3 ms·
This is because now corporate finance leads those companies, and its strategy is usually focused towards moving the numbers in the way investors read them (SOX
by dakial1 4y ago
This is because now corporate finance leads those companies, and its strategy is usually focused towards moving the numbers in the way investors read them (SOX rules for Earnings Report) and using all the tricks in the book to pass some short term sensation on improvement, which result in the carrot they are all after. The bonus.
Amazon had the no profit strategy because Bezos had ideals and as the Czar of the place, finance would not convince him to change strategy (But I bet they tried, must have been a fund meeting to watch). Now he is worried about his yacht and pet projects, so he let finance rule the place for the benefit of his stock price.
Same with Google. L&S don't have their ideals anymore and just want their money protected. Finance has this covered. There is no care for the brand nor its other stakeholders anymore.
They basically became another IBM, Microsoft, etc...