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Seriously? If a company is publicly traded, they're legally required to prioritize shareholder value, unless they're a benefit corp or something with multiple b
by mcdonje 7mo ago
Seriously? If a company is publicly traded, they're legally required to prioritize shareholder value, unless they're a benefit corp or something with multiple bottom lines. I suppose you could call it values-driven to drive up the bottom line, but that's not normally what people mean.
- jakelazaroff 7mo agoIANAL but no, executives are not actually legally required to increase shareholder value.
- verdverm 7mo agoThey generally are aiui. Bluesky was formed as a PBC, which is basically a corporation where investors cannot sue for deralict of fiduciary duty.
- irishcoffee 7mo agohttps://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co.#Judgment https://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co.#Judgme... Allow me introduce you to the inception of enshittification
- jakelazaroff 7mo agoThe section you linked to says the decision was non-binding, and the next section includes multiple quotes disputing the idea that such a legal requirement exists.
- irishcoffee 7mo agoI suggest you do your own research on this split. You’re incorrect unfortunately.