4 ms·
While I'm not sure of the mechanics of a lot of what's outlined here, and I'm especially not sure about the board of directors part, I think the idea of the "be
by methehack 8y ago
While I'm not sure of the mechanics of a lot of what's outlined here, and I'm especially not sure about the board of directors part, I think the idea of the "benefit corporation" could be a real game changer.
Currently, as you probably know, the management of a public company has a fiduciary duty to maximize shareholder value. What's funny about this is that, in doing so, management may undermine every other _value_ the shareholders have -- and, in fact, is duty-and-legally-bound to do so if it increases shareholder value as measured in money.
A legal framework like this gives management a way to maximize not only shareholder value but shareholder values. Without it, there's no legal/ethical basis do so. Companies sometimes act like they're about shareholder values, and to some degree maybe even meekly are, but, without a legal basis like this, that 's all marketing, in essence.
I've always thought it was amazing that we create these institutions (companies) that don't represent any of the values of the people in them. It's as if we've played a trick on our humanity by given it to an institution that itself isn't human nor values anything humans value despite being made up entirely of humans.