The Economics of Private Jets
9:49
1,827,837
Wendover Productions
Reddit
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Animation by Josh Sherrington
Sound by Graham Haerther (www.Haerther.net)
Thumbnail by Simon Buckmaster
Special thanks to Patreon supporters Adam Chelminski, Arkadiy Kulev, Charles Zilinski, Chris Allen, Connor J Smith, Daddy Donald, Etienne Dechamps, Eyal Matsliah, Hank Green, John & Becki Johnston, Kyle, MyNameIsKir, Plinio Correa, Qui Le, Remi_Scarlet, Tom Dooner, Tyler Hamm, and Vaughn Mudrick
Music by epidemicsound.com
Select footage courtesy the AP Archive
References:
[1] www.census.gov/quickfacts/fact/table/US/SEX255218; newflightcharters.com/private_jet_charter_flight_pricing.htm; www.charterhub.com/listings/aircraft/for-charter/list/?Mdltxt=G550&Manu=GULFSTREAM&mdlx=exact; www.privatefly.com/us/private-jets/longrange-jet-hire/Gulfstream-G550
[2] hbr.org/2018/07/the-leaders-calendar#what-do-ceos-actually-do
[3] www.epi.org/files/pdf/130354.pdf
[4] www.bloomberg.com/opinion/articles/2017-10-31/in-defense-of-corporate-aircraft-no-really
[5] www.linkedin.com/pulse/tesco-wal-mart-private-jets-fabrizio-poli/
[6] uk.flightaware.com/resources/registration/N455DG
[7] www.corporatejetsolutions.com/PDF/Aircraft%20Comparisons/Citation%20VII%20vs.%20Hawker%20700%20vs.%20Lear%2045.pdf; awin.aviationweek.com/portals/awin/pdfs/BCAOpPlanningGuide/2012_Production.pdf; www.aopa.org/news-and-media/all-news/2015/november/16/hourly-operating-costs-of-45-jets-compared
[8] www.symmetry.com/resources/payroll-news/2017/11/13/how-many-working-days-are-in-a-year
[9] corporate.walmart.com/media-library/document/2019-environmental-social-governance-report/_proxyDocument?id=0000016a-9485-d766-abfb-fd8d84300000&mod=article_inline
[10] www.stratosjets.com/private-jets/bombardier-7500/; www.trilogyaviationgroup.com/jet/Global-7500; www.privatefly.com/us/private-jets/longrange-jet-hire/bombardier-global-7500
[11] www.economist.com/business/2012/04/14/winging-it
[12] www.eia.gov/environment/emissions/co2_vol_mass.php; data.worldbank.org/indicator/en.atm.co2e.pc
[13] www.economist.com/business/2017/02/16/why-bosses-are-flying-more-for-play-not-work
[14] papers.ssrn.com/sol3/papers.cfm?abstract_id=529822

NHẬN XÉT
  • Wendover Productions
    Wendover Productions

    If you missed all the different announcements, I started a new podcast called Extremities about a month ago. It's all about how and why the world's most isolated human settlements exist, with the first season being on Pitcairn--the 50 person British territory in the South Pacific. You can listen to the podcast here: ExtremitiesPodcast.com

    • Ferdinand
      Ferdinand

      @Tiogshi Laj Right? I miss the old voice. This sounds like he's talking through a thick blanket.

    • Kristian Canoy
      Kristian Canoy

      Hi Wendover!! I want to request a video about how airline alliances work. (Star Alliance, SkyTeam and Oneworld)

    • Wubbalubba dubdub
      Wubbalubba dubdub

      you could also make a video/podcast about tahiti. our company is shipping a package there from europe for 7€ with dhl, even though it's on the other side of the world from us. the french goverment seems to subsidise shipping cost to french polynesia.

    • Scooters Videos
      Scooters Videos

      what this proves is that the rich are @$$raping us and that not paying at least $15 an hour is an outrage deserving of tar and feathers.

    • Everything about Romania
      Everything about Romania

      When will we be getting the next episode?

  • Lauren Conrad
    Lauren Conrad

    So Walmart executives get private jets while their associates apply for food stamps? That is messed up, no matter how you crunch the numbers.

  • Spidonix
    Spidonix

    The world's best-selling jet is the 8 seater Cessna Citation XLS

  • Spidonix
    Spidonix

    You didn’t count on delays which does happen on private jet

  • Zaid Habash
    Zaid Habash

    This video shows how dumb Walmart can be, I mean why don't they hire more management crew that don't need so that they don't need private jets to travel and since they are on a lower scale than these vice presidents they'll get paid a lot less

  • Michael Red Sox
    Michael Red Sox

    With that amount of CO2 footprint, I'd say shoot down every private jet in the world.

  • Joe Campbell
    Joe Campbell

    Right up there with Al Gore's $30,000 utilitiy bills. YOU all need to make sacrifices and change, not us.

  • Luke Thighwalker
    Luke Thighwalker

    8:32 which firms?

  • Luke Thighwalker
    Luke Thighwalker

    No CEO is worth $24M per year.

  • Phil Pan
    Phil Pan

    That's the problem with our world; we measure the value of things by using a fictitious metric; the "hourly wage" of a CEO.

  • Yonatan Kanosh
    Yonatan Kanosh

    Elon Musk, you own a jet. How can someone like you put up with this carbon footprint? ELECTRIFY!!!! Also hydrogen fuel is nice

  • Zero Dawn
    Zero Dawn

    Carboon footprint = Marketing Scam.

  • Kyle Fitzpatrick
    Kyle Fitzpatrick

    Amazing that the CEO makes 24 M a year when Walmarts employees are so poorly paid that the American tax payers spend over a billion on subsidies to support their employees

  • John Holton
    John Holton

    I don't think huge corporations do the cost analysis of every hour of their CEO's day. It's kind of a results thing, would you want to live in a world where a CEO get micromanaged? No escape.

  • Sauga Verse
    Sauga Verse

    I used to fly to work on a private jet every week. Leave on Monday morning, return home on Friday afternoon. However, our particular jet had 7 seats, and they were always full. Very rarely were there any executives on the flights, it was mostly for us average workers. The perks were great, you only had to arrive at the airport 5 minutes before the flight took off. No waiting, no security, no customs, free booze, this is how all flying should be. I'm sure it was expensive, but a private jet is a great way to travel.

  • esuus
    esuus

    THANK YOU for pointing out the carbon footprint. Please keep it up!

  • lisa dodd
    lisa dodd

    HE SAID SPOKANE RIGHT YOU GET A LIKE SIR

  • NKT authentic
    NKT authentic

    Please also make.. The Economics of... 1. Star hotels 2. Cruise liners and 3. Oil refinary companies

  • Divide By Zero
    Divide By Zero

    I don't think the Regional Vice President has visited my local Walmart recently...

  • Florin Pappa
    Florin Pappa

    MiMiMi you can always make sense of flying private and you'd fly private too if you could 100%, anyways still a great video with great efforts and the 1.7mio views would have definitely paid for the next charter.

  • Edmond Dantes
    Edmond Dantes

    Carbon Footprint...................Right.

  • GoneBamboo
    GoneBamboo

    Great for flying young'ns to your private island

  • GoneBamboo
    GoneBamboo

    Makes sense if your flying underage girls with heads of state

  • Moe Saad
    Moe Saad

    Man I love all your airplane videos. Keep em coming and thank you!

  • Ocotillodavid
    Ocotillodavid

    I worked for a company that sold private/corporate jets, and the fat cat bastards who ride in them have egos bigger than the price of their jets. They all need to humble up.

  • Zion Zawko
    Zion Zawko

    Walmart doesn’t fly out of Bentonville (XNA) they fly out of Rogers at Walmart Aviation center and they only fly in to private airports near Walmart are not near big airport! If they are there is very few

  • benlovestorock
    benlovestorock

    And the minimum wage in USA is ?

    • Klobi for President
      Klobi for President

      $7.25 an hour.

  • Pat W
    Pat W

    Got to know for a good future

  • ali rk 12345
    ali rk 12345

    It's not all about money it's about time in private jet tou can fly anytime you want

  • Kevin McGushion
    Kevin McGushion

    Something you completely overlook is the value someones time is to the company. Let's say I have a VP making $500K per year who closes my deals and I have a factory that needs $100 million a year to stay operational. Anything after $100 million is profit so I want those deals closed as fast as possible and before anyone can compete with me. It is well worth the money to have the VP take a jet and close as many $2 to $5 million dollar deals as possible as quickly as possible, before the competition. the cost of a private jet is inconsequential. The bigger the company and the bigger the deal the more this makes sense. Jeff Bezos' time on a jet isn't equal to his hourly wage multiplied by air time. Jeff's time is worth the $2 billion deal he will close in that trip.

  • Joe Om
    Joe Om

    One of the biggest clues here is that the rich do is the budgeting is down to the “t”. Avg people do not ever plan their lives in that way so its always chaotic shooting from the hip every time they make a decision and sometimes even taking days to make one.

  • Thomas Walton
    Thomas Walton

    Ever heard of a Skype call? It's a great way to reduce having to travel....at all... you would only have to travel occasionally

  • ADITYA SANTHOSH
    ADITYA SANTHOSH

    Y ur voice deep??

  • Felix Murithi
    Felix Murithi

    The calculations on value for money are bullshit

  • Hoyt Benson
    Hoyt Benson

    Hey Sam! I’ve got a vid request! Could you potentially do a video on airport emergency services? Great video, by the way!

  • yaimavol
    yaimavol

    Show me a climate change conference where anybody flew commercial. When your last name is Clinton or Obama, you are beyond flying commercial, even if it's first class. Then again, both of them command their own "charitable foundations" that pay for it all.

  • seeyouspacecowboy14
    seeyouspacecowboy14

    Maybe .... Just maybe you hire people and live in the city or near the city in which your company is located in I mean I understand working in nyc and take a train out to long island, but do you really need to fly hours to work daily .... just move to the state

  • Owen Bondar
    Owen Bondar

    time is money

  • marymarluis
    marymarluis

    Can you talk about economic disaster of AIRBUS A-380????

    • ZK-APA
      ZK-APA

      marymarluis he’s made a similar video. Economies of big planes vs small planes

  • Inyalabudbud Punjabbidaliwad
    Inyalabudbud Punjabbidaliwad

    Nothing the rich people do can be justified. Why fly First Class when the Economy folks get there at the exact same time? Why buy a Mercedes, when a Hyundai is acceptable? Why eat at the Four Seasons instead of Burger King? OWhen you are rich you become a superior creature who believes in his own hubris.

    • ZK-APA
      ZK-APA

      Inyalabudbud Punjabbidaliwad I know it sounds dodgy, but simple answer is that the more you have, the more you’ll spend. And money is made for spending. Yes, investing and all is a better proposition, but if you are struggling in living your life, just so that you have more money, you are doing it wrong. People fly first class because they want to fly it and they can fly it. People buy Mercs because they want a merc and they can afford to buy it.

  • Mayank Bansal
    Mayank Bansal

    Hey!! It's great to see your video is working well. Get it better by adding closed captions in English. Contact me for the service via email on themayankbansal@gmail.com. Thanks. ALL THE BEST. Keep Growing.

  • A-Bloke-Named-Chris
    A-Bloke-Named-Chris

    8:39 wonder what those two are talking about

  • Joshua C.
    Joshua C.

    I'm confused by the opening. I thought that the jet wouldn't leave NY state at the year's income of an average American.

  • chepe263
    chepe263

    are you the same guy from "Half as Interesting"?

  • MrSensitiveNipples
    MrSensitiveNipples

    In as simple terms as possible: time is money.

  • Are you Serious
    Are you Serious

    Wouldn’t it be cheaper to just drive from New York to Beijing? Psh stupid asses

  • Waseem Yusuf
    Waseem Yusuf

    HOW DOES HE KNOW SO MUCH? Edit: nvm, just realized that the tiny number on the bottom left points to the source of the information in the links in the description.

  • Dnl k
    Dnl k

    If I had all the money... I have one please. I can't stand being scanned by immigration all the time and queuing forever and delays.

  • Robin Eldred
    Robin Eldred

    Your math is waaay off, dude.

  • Haroon khurram
    Haroon khurram

    celebrities use them the most

  • Notmiuser
    Notmiuser

    I'm too poor to watch this video.

  • Blame USA
    Blame USA

    Private jet is best because they steal all our money and change our countries!

  • BASE Kyle
    BASE Kyle

    OPPALENCE. YOU. OWN. EVERYTHAANG

  • Justin Jones
    Justin Jones

    I live in Bentonville, GO WALMART!

  • Les Gasl
    Les Gasl

    I’ve been waiting on this

  • William Lau
    William Lau

    I have news for Walmart, it's not worth flying their VPs to the stories like this. Of the dozens of Walmarts I have been to, none of them is that well ran... Maybe their should have their VPs spend more times at the store instead of an 1-2hr flyby.

  • LucasBrien
    LucasBrien

    I’m 16 and I wash a private jet every once and a while (private jet owners pay very well). The company that owns it has one jet that seats 7, they have 5 pilots with 3 on call at all times, and they fly about twice per day. I don’t think costs are in mind, I think they use the private jets as a sort of benefit.

  • ExpatMoe
    ExpatMoe

    The salary of a CEO may be a big factor but more important must be the expected value that the CEO generates. With a 15 million salary, should probably be 100+ million in cost savings / new business/ acquisitions etc. I worked for a company once where the CEO hardly dropped in with the corporate jet unless a 10+ million deal was on the table. Then those saved hours makes sense. If a CEO flies around just to shake some hands in stores then obviously a waste. But hopefully/more likely it’s part of a continuous review on how to make a very large business grow and become more profitable

  • SolamenteVees
    SolamenteVees

    "I keeps a private Jet!"

  • Rosa I Guess
    Rosa I Guess

    Private jets are also good for going to international waters and private islands with guests of all ages

  • Anders Blomquist
    Anders Blomquist

    By using Skype the travelling time would be 0.

  • kamikaze GOD on fire
    kamikaze GOD on fire

    Aahaaa

  • fladave99 Mills
    fladave99 Mills

    Private jets keep people away from the MUSLIM JIHAAD!!!

  • Groovy Games
    Groovy Games

    Why do you sound different?

  • christian legaspi
    christian legaspi

    Make a video about what happens if a baby is born on an airplane

  • Rubik
    Rubik

    nowadays there is no need for flights - business can be done online remotely easily!

  • Jake
    Jake

    PEASANTS.

  • Carl Senden
    Carl Senden

    Most people could do their business via email and Skype. No need to be there in person.

  • Vadim Propeleyentev
    Vadim Propeleyentev

    I love the way they look personally

  • Stuart Conner
    Stuart Conner

    The execs don't care about how un-economic it is, they demand the opulence and status it signals. screw the shareholder.

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