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The point is that there’s no law that says companies must maximize profit at the expense of everything else. The fiduciary duty is to be responsible with shareh
by macintux 4y ago
The point is that there’s no law that says companies must maximize profit at the expense of everything else. The fiduciary duty is to be responsible with shareholder’s money, not to maximize return on investment.
- verall 4y agoIt doesn't matter if it is the law or not if Amazon is made up of a large group of managers with competing interests that all boil to maximizing profit in order to meet their individual key goals. The GP said nothing about it being the law, simply that it is how Amazon, as a giant megacorporation, acts in practice.
- otikik 4y agoIt does matter because assuming it as a matter-of-fact prevents discussing or even conceiving alternatives. It prevents you from asking: What should the companies fiduciary duty be? (Perhaps respecting the law and not busting unions?)