The State I'm from, the police were just outed for this. Although they weren't hiring family but hiring and promoting officers in 'The Boys Club' their words not mine.
In the 2015-2019 portuguese government there was so much nepotism that it was a running joke. I dont have a problem with nepotism in the private sector, its their money. The problem is with public institutions and government
Private sector still affects the employees, I guess you can look for a new job but if it’s everywhere it affects how companies are compared to foreign companies
who do you think owns the government smart guy. its not the citizens. its the rich people who then pass that power down to their families. you wont find anyone not owned by some corporation in a government position for this reason. there's never been a government in eurocentric culture that wasnt controlled by private interests full of nepotism and cronyism
No because nepotism refers to relatives. Cronyism when with friends. Either advancing ones religion in leading position has already a term that we just don't know as lay persons or doesn't yet have a specific term for that scenario.
That's it? I was getting a bit excited thinking about when you started to mention governmental nepotism; I was looking forward to some current examples; Nikki Patrushev and son came to mind. Well, hopefully you continue this line of investigation, it seems quite interesting and eye opening.
Nice to have the data from publicly traded companies, but my favorite negative nepo stories are from privately held sports franchises wherein the original owner dies and and the family, rather than putting the management of the team into the hands people with experience, decide to run it themselves. Unfortunately in the US we don't have relagation so teams valuations don't correspond to wins. Even if individual teams do consistently poorly, if the league overall succeeds, with ever bigger licensing deals, they all make more money and the team values go up.
I have watched all your videos and appreciate the work you have put into them all, I have learned a lot. It is a great format and George was a great choice as the voice, but above all the content is first class. I hope your home audience has learned as much as I have. Let’s hope there can be a positive future for Russia eventually.
Also ignoring some regional things when nepotism is good. The early european banks used nepotism for a reason as the head managment of branches in other countries for a reason.
Long Island City is a neighborhood in Queens, NYC. Geographically speaking they are on the Island known as Long Island but so is Brooklyn. Long Island City is closer to Manhattan than it is to the beginning of what is considered Long Island(Nassau County).
In the UK parliament, around 1-in-7 Members of Parliament employ close family members (spouses, children) to be paid from the public purse to the tune of £3M. The practice is now banned (since 2017) but the rules only applied to new staff.
ah wasnt this how Greece got bankcrupt and IMFed.... italy has been on same route too... no wonder UK is wacko these days. it used to be somewhat decent place, as much as could be with all historical baggage, during cold war times.
I am curious if now they will employ relatives of the CEO of the campany that their children work for. I mean now they secure a privat job and "the company"(i.e. CEO) has an easy go in-between with an themselfs and an MP who makes laws including laws on the industries their relatives work at.
@@alexandrub8786laws are secondary... more common and useful are city level roles like that... one person in city council, other in board/owner of company.... then surprise, city council gives gigs and contracts to this company. Laws are important when companies are national level. Practises, day to day decisions are more important in local level.
I mean, nepotism has often made businesses flourish and reach new heights, this is specially apparent in Japanese and Korean companies. Toyota? Neoptism. Samsung? Nepotism. Honda? Nepotism again. Family business by definition are nepotistic
Yes,medieval banks that succeded were nepotistic like De Medici family were a banking family that married in to royalty because of their wealth and influence.
I don't see a problem with nepotism in private companies. If your family build a company they should be free to spread the wealth and power of their company how ever they want. Where it does become a problem is in SOEs.
You cannot create a perfect government with imperfect people so this goal is unattainable. Having a risk averse society will just lead to stagnation so you have to take the good with the bad and just start over periodically.
This showed me that nepotism is actually not that bad of a problem. A few people get hurt but as long as the family members are not completely incompetent, they can always hire a new person to fix it when things go really wrong.
Yup. It is why it is so hard to eradicate. As it is not always bad. In some cases family members are hired, exactly because person know that they can trust them. What is not always that easy with random selection. It become a problem only when hired family members lack skill or are complacent in breaking the law.
@@TheRezro so someone in the comments brought up South Korean companies. If the family has groomed them to lead then they are far better than any selection out there.
@@asirnewazkhan4172 Just like the kings and queens of old eh? Fancy those tens of thousands of employees depending on that family for a living want to throw the good old "Monarchy Dice" and hope for the best every generation?
I'm being targeted by 6-7 maybe more family members (keeping their links on the down low) in my company. I didn't realise the scale - but they've no talent, just bullying.
Fair to focus on examples of where this negatively impacts society. My starting point is that all of human history is based on family/kin knowledge transfer, skill specialization. Resources are survival, trust is resources, family is trust. Thus, the general phenomenon is ubiquitous in nature and responsible for human civilization.
@@dice3809yea some sort of show of force there, cant remember details anymore. constant power struggle in roman empire so these things were necessary that no challenger will try. I guess. complex many reasons why they did weird funny things.
The only real solution is too scarey to consider for average people. I dont see how this ever changes unless we remove the worst offenders permanently and make an example of them that sticks.
LTT is a nepo brand with husband and wife on top executive positions. Their only saving grace is they're not a publicly traded company, so they have no shareholders to please, for better or for worse.
also to keep in mind, families tend to have "black sheep", so being family doesnt automatically help, they can be your enemy if have so called wrong opinions.
I disagree. If I had a lot of wealth I wouldn't give it away to some random. I would give share it with family and friends. The little amount I acquired will not go to some guy who thinks he earned it
No, its ME comes first. Relatives and rest of others can f*ck off and survive on its own. I will even abandon and don't care about my future offspring - because carrying them make them weak. Might makes right.
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
Nepotism and cronyism are really underrated in the amount of damage they can do to society. Thank you for covering this issue.
you're fired m'lad
@@driesvdg8743 Thanks for proving my point!
The State I'm from, the police were just outed for this. Although they weren't hiring family but hiring and promoting officers in 'The Boys Club' their words not mine.
Technically nepotism is favoring relatives while cronyism is favoring friends.
Yup
It’s all about the analytics. Words mean what the algorithm says it means.
In the 2015-2019 portuguese government there was so much nepotism that it was a running joke.
I dont have a problem with nepotism in the private sector, its their money. The problem is with public institutions and government
Private sector still affects the employees, I guess you can look for a new job but if it’s everywhere it affects how companies are compared to foreign companies
who do you think owns the government smart guy. its not the citizens. its the rich people who then pass that power down to their families. you wont find anyone not owned by some corporation in a government position for this reason. there's never been a government in eurocentric culture that wasnt controlled by private interests full of nepotism and cronyism
I agree, public sector shows example to private side + passes laws everyone else must abide.
"BABE!! Quick get upstairs, a new 'The Researcher' video just dropped!"
Great video, as always!
Your production value went up 😎 Hopefully you start going viral soon 👍
This is a very interesting video, and it's kind of funny because my dad wants to start a company with me.
Is it nepotism to have executives and ceos only from 1 religious group? 🤔
Possible but not always the case.
Mhhhhmmmm
No because nepotism refers to relatives. Cronyism when with friends. Either advancing ones religion in leading position has already a term that we just don't know as lay persons or doesn't yet have a specific term for that scenario.
Highly gualitative video ! Great job !
Also forgot to say great video as usual brother 👍
Problem is nepotism gives advantage to those who do implement it to the expense of competence.
Thank you 😘😍🥰❤
That's it? I was getting a bit excited thinking about when you started to mention governmental nepotism; I was looking forward to some current examples; Nikki Patrushev and son came to mind.
Well, hopefully you continue this line of investigation, it seems quite interesting and eye opening.
Nice to have the data from publicly traded companies, but my favorite negative nepo stories are from privately held sports franchises wherein the original owner dies and and the family, rather than putting the management of the team into the hands people with experience, decide to run it themselves. Unfortunately in the US we don't have relagation so teams valuations don't correspond to wins. Even if individual teams do consistently poorly, if the league overall succeeds, with ever bigger licensing deals, they all make more money and the team values go up.
I have watched all your videos and appreciate the work you have put into them all, I have learned a lot.
It is a great format and George was a great choice as the voice, but above all the content is first class. I hope your home audience has learned as much as I have.
Let’s hope there can be a positive future for Russia eventually.
to be honest i'm buffled as to why he has such low subs....
@@perfectmazda3538 Me too.
This is basically how the entirely world works sadly and pretty much always has.
Also ignoring some regional things when nepotism is good. The early european banks used nepotism for a reason as the head managment of branches in other countries for a reason.
Long Island City is a neighborhood in Queens, NYC. Geographically speaking they are on the Island known as Long Island but so is Brooklyn. Long Island City is closer to Manhattan than it is to the beginning of what is considered Long Island(Nassau County).
In the UK parliament, around 1-in-7 Members of Parliament employ close family members (spouses, children) to be paid from the public purse to the tune of £3M. The practice is now banned (since 2017) but the rules only applied to new staff.
ah wasnt this how Greece got bankcrupt and IMFed.... italy has been on same route too... no wonder UK is wacko these days. it used to be somewhat decent place, as much as could be with all historical baggage, during cold war times.
I am curious if now they will employ relatives of the CEO of the campany that their children work for.
I mean now they secure a privat job and "the company"(i.e. CEO) has an easy go in-between with an themselfs and an MP who makes laws including laws on the industries their relatives work at.
@@alexandrub8786laws are secondary... more common and useful are city level roles like that... one person in city council, other in board/owner of company.... then surprise, city council gives gigs and contracts to this company. Laws are important when companies are national level. Practises, day to day decisions are more important in local level.
I mean, nepotism has often made businesses flourish and reach new heights, this is specially apparent in Japanese and Korean companies. Toyota? Neoptism. Samsung? Nepotism. Honda? Nepotism again.
Family business by definition are nepotistic
Yes,medieval banks that succeded were nepotistic like De Medici family were a banking family that married in to royalty because of their wealth and influence.
non-related employees should quit then😂
I've enjoyed the company of many wealthy people. I can't stand most of their children.
I don't see a problem with nepotism in private companies. If your family build a company they should be free to spread the wealth and power of their company how ever they want. Where it does become a problem is in SOEs.
Totally agree
I would not describe The United States of America as very democratic. It is a semi democratic nation, and that is why nepotism runs rampant.
You cannot create a perfect government with imperfect people so this goal is unattainable. Having a risk averse society will just lead to stagnation so you have to take the good with the bad and just start over periodically.
You can, if you have AI government and exterminate unfit people. Being misanthropic technophile is good.
This showed me that nepotism is actually not that bad of a problem. A few people get hurt but as long as the family members are not completely incompetent, they can always hire a new person to fix it when things go really wrong.
Yup. It is why it is so hard to eradicate. As it is not always bad. In some cases family members are hired, exactly because person know that they can trust them. What is not always that easy with random selection. It become a problem only when hired family members lack skill or are complacent in breaking the law.
@@TheRezroAgreed
@@TheRezro so someone in the comments brought up South Korean companies.
If the family has groomed them to lead then they are far better than any selection out there.
@@asirnewazkhan4172 Just like the kings and queens of old eh? Fancy those tens of thousands of employees depending on that family for a living want to throw the good old "Monarchy Dice" and hope for the best every generation?
I'm being targeted by 6-7 maybe more family members (keeping their links on the down low) in my company. I didn't realise the scale - but they've no talent, just bullying.
Sorry to hear that! Yep, that happens with family companies
Well-Done
Fair to focus on examples of where this negatively impacts society. My starting point is that all of human history is based on family/kin knowledge transfer, skill specialization. Resources are survival, trust is resources, family is trust. Thus, the general phenomenon is ubiquitous in nature and responsible for human civilization.
It is only a problem when it hurt system. Matter of the work ethic.
ah, let me remind you of roman empire and their funny history.... one dude appointed horse as consul.
@@effexonyea, but didn't he do it just to show the senate that they had no power?
@@dice3809yea some sort of show of force there, cant remember details anymore. constant power struggle in roman empire so these things were necessary that no challenger will try. I guess. complex many reasons why they did weird funny things.
@@effexon true.
This should have been about China. There nepotism is not the exception, is the norm.
Hey man, I'm doing a masters and this subject will be part of my thesis, do you mind if I translated or subtitled your video?
The only real solution is too scarey to consider for average people.
I dont see how this ever changes unless we remove the worst offenders permanently and make an example of them that sticks.
Small hats don't have a problem with this.
That's a reason why they should be removed.
Future How Money Works video:
5 Reasons Why Nepotism is a Good Thing, Actually 😂
If it's a mom and pop hardware store it's part of the brand ;-)
LTT is a nepo brand with husband and wife on top executive positions. Their only saving grace is they're not a publicly traded company, so they have no shareholders to please, for better or for worse.
non-related employees should quit then👍
Banger video, Johnny cia Harris could learn a thing or two from you
God people speak to highly about Harris. Poorly researched, sensationalized, whataboutisms, ect.
@@RichardBaran hence the Cia in the middle of his name.
James Dolan is also the owner of Madison Square Garden and several New York sport teams.
How does the US manage Ukraine, and what does corruption have to do with it?
CHECK IT OUT - ua-cam.com/video/yXwjyk7Nt3o/v-deo.html
Hirering a competent family member isn't nepotism, it's just hirering a competent person, unfortunately that's not what happens
also to keep in mind, families tend to have "black sheep", so being family doesnt automatically help, they can be your enemy if have so called wrong opinions.
I disagree. If I had a lot of wealth I wouldn't give it away to some random. I would give share it with family and friends. The little amount I acquired will not go to some guy who thinks he earned it
Your tribe comes first.
No, its ME comes first. Relatives and rest of others can f*ck off and survive on its own. I will even abandon and don't care about my future offspring - because carrying them make them weak. Might makes right.
Nepotism is good, cronyism is good, you just hate people having preference for the in group. Fear the family.
No!!! you cant safeguard your family's future! That's bad!
Yes, and? I hate kinship, because I'm a social darwinist. Every individual should survive on their own.