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This is a consequence of publicly listed companies. They can't just go and eliminate a giant revenue stream because it would be morally right to do so. They ne
by quitit 1y ago
This is a consequence of publicly listed companies.
They can't just go and eliminate a giant revenue stream because it would be morally right to do so. They need a court or a law to force them to do it, otherwise the board will be removed from their position for people who will maintain that revenue stream.
- conductr 1y agoNot just that, the demand for growth and improving quarter over quarter results require they continue to expand those revenue streams. Enshittification is a result of inertia.
- burnte 1y agoThey actually can. Fiduciary responsibility does not mean you can only do the most profitable thing and nothing else. You just need leaders willing to do it and a board to agree. Boards and officers are given wide latitude to do what's right, and shareholder suits have a really high bar to pass to prove officers or the board were really wrong. The idea that public corps MUST do everything possible to make a penny is a myth perpetuated by the people who run those large corps and WANT to be evil because it's the most profitable path for them.