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
             <li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              In a McKinsey
              <a style="color: #192733; text-decoration: underline !important;">
               report
              </a>
              ,
              <strong>
               72%
              </strong>
              of executives admitted to making bad decisions at least as frequently as good decisions.
             </li>
             <li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              At the average S&amp;P 500 company, ineffective decision-making leads to
              <strong>
               $250m per year
              </strong>
              in losses and wasted opportunities.
             </li>
            </ul>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Executives are already increasingly relying on aid from algorithms and machine learning to improve these ratios.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             A new field of machine learning called
             <strong>
              decision intelligence
             </strong>
             automates and augments the executive decision-making process by “linking data with decisions and outcomes.” Firms like IBM, Google, and Alibaba have all jumped into the space in recent years.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Some scholars are skeptical that such tools could model the contextual complexities of executive problem-solving.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             <strong>
              Oded Netzer
             </strong>
             , a professor at Columbia Business School who specializes in text-mining techniques, estimates that current tools could probably automate “a good
             <strong>
              30%-40%
             </strong>
             ” of executive tasks. But he argues that human decision-making requires contextual awareness that AI can’t replicate.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             “For AI to work, it needs to train on data,” he says. “The less repetitive a job is, the harder it is to collect data on. Each executive decision requires different inputs and considerations that make it hard to apply a predictive framework.”
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             What does AI
             <em>
              itself
             </em>
             think about all of this?
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             We asked
             <strong>
              ChatGPT
             </strong>
             , the powerful AI chatbot that is currently rekindling fears of automation, to ruminate on the likelihood of a great CEO replacement.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             It admitted it wasn’t up for the job yet — at least not “in the near future.”
            </p>
           </td>
          </tr>
          <tr>
           <td align="center" style="text-align: center;">
            <img alt="ChatGPT response" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Fchatgpt-CEO.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1pbJCY:5USKOvjtlqrlanJmZQ-p_al0KyUVKzFIRtFFw9OqhzY" style="width: 100%; max-width: 600px; height: auto; padding-top: 10px;" width="600"/>
            <p align="left" style="font-family: 'Roboto', helvetica, sans-serif; color: #192733; font-size: 12px; font-style: italic; padding-bottom: 10px; text-align: left; line-height: 20px; margin: 0px;">
             ChatGPT thinks that human CEOs will be around for a while (OpenAI)
            </p>
           </td>
          </tr>
          <tr>
           <td class="h2020 ignore-defaults" style="padding: 0px 10px;">
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Technological feasibility aside, there are other blockades to automating CEOs.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Part of what makes some jobs less likely to be automated is bargaining power — and CEOs are extremely good at convincing shareholders that they are indispensable.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             “If there were a proposal to replace them with AI, CEOs would be very well-positioned to protect their interests, much in the same way they are in salary negotiations,” says OECD’s Lane.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Even if AI were capable of entirely replacing the CEO, Lane imagines that social norms would serve as a barrier of protection.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             “If two roles inside a company suddenly became automatable — one an executive position and the other an entry-level position — the employer would still let the entry-level worker go first,” she says. “Because the value that we have ascribed to CEOs exceeds that of almost any other worker.”
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Nonetheless, the broader workforce isn’t entirely opposed to getting rid of their bosses:
            </p>
            <ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
             <li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              In a 2019
              <a style="color: #192733; text-decoration: underline !important;">
               survey
              </a>
              ,
              <strong>
               30%
              </strong>
              of workers said they would gladly replace their CEO with a robot.
             </li>
             <li style="font-size: 16px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
              In a survey run by
              <em>
               The Hustle
              </em>
              ,
              <strong>
               40%
              </strong>
              of all respondents said they believed CEOs should be fully automated.
             </li>
            </ul>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             And at least one prominent voice thinks the clock is ticking for CEOs.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             Several years ago,
             <strong>
              Jack Ma
             </strong>
             , the Chinese billionaire who co-founded the Alibaba Group,
             <a style="color: #192733; text-decoration: underline !important;">
              hypothesized
             </a>
             that the emotionless logic and efficiency of AI would eventually find its way into the corner office.
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             In 30 years, he suggested, “a robot will very likely be on the cover of
             <em>
              Time
             </em>
             magazine as the best CEO.”
            </p>
            <p style="font-size: 16px; line-height: 140%; margin: 5px 0px 10px;">
             If NetDragon’s bot-in-chief can keep outperforming the stock market, that prediction might not be so far-fetched.
            </p>
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