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No one is claiming that the law that corporation are required to try to maximize shareholder value is the same thing as requiring companies to do bad things. S
by yequalsx 16y ago
No one is claiming that the law that corporation are required to try to maximize shareholder value is the same thing as requiring companies to do bad things. Some people, me included, are saying that there are unintended consequences with this law and that some companies do bad things in an effort to maximize profit (increase shareholder value).
Pointing out that companies doing bad things is not the same thing as legally requiring them to do bad things is a red herring. It's not germane to the discussion at hand.
- jamesaguilar 16y agoOn the contrary, the claim in the original post is exactly that Google must do bad things because of some unnamed law that corporations must maximize shareholder value. Specifically: "So, of course Google and Facebook have to erode the concept of online privacy [i.e. do bad things]. That is their product and that is the value that they are legally bound to maximize [i.e. the reason they must do bad things is because they are legally required to]." That is what I was responding to when you responded to me. Since you are so mistaken about what exactly the discussion at hand is, I don't know how you can claim to know what is germane to it.