Management & Organizations

Employees and Investors Have Opportunity Costs: Grand Promises Are Not Enough

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Reprint of Liu Run’s report interpretation plus Robin’s commentary (as of January 2026)

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Collected in Robin Shen’s Field Notes · Content type and attribution are shown above

English translation of the Chinese post originally published 2026-01-28. Translated 2026-11-05 with AI assistance. Historical figures and claims have not been updated or independently verified. 中文原文

Reading guide

The opening reprint discusses young workers choosing stability over promises: 61.5% earn only enough for expenses, 13.2% feel financially comfortable, and 54% primarily want to keep their jobs. Leaders need to provide security. Robin adds that everything has an opportunity cost. Founders must produce results to attract and reward talent, not rely on visions alone. How different might an excellent employee’s wealth be after ten years at the startup versus TSMC? Investors’ capital also has an opportunity cost and needs sufficient returns to compensate for early-stage risk.

Key points

  • Results, not just promises, attract and reward talent.
  • Employees have opportunity costs: consider the ten-year wealth gap.
  • Investors’ capital has opportunity costs too.
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Full text — English translation

Between ‘a grand future promise’ and ‘a job that pays today,’ young workers are choosing to hang on. Stability has become the mainstream preference. Why? Have people lost their dreams? No. Their wallets will not allow them. A report says 61.5% of workers earn only enough to meet living expenses, sometimes with pressure even then. Only 13.2% combined describe their finances as comfortable or more than sufficient. A common and much-disliked workplace phenomenon is selling grand promises. Many managers are sincere: they genuinely believe their visions, ideals, and values. Yet it still ends in empty talk and an unhappy parting. Employees think the leader is making empty promises; the leader thinks the employee lacks vision. When pay only covers rent, a mortgage, and children, and someone counts the days until payday, talking about equity in three years, an IPO in five, or industry status in ten sounds like a joke. Many leaders have spent so long in their own circles that they have lost empathy for frontline staff. They can no longer imagine that the 54% simply trying to keep their jobs need real bread today, not distant stars and oceans. When employees choose to hang on, it is not because they lack dreams. The security you provide is not sufficient to support them. #Liu Run’s Business Report Interpretation ---- Robin: ‘Everything has an opportunity cost. You cannot expect a horse to perform well while refusing to feed it. Founders cannot rely on visions, ideals, and promises alone. They must produce results to attract and reward talent. Ask yourself how an excellent employee’s wealth might differ after ten years with you versus elsewhere, such as TSMC. If they invest their youth in your dream, what do they receive, and is it worthwhile? The same applies to investors. Capital has opportunity costs. Compare money committed to you five or seven years ago with the same amount in 0050 or TSMC. What is the difference after five or seven years? Is the return sufficient to cover early-stage risk?’

These articles are personal notes, book excerpts, and collected reprints. Figures and events reflect the time of the original publication, are not current information, and do not constitute investment advice.

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