Insight certainty 4/5 debate potential 2/5

Steve Madden: Non-detail-oriented founders cannot remain CEO as a business scales

Steve Madden · Steve Madden: Steve Madden · Jul 16, 2018 · at 35:38

Shoe designer Steve Madden reflects on stepping away from the CEO position at Steve Madden Shoes after his release from prison in 2005.

0:00 / 0:17exact quote · 18.0s
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“When it's, the business is small, you can kind of be the CEO. So, you know everybody, you live and breathe it, and then you could be a CEO, because you touch everything. But then a business, you know, once a business gets past a certain point, You know, it's impossible for someone like me to do that job.”

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Assertion Not checkable as stated
Madden: Stratton Oakmont ran pump-and-dumps; Steve Madden was only real company
“Well, they were totally manipulated. The stocks, they went up, and it, you know, it was a pump, it was a classic pump and dump. And only Steve Madden was a real company.”
Steve Madden Dec 23, 2019 ▶ 23:11 Steve Madden: Steve Madden (2018)
Assertion Supported
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Steve Madden Jul 16, 2018 ▶ 23:02 Steve Madden: Steve Madden
Disclosure
Madden details illegal stock flipping arrangements with Stratton Oakmont
“And I told myself that it was a gray area, you know, the trading in these stocks and the flipping, they would sell me the stocks and I would sell them back to them.”
Steve Madden Jul 16, 2018 ▶ 24:31 Steve Madden: Steve Madden
Disclosure
Madden admits he knew his Stratton Oakmont trades were illegal
“But I knew in my heart that it was illegal and it was wrong.”
Steve Madden Jul 16, 2018 ▶ 24:52 Steve Madden: Steve Madden
Assertion Not checkable as stated
Madden: His portrayal in 'The Wolf of Wall Street' was highly accurate.
“With me talking in front of the, it was very accurate.”
Steve Madden Dec 23, 2019 ▶ 22:04 Steve Madden: Steve Madden (2018)
Disclosure
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“And I told myself that it was a gray area, you know, the trading in these stocks and the flipping, they would sell me the stocks and I would sell them back to them.”
Steve Madden Dec 23, 2019 ▶ 24:40 Steve Madden: Steve Madden (2018)
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