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I hate that HN allows downvotes for disagreement rather than off-topic or non-sensical commenting. You make a good point. I'm reminded of the movie Avatar, "the
by stuff4ben 6y ago
I hate that HN allows downvotes for disagreement rather than off-topic or non-sensical commenting. You make a good point. I'm reminded of the movie Avatar, "there’s one thing that shareholders hate more than bad press, and that’s a bad quarterly statement."
- scrollbar 6y agoI'd imagine the downvotes are because it's a factually inaccurate statement (as I understand it). Duty to maximize profits is a myth, which I think I first heard about here on HN! https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareholders/corporations-dont-have-to-maximize-profits https://www.nytimes.com/roomfordebate/2015/04/16/what-are-co...
- gigatexal 6y agoOh dang I stand corrected. My statement could remove the fiduciary part and replace it with human nature and remain correct I think. It’s a basis of economics that the firm seeks to maximize profits where feasible.