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That link seems to go nowhere? At least on Hack, the HN client I’m using on iOS

• dmvdoug 2y ago
  It was my comment to a different comment on this thread. I’ll repeat it here: Yes, and this somewhat recent notion that corporations only exist to benefit their shareholders. Corporations exist in order to do the business that they’re in the business of doing, and their structure is such that it allows for the distribution of risk and the possibility of profit for investors. Ideally, people would make investment decisions based on whether the business was sound. Like, yeah, this business has tons of satisfied customers, is doing relatively efficient business and makes money doing it: I’ll invest because that company is a winner. Everything now, though, is entirely judged on growth and bottom lines that are easily manipulable quarter to quarter. You’re a successful corporation if number goes up. The financialization of literally everything erodes the real purposes the corporation exists. And the mindless repetition of the line that corporations exist simply to make profits for the benefit of shareholders is bullshit. How many times have we seen companies chasing those profits in such a way as to destroy the longer-term viability/success of their business? Yeah, they made profit for the shareholder in the short term. Hurray. And destroyed the business in the longer-term. That seems to me to be pretty anti-shareholder.