4 ms·
> I think there's an assumption that generally a good company: "treats their customers with decency and respect." I disagree. Companies' are top-down in nature
by badpun 8y ago
> I think there's an assumption that generally a good company: "treats their customers with decency and respect."
I disagree. Companies' are top-down in nature, so their values are set by their owners. Large companies are almost always owned by a multitide of entities (investors) that do not care about anything else than profits. In such case, maximizing profits is the only true value, and whatever else they might say is smokescreen.
On the other hand, if the company has a single person or a small number of people in charge, then, depending on the values of these people, company can care about other things than profit. However, large companies controlled by individuals and not mobs of investors are rare.
To summurize, the stock market is a mixed bag for me. It improves allocation of capital, but it also creates the disconnect between owners and their companies which makes the companies greedy and egotistical.
- hhs 8y agoThanks for the explanation. Interesting perspective. I'm finding that certain customer tribes over time get turned off by the point that "maximizing profits is the only true value, and whatever else they might say is smokescreen." This reminds me of the typical social media company (e.g., Facebook). Certain 'customers' have turned cynical because of the company's aim to maximize profits. I wonder what it's going to do to their brand value/personality in the long term?
- swagasaurus-rex 8y agoFacebook never once cared about its users; they are not and never have been the customers. Facebook's name being dragged through the mud isn't too surprising if you follow the attitude that Zuckerberg was shamelessly open about since the inception of the company.
- badpun 8y agoIt sure is making companies lose customers - the play is to be a dick, but only when the profits from it exceed the losses from disgruntled customers. Unfortunately I think at this point the customers are used to being routinely maltreated, so they don't turn their back on the terrible companies even in cases of blatant abuse (ex. a year after the VW scandal, their car had record sales in my country).