Unless you have an absolute monopoly market position you are a democratic institution where the ‘votes’ are people giving you their hard earned money in exchang

Unless you have an absolute monopoly market position you are a democratic institution where the ‘votes’ are people giving you their hard earned money in exchange for whatever you’re selling. Where things go wrong is ‘stakeholders’ (aka non-paying people/customers) demanding influence for whatever is important to them like savings baby seals or whatever. They know they can’t influence the company by ‘voting with their wallet’ so seek out other means to change the company’s direction. Like, as a totally random example, wanting voting rights to the future plans of the company as an outsider with no knowledge of internal goals and/or if the proposal would even be profitable.