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I wrote a long rant in response to this but decided to spare you and instead just say this: Shareholder capitalism has fucked up the minds of so many people (e
by null0pointer 2y ago
I wrote a long rant in response to this but decided to spare you and instead just say this:
Shareholder capitalism has fucked up the minds of so many people (especially Americans) where they think the purpose of a company is to extract maximum value for the shareholders. Sorry, no. The purpose of a company is to either a) fulfill their mission to the best of their ability (which is never “maximize shareholder value”), or b) provide quality goods/services at a fair price.
- riku_iki 2y ago> The purpose of a company is why do you think you have authority for such declaration?
- null0pointer 2y agoI don’t need to. They tell you their purpose in their mission statement.
- riku_iki 2y agoAnd why do you think that mission is higher priority than shareholders interests? Do they even have any legal obligations to follow that mission?
- erik_seaberg 2y agoI would think they have to keep the commitments in the charter, and only the board can propose changes for shareholders to vote on (because they own it all).
- deleted 2y ago[deleted]