3 ms·
This "for profit" thing seems like the wrong framing. Customer goodwill and community are extremely valuable. It seems like what we are looking at is more about
by harpiaharpyja 3y ago
This "for profit" thing seems like the wrong framing. Customer goodwill and community are extremely valuable. It seems like what we are looking at is more about short-termism and the distortive effects of suddenly (post-IPO) having to report to investors who are essentially outsiders to the business and have no knowledge or stake in the operation-as-an-entity-in-a-larger-ecosystem other than having dumped a bunch of money into it.
Sure, you can argue that said investors are treating the business as nothing but a vehicle "for profit", but that framing loses something essential. You can have profit and be a player in something mutually beneficial. In fact you need profit to be sustainable.
- finite_depth 3y ago[dead]
- andrewflnr 3y agoYep, it's not profit motive that's the problem, but short term profit above all else, including long term profit. Because in the long term, whoever is making the decision will already be gone.
- willis936 3y agoI wonder how the investors are feeling about their decisions.
- andrewflnr 3y agoThey feel bad about the individual losses, but haven't noticed their role in the pattern yet.