What are these decades? Is that something longer than next quarter?

there would be a hole as executives and managers move out of the company.

And why would those executives and managers care about that? They just need to make sure they time their departures to be early enough that those holes don’t impact the share prices. Welcome to modern capitalism where the C suites only goal is to make sure they deploy their golden parachute while the company still has enough cash left over to pay them.

That sounds like someone else’s problem.

I think those in charge often don’t care. A lot of them don’t actually have any incentive for long term performance. They just need a short/medium term stock performance and later they can sell. Heck, they’ll even get cash bonuses based solely on short term performance. Many C-secs aren’t in for the long haul. They’ll stay for maybe 5-10 years tops and then switch jobs, possibly when they see the writing on the wall.

Even the owners are often hoping to just survive until some bigger company buys their business.

And when the company does explode… They’ll just declare bankruptcy and later make a new company. The kinds of people who created companies rarely do it just once. They do it over and over, somehow managing to convince investors every time.

And?

It it makes you feel better the alternative can be much worse:

People are promoted to their level of incompetence. Sure she is a terrible manager but she was the best at sales and is most senior. Let’s have her check to make sure everyone filled out expense reports instead of selling.

You don’t get the knowledge sharing that comes from people moving around. The rival spent a decade of painful trial and error to settle on a new approach, but you have no idea so you are going to reinvent this wheel.

People who do well on open-ended creative tasks are not able to do as they failed to rise above repetitive procedural tasks. Getting started in the mailroom sounds romantic but maybe not the best place to learn tax law.

The tech and corporate and general operational knowledge drifts further and further away from the rest of the industry. Eventually everyone is on ancient IT systems that sap (yes pun intended) efficiency. Parts and software break that it is hard to replace. And eventually the very systems that were meant to make things easier become burdens.

For us humans there really is no alternative to work and thinking is the hardest work of all. You need to consistently reevaluate what the situation calls for and any kinda rigid rule system of promotion and internal training won’t perform as well.

It’s a Tragedy Of The Commons situation: each market actor expects to get the benefits of automating away entry level jobs and expects it’s going to be somebody else who keeps on training people through their junior career years so that mid and senior level professionals are available in the job market.

Since most market actors have those expectations and even those who don’t are pressured by market pressures to do the same (as paying for junior positions makes them less competitive than those who automate that work, so they’re forced to do the same), the tragedy part will eventually ensue once that “field” has kept being overgrazed for long enough.