How Power Escaped the Corporation and Found a Face

in Economics3 days ago

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For most of history, the firm was the story.

Companies were empires and anonymous, structured, and disciplined machines that outlived their founders.

But in today’s Silicon Valley and Wall Street, the story has flipped. The age of the company is giving way to the era of the individual.

Elon Musk, Jensen Huang, Mark Zuckerberg, Warren Buffett, and Sam Altman are not just CEOs

They are brands, markets, and ideologies. The stock price rises and falls with their moods. Their tweets move billions. Their choices reshape the economy.

What we’re seeing is not just “superstar capitalism,” as The Economist calls it—it’s superhuman capitalism, where personality now trumps institutions, and charisma replaces corporate structure.

In the modern market, belief has become a business model. Investors no longer buy into a company’s fundamentals but buy into the myth of the founder.

Take Elon Musk. Tesla’s valuation has long defied financial logic, yet few dare bet against it. His unpredictability is the brand. His defiance is the product. The company and the man have fused into a single narrative of chaos and genius.

The same is true for Nvidia’s Jensen Huang the calm, hoodie-wearing visionary who has become the spiritual leader of the AI revolution. Wall Street doesn’t just invest in Nvidia’s chips.

It invests in his conviction that he’s building the future.

And that’s the problem: when faith becomes finance, the market turns into a cult.

The twentieth century’s industrial giants—IBM, GE, and Ford- were built to survive their founders. The 21st century’s tech giants, however, seem designed to collapse without them.

The alphabet is Larry Page’s vision dressed in corporate form. Meta is Zuckerberg’s private laboratory disguised as a social network. Berkshire Hathaway is Warren Buffett’s mind made into a balance sheet.

Even when boards exist, they often serve as polite accessories to individual will.

And that makes the system fragile. Because what happens when that person fails, ages, or leaves.

It’s no coincidence that this concentration of power has emerged at the same time as the rise of AI and data monopolies. Information is power, and today, it’s being centralised in the hands of fewer people than ever before.

We talk about democracy, but our digital world increasingly resembles a monarchy. Zuckerberg governs billions of users with more reach than most governments.

Musk controls global communication channels like X (formerly Twitter), with no real oversight.

Altman stands at the intersection of ethics and AI policy, yet he answers to no electorate only to investors and ambition.

The firm, once a shield against individual recklessness, has become a stage for it.

Yes, these men are brilliant. They’ve changed industries and expanded human possibility. But genius without restraint often slides into dominion without accountability.

Markets now reward myth over merit, and personality over process. That’s how we end up in a world where tech CEOs double as global influencers, and where one bad decision or tweet can vaporise billions in market value.