Jamie Dimon runs JPMorgan’s 300,000 employees—but says it beats rivals by fighting in Navy SEAL-sized teams

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Jamie Dimon, CEO of JPMorgan Chase, advocates in his annual shareholder letter that small, dedicated teams are more effective than large groups for solving complex problems. With over 300,000 employees worldwide, the bank encourages teams to operate on the Navy SEAL model with full decision-making autonomy. Scientific studies, including research by Max Ringelmann in the 19th century and Bibb Latané in 1979, support this theory by showing that individual effort decreases as group size increases, a phenomenon known as social loafing. Other major companies have adopted similar approaches, such as Amazon with its « two pizzas » rule or Meta which laid off thousands of employees in 2023 to accelerate processes. In the AI sector, some startups are now generating over one million dollars per month with fewer than twenty people.

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