3 ms·

All companies do things for profit, that's their primary raison d'être.

Rygian 6y ago
In this case, "profit" being an accurate euphemism for "avoid GDPR fines".
Fnoord 6y ago
Keeping customers satisfied leads to a good name. A good name leads to more customers, and both that and satisfied customers leads to long term profit. It appears some companies focus too much on short term profit.
- dontcarethrow2 6y ago
  In this case shareholders and investors are the main customers, with short term profits keeping them happy, execs get good bonuses, more money is poured in from market/vc to keep the gravy flowing. No incentive for the deicision makers to keep the product users(sometimes called just the products) happy, for the giants atleast.
  - Fnoord 6y ago
    An accurate description of the toxicity of publicly owned companies, accelerated by VC and startup culture. In this case, users are both product and paying customer. Ads is one thing, but GDPR request showed they log every action related to the account.
    - marcinzm 6y ago
      >Ads is one thing, but GDPR request showed they log every action related to the account. People praise Spotify for how good their recommendations are, where do you think they get data for things like that?
  - Retric 6y ago
    Execs might get good bonuses in the short term, but may be left in the lurch over time. Global wealth and population has been rapidly increasing for a long time which has propped up a lot of terrible decisions.
nicoburns 6y ago
Some people eat to live and some people live to eat. And it is the same with companies. Some companies carry out their business in order to profit from it, and some companies generate profits in order to sustain their business.
- colinmhayes 6y ago
  Maybe for private companies, but public companies sole purpose is to generate profit. If they are not doing it to the best of their ability shareholders will replace the executive team.
  - nicoburns 6y ago
    And this is why I think public companies are a terrible model.
  - klyrs 6y ago
    This is a myth. Stop perpetuating it. https://www.lawschool.cornell.edu/academics/clarke_business_law_institute/corporations-and-society/Common-Misunderstandings-About-Corporations.cfm https://www.lawschool.cornell.edu/academics/clarke_business_...
    - colinmhayes 6y ago
      >Usually maximizing shareholder value is not a legal obligation, but the product of the pressure that activist shareholders, stock-based compensation schemes and financial markets impose on corporate directors. Your link agrees with me. If shareholders believe decisions are being made which lead to less profits leadership will be removed.
      - klyrs 6y ago
        Your conclusion that the "sole purpose" is profit is erroneous. See sibling comment regarding Ben & Jerry's, for example.
  - sbuttgereit 6y ago

In this case, "profit" being an accurate euphemism for "avoid GDPR fines".

Keeping customers satisfied leads to a good name. A good name leads to more customers, and both that and satisfied customers leads to long term profit. It appears some companies focus too much on short term profit.

dontcarethrow2 6y ago
In this case shareholders and investors are the main customers, with short term profits keeping them happy, execs get good bonuses, more money is poured in from market/vc to keep the gravy flowing. No incentive for the deicision makers to keep the product users(sometimes called just the products) happy, for the giants atleast.
- Fnoord 6y ago
  An accurate description of the toxicity of publicly owned companies, accelerated by VC and startup culture. In this case, users are both product and paying customer. Ads is one thing, but GDPR request showed they log every action related to the account.
  - marcinzm 6y ago
    >Ads is one thing, but GDPR request showed they log every action related to the account. People praise Spotify for how good their recommendations are, where do you think they get data for things like that?
- Retric 6y ago
  Execs might get good bonuses in the short term, but may be left in the lurch over time. Global wealth and population has been rapidly increasing for a long time which has propped up a lot of terrible decisions.

nicoburns 6y ago

Some people eat to live and some people live to eat. And it is the same with companies. Some companies carry out their business in order to profit from it, and some companies generate profits in order to sustain their business.

colinmhayes 6y ago
Maybe for private companies, but public companies sole purpose is to generate profit. If they are not doing it to the best of their ability shareholders will replace the executive team.
- nicoburns 6y ago
  And this is why I think public companies are a terrible model.
- klyrs 6y ago
  This is a myth. Stop perpetuating it. https://www.lawschool.cornell.edu/academics/clarke_business_law_institute/corporations-and-society/Common-Misunderstandings-About-Corporations.cfm https://www.lawschool.cornell.edu/academics/clarke_business_...
  - colinmhayes 6y ago
    >Usually maximizing shareholder value is not a legal obligation, but the product of the pressure that activist shareholders, stock-based compensation schemes and financial markets impose on corporate directors. Your link agrees with me. If shareholders believe decisions are being made which lead to less profits leadership will be removed.
    - klyrs 6y ago
      Your conclusion that the "sole purpose" is profit is erroneous. See sibling comment regarding Ben & Jerry's, for example.
- sbuttgereit 6y ago