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I agree that public companies can be successful, have long-term plans, or satisfy stakeholders so evidence of success or longevity or happy customers is not a c
by asoneth 3y ago
I agree that public companies can be successful, have long-term plans, or satisfy stakeholders so evidence of success or longevity or happy customers is not a counterargument.
But think of recent decisions that Apple, Microsoft, Amazon, or Tesla have made recently. Are they generally made with the best interests of employees, customers, users, partners, developers, and regulators in mind? Or do they only satisfy those other constituencies insofar as doing so increases profits for shareholders?
Ultimately the trust and goodwill they build up is just another asset to leverage to make more money for shareholders. If tomorrow they run the numbers and conclude that the most profitable course of action is to spend down some of that goodwill and screw over employees, customers, users, partners, developers, and/or regulators in exchange for slightly higher profits then they will do that.