For context, it was a talk on HR policies. He retired at 40 after investing in real estate, then went back to work running companies, but was no longer solely motivated by compensation or the threat of being fired.

He did call managers "donkeys with sticks", though. Just because they manage, as long as their motivation is solely tied to compensation, they're still no better.

A COO is an "officer-employee", distinct from a regular unqualified "employee."

So you are saying a COO is an officer-Donkey? :)

But to go back to the parent post, what the COO said "If they weren't donkeys they'd be running their own business."

Maybe some COOs run small businesses they started where they call the all shots. But most big company COOs have a lot of obligations and have a different carrot and stick for the C-Suite. And a lot of them didn't start the business where they became the COO. So, yes, still Donkeys.

The COO never said they weren't a donkey

It's donkeys all the way down.