Alex Hormozi argues that companies with terrible cultures pay the most because they need to bribe people to stay. Banks, insurance, and oil companies throw money at retention. Places with strong cultures like Facebook and Google don't need to.
The companies that have the worst culture in the world are the companies that have to pay the most money. There are multiple vectors of value that people receive in order to come and work for you and financial compensation is just one of those factors. If somebody's chasing money I can just give them the shortcut I can give them the hack and it's to go work at a bank or an insurance company and it's because they have by and large terrible culture. Crazy stuff goes on in those environments and therefore they have to overpay and pay a premium in order to convince people to come and work for them. Facebook and Google by and large those companies don't pay the most amount of money. Oil companies do, insurance companies do, banks do. Their vector of value that's the only price that they can pay is financial. I try and invest in the areas that I have an advantage culture, training, opportunity, mentorship. Create an environment where people love to come in and work.
