That's probably of Graham's worst essays. Nobody is talking about removing all rewards. The question is how much reward is needed. Did CEOs do a worse job when they made 20 times the average worker income or would Zuckerberg do anything differently if he had made $500 million instead of 20 billion? What was his risk? Wasting a few years of his life? Plenty of small business owners go under after years of work and have nothing left. Silicon Valley founders don't take an extraordinary risk.