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Animation by Josh Sherrington
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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 http://epidemicsound.com
Select footage courtesy the AP Archive
 https://www.census.gov/quickfacts/fact/table/US/SEX255218; http://newflightcharters.com/private_jet_charter_flight_pricing.htm; https://www.charterhub.com/listings/aircraft/for-charter/list/?Mdltxt=G550&Manu=GULFSTREAM&mdlx=exact; https://www.privatefly.com/us/private-jets/longrange-jet-hire/Gulfstream-G550
 http://www.corporatejetsolutions.com/PDF/Aircraft%20Comparisons/Citation%20VII%20vs.%20Hawker%20700%20vs.%20Lear%2045.pdf; https://awin.aviationweek.com/portals/awin/pdfs/BCAOpPlanningGuide/2012_Production.pdf; https://www.aopa.org/news-and-media/all-news/2015/november/16/hourly-operating-costs-of-45-jets-compared
 https://www.stratosjets.com/private-jets/bombardier-7500/; https://www.trilogyaviationgroup.com/jet/Global-7500; https://www.privatefly.com/us/private-jets/longrange-jet-hire/bombardier-global-7500
 https://www.eia.gov/environment/emissions/co2_vol_mass.php; https://data.worldbank.org/indicator/en.atm.co2e.pc
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: http://ExtremitiesPodcast.com
Jessie Matthews (19 days ago)
Your math doesn't add up mate
matt jakob (4 months ago)
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Ferdinand (6 months ago)
Right? I miss the old voice. This sounds like he's talking through a thick blanket.
Kristian Canoy (6 months ago)
Hi Wendover!! I want to request a video about how airline alliances work. (Star Alliance, SkyTeam and Oneworld)
Wubbalubba dubdub (6 months ago)
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.
Owen (16 hours ago)
Loved this video
Steve Brown (17 hours ago)
It's not so much their salary that justifies the cost of different travel methods, but it's the value of their productivity to the company that helps justify the cost of private jets.
In your example of Walmart managers, the better question to ask is what is the value to Walmart of a regional manager being able to do 400% more store visits in a year. I'd venture a guess that the value add from that perspective is a lot more than what their take home pay can justify.
Cosmopolital Challenge (18 hours ago)
Cars and private jets have one thing in common: they fuck the environment to individualize transport.
Spy Living TV (1 day ago)
As someone that used to insure these machines a few things to note... The low and mid end of corporate jets got hit but last time I checked... there is still a two year wait for a G550. And the value of used G550's actually increase because of the wait list. Another thing to note, most companies do not allow executives to fly on the same airplane. If jet goes down with 5 company executives on board, it can really hurt the company. So sometimes it's not just the lack of flights to areas but the fact that they won't allow two regional VP's to fly on the same plane. Finally, look in just about any Fortune 500 compensation data and you will see the CEO gets their salary grossed up to pay for taxes on using the Jet for personal use. It is one thing that bugs the hell out of me.
Thoreau (2 days ago)
Fk the environment, as long as I'm rich.
Cosmopolital Challenge (18 hours ago)
Then fk u
Jay blade (2 days ago)
Orrrrrrrr, now hear me out here, you could FaceTime
Tapan Das (3 days ago)
Congratulate me. I will be able to fly all over the world very soon. I'm so happy Microsoft flight simulator is releasing in 2020😂
Ricky Hansen (3 days ago)
Time is money, plain and simple.
Cory Johnson (4 days ago)
economics? sounds more like social justice warrior nonsonse.
Jeremy Bell (5 days ago)
Here to see the people who aren't worth a coach seat on Southwest cry. Also, is this a CBA on executive time or a greenp8ce schtick?
Dan Harris (5 days ago)
Can confirm. My brother in law is a Walmart semi big-wig. This is exactly how he does his monthly store visits to western regional markets.
djikan gabric (7 days ago)
TheJalipa (8 days ago)
By over paying your Executives - you too can justify a Private Jet
Clyde Dooseldorph (10 days ago)
I have flown private a lot and it comes down to this, if you can afford it do it. I think for companies it is a perk for the upper few but it's also a great tool to get into small airports and save time.
Ryan Younggreen (12 days ago)
Has nothing to do with Economics. Video should be titled "The costs of Private Jets". Much closer to accounting than economics.
DJ Sunkisst (13 days ago)
companies also do this because they have enormous profits and they’d have to pay substantial taxes on that profit. instead of paying taxes, they’d rather invest back into the business and make their business grow. they can see that they’re going to owe a lot of money in taxes...and then figure out where to put that money. and if they put that money into private jets, then it’s less taxes they they have to pay. sometimes it just makes financial sense to buy a jet.
J R (14 days ago)
Nothing is more valuable than your time
Dmac K (17 days ago)
Security alone, makes the dollar argument pointless.
Morris Rose (17 days ago)
EXCELLENT VIDEO... I've often asked that very same question... Is it really worth the enormous cost of traveling a private jet over first class in an airliner ?... Fantastic machines, though. My favourite is the Bombadier Global 7500 and... :) the Dreamliner 787-9 :) :)
Scooty789 (18 days ago)
so when is half as airworthy coming?
MWB Gaming (19 days ago)
This channel is like a bag of lays chips
Arthur Wallis (19 days ago)
I think you're over using the word Optics.
Pleb Plays (19 days ago)
6:39 finally a legit Walmart
Plus it is better than our offbrand Walmart Called Walter mart
Aviation Now (19 days ago)
5:30 not too sure that’s the north east mate
Tarek Alhussayni (19 days ago)
Let's see how he makes this about planes
Artificial Avocado (19 days ago)
These assholes better enjoy it this shit will end when progressives take over.
Thoreau (2 days ago)
Keep dreaming... you unemployable pot-head commie.
Lucas Lin (20 days ago)
This assumes the executives are just sitting in the plane twiddling their thumbs - which NEVER happens. They always have documents, pitches, emails to review even if offline.
Ellen Tani (22 days ago)
It's not Economic
betty boop (25 days ago)
What is the cost of putting 19 top executives on the same aircraft and it crashes.
Dew Time (28 days ago)
lol at climate change
Chris M (28 days ago)
Reasons to use a private jet:
1. Leave at whatever time you want.
2. Only fly with people you know. If anyone.
3. Eat food you want, when you want.
4. If you are flying from NYC to St Louis and you realise you need to do something in Detroit, quick chat with the pilots, problem solved.
5. You can use pretty much any airport you want.
6. You dont have to wait for (possibly) hundreds of other people with their screaming kids to get on and off.
7. If you get stuck in traffic on the way to the airport, the plane will wait for you.
I could probably list another 10 or 15 things but you get the idea. Its safer, easier, less stressful and, let's be honest, more fun. If I had the money I'd fly private all the time.
TheMatissV (29 days ago)
CEO's to each other: "HEY! Let's pay each other exorbitant amounts of money so we can convince people it makes economic 'sense' to fly via private jet. F climate change. F the poor, let's call it a business expense and get a tax credit!"
Ron Hunter (29 days ago)
You have to understand a private jet is by definition, private. Another is jt is much easier to get work done or meet with the other executives than on commercial. There is much more to it than what you let on. So lets say it is a 50000 dollar flight but you get a multi million dollar contract because of that trip, it not only makes financial sense, it just made money. Lots of it. And again, it is private. It buys you time and makes you time. If for business. And, it is not horrendus to the environment. Modern jets are pretty clean. It would be nice if you were to actually talk to the people who fly and use them instead of making up assumptions and coming to conclusions not based in fact. I could say this video was not good for the environment. Think of the electricity generated to make this video and to make it available, and make it possible to be viewed. Bad bad bad. Think of the time wasted watching this instead of doing something productive. Wated time because either you do not understand the economics of businesses who use them or there is an agenda at work. What about the car you drove to work? Its horrendous at best. A few co2 molecules added to the atmosphere for a waste of time. Sorry but to someone who spent over 40 years in aviation it annoys me to listen to self appointed experts spout off about thing the haven't a clue about.
Cliff Morgan (30 days ago)
Jealousy is ugly.....
Kari Ann Stickle (30 days ago)
So, this is my new absolute favorite channel. Adblock turned off for this channel. One day I will be able to afford to Support this champion channel on Patreon.
Random Name (1 month ago)
My guy needs to chill with the climate change shit, it’s never needed for the video
TheBeybladeSport (1 month ago)
Greta has committed suicide
J J (1 month ago)
We fly private prop planes, which have much different economics than jets, but with all of the benefits.
Nkanyiso Maphanga (1 month ago)
Buying a private jet is much easier and make more financial sense than to pay the fat IRS bill that these corporations get changed. That's why Walmart is happy to buy so many of them.
Suuhls (1 month ago)
And Americans be like "Why is climate change so bad???"
Nathan BB (1 month ago)
There's a lot of taxes deductions related to jets as well depending on the country its based on... would you rather buy a brand new jet or pay the exact same amount in taxes? This video is extremely superficial...
Music n Thingz (1 month ago)
It dosent make sense that you're saying someone has to make x amount of dollars for it to be worth hiring.
JRBUISEXCAVATING (1 month ago)
Is the plane landing in the parking lot of these stores? What about travel time to and from the airport?
I.P. Knightly (1 month ago)
You somehow need to factor in the human suffering of a person in Manilla that has to meet up with a planeful of Walmart executives.
Voxal Gaming (1 month ago)
8:20 - View of my home country - Poland (Vistula estuary)
Amer Dodokh (1 month ago)
But that is a 4 sectors flight. Which means that the cockpit crew won’t be able to accomplish it as their duty time is 10:30 hours for that flight.
Jeff Williams (1 month ago)
Jet costs for Walmart as a percentage of revenue is a rounding error....
Last train To Vegas (1 month ago)
Fuck the CEOs!!! All overpaid for nothing
John Kauffman (1 month ago)
06:00 - How often would 19 officers fly to Manila? 4 would be more realistic number for the denominator.
And, WalMart would allow 19 officers to fly on one small jet?
(same earlier with the example of 9 pax on a jet)
Khrashing Phantom (1 month ago)
That American CEO pay breakdown was soul crushing.
Ty Wert (1 month ago)
Same big corporations pushing Greta thunberg feces, especially in an age they can do their meetings through digital means
Datmudkipify | Gaming (1 month ago)
Private jets... used by the people who tell us *cough* Trudeau *cough* we need to pay more taxes to save the environment from ourselves. How dare we drive cars!!!
The Llama Animations (1 month ago)
I wish I had these documentary services, but I’m a frikin 12 year old with no money
Stefan Kristersson (1 month ago)
If you send your gulfstream to pick up a potential customer or partner, that meeting is almost garanteed to end well for you. The jet can also be the reason for them wanting to meet you in the first place - who can say no to a private jet ride?
Youssef Selkani (1 month ago)
If you make $1M/year 50k for a flight is a lot
A Nii (1 month ago)
Are you the guy from info graphics??? 🤔
richard bearden (1 month ago)
Walmart can just do virtual tours of their store. For all the expense for being Hands-On not much change takes place...
Sally Hillal (1 month ago)
Drastically lower CEO pay and benes . They will work for less.
София Сойко (1 month ago)
انا اعملي في محكومة دولية我工过几形事法院i work at the international court of justiceя работаб в международный суд оонyo trabajo en corte penal international
Tony Lam (1 month ago)
For your info, many esteemed scientists are telling use now , we need more co2 in the atmosphere. Plants grow better with that and that is what we eat. So maybe we should dump the jets and take steam locomotives (coal) around US everywhere and steam ships overseas.No matter how important a jet is to the bottom line, there will always be a small % of super rich who will use their jet to take their dog to the barber, and they could not care less about the critics.
Tom Hamrick (2 months ago)
You are correct if all you putting is only one exec on a plane. but if you have your two lead salesmen on the plane along with the exec and 2 or three execs from a company you are trying to cut a deal with that could be worth 2 or 3 billion over the next 10 years it is more than worth the cost.
AI Totem (2 months ago)
Who was surprised Wal-Mart had their own fleet of jets? They are cost saving when it comes to their employees wages and customers prices ONLY.
goodafy (2 months ago)
There only one reason corporate bodies buy private jets is
BECAUSE THEY CAN AFFORD IT.
Every thing else are excuses.
If they can't afford it, but Claim they need it, they still won't get it.
I work in such corporate organisations, and with technologies like Skype, zoom, gotomeeting, WhatsApp etc.
Corporate travels have been cut down to more than 90% of what it used to be, yet production and oversight have increased and money saved.
Wendover and others that still justify corporate private jet travel are same people that use it and benefit from it, who would turn down a paid private jet travel.
If it is about time saving, the bigger question is what was achieved with the saved time?
It's like the days of Concorde supersonic travel, and its true claims of time saving but other economics of Airport wait times and cost of fuel and maintenance doesn't add up.
Private jet travel is pure leisure, luxury, opulence and class that is more a distraction to serious business organisation than for productivity and efficiency.
Doggepp (2 months ago)
Whilst you touched on this, I think the biggest reason anyone flies private jet, is that you can fly whenever you want. The plane waits for you, you dont wait for the plane. Sure, the money/time factor is huge also, but time is most often more important than money/cost for these people.
Larry Smith (2 months ago)
Anybody who thinks private jets are opulent has never flown one. Or, he's a midget.
Ruby Honey (2 months ago)
EPSTEIN HAD A PRIVATE JET
AND DIDNT KILL HIMSELF
jec1ny (2 months ago)
Warren Buffet, who owns NetJets, a private plane charter service, always decried owning these kinds of planes as crazy. He said that even with top business executives, for the number of times in a year you would have a legitimate need to fly private, you are almost always better off chartering. A couple of years ago though, he bought a Bombardier Challenger 600. With a certain amount of guilt, he named it "The Indefensible."
Joshua Patrick (2 months ago)
Nice to know Walmart doesn’t want its executives to spend time away from home for one night on their 300-500k a year salary while it doesn’t seem to be willing to provide its rank employees a living wage....
WK28 (2 months ago)
ThatGuyThatDoesStuff (2 months ago)
Is the private jet taking off and landing in Walmart parking lots? I guess Walmart bought the Gulf-Harrier models.
John Smith (2 months ago)
Damn $100k a year for a manager at Walmart.
Russ Nurse2B (2 months ago)
In my opinion Wal-Mart ONLY values the time of its executives. Example: They gave the average workers a raise and then turned around and cut their hours according to what I saw on the news.
Satwik V (2 months ago)
Whoever engineers and sells an electric private jet that has a significant decrease in environmental damage is going to be a very rich man or woman...
Jim Dickson (2 months ago)
its far more efficient flying point to point in the US than catching connecting flights... you can do multiple meetings across the country in a day.
goodguygto (2 months ago)
Yeah!!, Walmart is good with money?, !!BEING STINGY!!, ripping off customers!!! Walmart still owe me $20!!!, their self check-out!!, took the money out of my debit card!!! They should be called "Asshole-Mart"!!!!!!
Wadert3 (2 months ago)
Thank you for being the first person alive to pronounce Spokane correctly
Avidcomp (2 months ago)
Private jets are not "horrendous" for the environment.
Hydrochloric Acid (7 days ago)
Compared to commercial travel, they are.
no pe (2 months ago)
not having to come in contact with the unwashed peasants is priceless for the greedy scumbag ceo's
KurJan&Urbano (2 months ago)
What about if I just want one🤔
I mean I really really really really want a Gulfstream...
Mike will (2 months ago)
This is why I bought a Cessna CJ 4, that I can fly myself. I don't need to waste time allowing TSA to fell my Ass and look at my junk in an X ray, I can leave in the morning, waving at the TSA employee in his truck, Surprise Employees when I show up and be home in time for dinner, plus being single, it's a guarantee panty drop.
Neil Zutshi (2 months ago)
Eric (2 months ago)
I love videos made by people about corporate executive decisions who clearly have never walked a day in the life of a corporate executive. If you think jet travel is simply about "economics" then you have a LOT to learn. Earlier today, I spoke to a CEO who was waiting in the airport for his flight from Newark to San Francisco. He had already racked up over 500,000 miles for the year flying commercial. His company is a smaller one - not the kind that could afford a private jet. However, his travel is much like that of any other CEO... horrendous. There comes a point where logistics matter simply for sanity. Conveniences matter even if the economics don't make sense on a spreadsheet. This is the same reason why someone who commutes long hours in a car each year may opt for plusher leather seats, a stereo upgrade, and some additional bells and whistles in their car - they're spending an enormous amount of time in their car, and while a cheaper model would make more "economic sense," there's a quality of life issue at play.
For folks who don't travel regularly for work, it often sounds luxurious. But if you climb the ladder far enough and find yourself in airports several times a week, it'll quickly go from luxurious to laborious. It's a perk to fly private, yes... but one that's partially designed to improve efficiency and partly designed to bring quality of life to people who are sacrificing a LOT of time away from home and family. If there's a way to have mom or dad home for more baseball games, plays, concerts, and birthday celebrations and less time away, then it's hard to put a price on it.
The people who look with envy on the high pay of corporate executives, along with perks like private jet travel, are also the very same people who would never dream to sacrifice so much of their personal time - not here and there, for a month, a year, or two... but for decades building their career and climbing that corporate ladder. I'm not suggesting anyone should feel bad for an executive, nor am I suggesting anyone should badly for a guy working in the mail room. Each make their choices. Each lifestyle has its benefits and drawbacks. But far more folks in the mail room seem to forget that the high pay and perks at the executive level also means giving up a good deal of their social life, personal time, and work-life balance.
Charles Einarson (2 months ago)
Freedom of movement that isn’t tied to a hub and spoke transportation system allows for more efficiency and flexibility to land in.., let’s say Bakersfield California and not Las Angeles. Add the ability to go to literally any city in the nation and not be limited to roughly 400 Major airports that provide commercial service, private air travel makes much more sense. It is all about context.
I am a low level government employee that has 13 states to manage. Private aircraft transportation makes more sense than commercial travel but because the perception is that the rich and privileged fly on private aircraft, I’m not allowed to use a charter plane or even one that I’m certified to fly myself. I am forced to fly commercially and am now restricted to their schedules and my trips are now cost prohibitive or take so much time, they won’t happen.
Please tell me how to travel to Pasco, WA, Billings, MT, Rapid City, SD, Cheyenne, WY, Anchorace, AK, Nome, AK, Lincoln NE, and the other cities I need to get to that are either not served by Delta or American Airlines or are only serviced once a day.
washingtonstromtrooper (2 months ago)
Makes me not want to work as hard for Walmart because I don't get a jet to work
Hitesh Limbani (2 months ago)
They also rent it like cabs.A private jet in need,after that a cab on call? So,own trips are always free(as cab compensate)
jay 3253 (3 months ago)
Please do this same thing with Leanardo Decaprio and his carbon footprint vs taking a commercial flight. That hypocrite has 4 jets for just him.
SK Jung (3 months ago)
nah your figuration is not that persuade. CEO doesn’t work that much. and they work through phone or meeting or doing nothing.
Rich R (3 months ago)
Did you take into account the time to and from the airport to the stores? My company has a jet and it is roughly 4.22$/mile and worth every penny. I am blessed to have been successful.
Chawn Kaw (3 months ago)
Gerald Price, CREATOR, OWNER, AND OPERATOR (3 months ago)
You are basing costs against salary instead of value add for deals made while on the trip..... which are in the 100’s of billions for WALMART THE WORLD’S LARGEST REVENUE EARNER ON PLANET EARTH PERIOD!!!!!
Gregarious Solitudinist (3 months ago)
a vice president of a company is useless and should remain at their desk. doing nothing is what they do best, let them do it all day in Bentonville.
Bob (3 months ago)
You've neglected to mention that the CEO who makes thousands per hour can work in the back of the company jet or hold meetings while enroute. Or the fact that some wealthy individuals use the a/c for a mixture of business and pleasure... because they can! Not a bad video but somewhat short of facts!
raykirkland555 (3 months ago)
well i was with him up until he started the global warming shit.
Richard (3 months ago)
In the corporate world time is money, when opportunity knocks or need arrises the early bird gets the deal done, they can always get/earn more money but they can never get time back, Bill Lear understood this. Cost of operation-fuel, maintenance, ownership etc. is written off on taxes to a large extent the rest is just the cost of doing business or of being competitive.
theboredbrowser (3 months ago)
9:00 is that Matt Guthmiller?
James Matthews (3 months ago)
During his time at HSBC in the 90’s, a family friend was involved in evaluating the business case for the company’s corporate jet.
He told me that the most important factor in his evaluation was not the economics, but rather the effect on his career if he’d have nixed it!
Ryan McGowan (3 months ago)
It isn't about the wages of the executive. It's about the profit that the CEO brings to the company. If an executive is only manages increases of $1,000,000 a year, they'd probably be fired. If they can cause just one new store to open, it paid for all the trips that year. Also, you're not including the entire team of people that are on the private jet. There is likely 3 or 4 people on that plane, so divide all those numbers by at least 2.
Mark Seifried (3 months ago)
Your comments and education for the masses is super and accurate. But; you had to ad the fact about toxic emissions. The US is the greatest country in the world. (It sounds like you want us to use horseback for travel because there will be much less pollution.) General aviation is absolutely necessary and worthwhile, even if you have a one person company. A small four passenger propeller driven aircraft can make that manager or salesman a super employee. Why would you do this? America is many times larger than it was 50 years ago and there are millions of more autos. Why not talk about these polluters in another video. Why not talk about people who want less pollution leaving their room a/c's on 68 and many of their lights and TV on for 12 hours while they are away for business all day. This wastes energy and pollutes the environment. Private aviation is a billion dollar industry in the US and around the world. So, you want to shut it down because the jet pollutes the environment. Are you going to talk about cows next? On another note; I wish that I was there when congress grilled the Detroit auto industry about their use of jets when they were asking for bailouts. I would have defended them with great conviction. (Did you know Janet Polosi has a Boeing 757 as her private jet? A much smaller jet would carry her to the west coast but this is what she uses. ) I am in the aviation idustry for 35 years.
Cavaleer Mountaineer (3 months ago)
Nice, intelligent video until you just had to stick your foot in your mouth and talk about CARBON FOOTPRINT. Guess what? ALL THE JETS IN THE WORLD COMBINED OVER THEIR ENTIRE LIFESPAN DON'T LEAVE A "CARBON FOOTPRINT" AS BIG AS ONE SEASON OF LEAVES FALLING FROM TREES, YOU FUKIN IDIOT. How do normally intelligent people FALL FOR THIS STUPIDITY? All animals create more CO2 in one day than all jets and cars in a year. TF is wrong with yall?
James Godfrey (3 months ago)
I used to work at walmart, a buddy (and 10 other employees) got fired for eating a 0.98$ taquito from the deli that was going to be thrown away. The execs flew in to Marquette Mi in their private jets to fire them. He had to write a cheque for .98$ or get charged with larceny.