This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sirius XM Needs an Entrepreneur at the Helm

NEW YORK ( TheStreet) -- Steve Jobs liked to use the term "bozo explosion." It refers to hiring second-rate executives and managers -- "bozos" -- who then go on to hire more B-players. Before you know it, your organization experiences a bozo explosion.

Jobs claimed he was the only person who could prevent the bozo explosion. That's part of the reason why I am ultimately bearish on Apple (AAPL) without Steve Jobs at the helm.

It's not that guys like Tim Cook are bozos -- Jobs hired them after all -- but they're certainly closer to bozo status than he was. And they cannot prevent the bozo explosion from taking place.

I've thought a lot about the bozo explosion since I was exposed to the concept. When I consider an executive, I often think of Jobs and ask, "Would he hire this person or would he consider him or her a bozo?" Is this person an A-player?

Would Steve Jobs Hire Mel Karmazin or a SIRI Permabull?

I have little doubt that Jobs would have hired folks like Jeff Bezos, Mark Zuckerberg and Tim Westergren. Like Jobs, they're three of our time's greatest visionaries. Each man created and/or disrupted an entire industry or three. And they're not done yet.

And then there are the others who would likely pass muster with Jobs. They're people you've probably never heard of before.

Fast Company recently published a fascinating list titled "The 100 Most Creative People in Business 2012."

It includes everybody from J. C. Penney's (JCP) Ron Johnson (not sure I agree) to Starbucks' (SBUX) chief digital officer, Adam Brotman, who came up with the company's mobile payment system, to Sam Mogannam, the owner of a little San Francisco grocery store, Bi-Rite, that I used to frequent.

In the words of Mitch Joel, these people are "entrepreneurs" who are "trying to create the future that doesn't yet exist," not businesspeople who merely look to "mitigate risk and minimize mistakes."

Entrepreneurs are the ones worth your time and attention; businessperson equals bozo. At least that's what Jobs thought. He would give his time to entrepreneurs, but he had no patience for bozos.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
SIRI $3.91 0.00%
AAPL $132.54 0.00%
FB $80.54 0.00%
GOOG $540.11 0.00%
TSLA $247.73 0.00%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs