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> This secrecy offends one of the central premises of American corporate law: the idea that, because corporations are an exercise of public authority, the publi
by belval 3y ago
> This secrecy offends one of the central premises of American corporate law: the idea that, because corporations are an exercise of public authority, the public is entitled to know what they’re up to.
This seems like a leap or a very biased interpretation to me unless they are implying fraudulent bookkeeping. Amazon shares their revenue breakdown by division and are not required to disclose their margins on sub-divisions? Where would the line be, should they share their margins on every AWS product, some of which might be unprofitable?
I fail to see how this protects the public. Sue Amazon for monopolistic behaviour if you want, but the idea that getting sued should result in publishing internal financial information into the public record seems exceedingly disruptive.