4 ms·

It’s not really, companies like GM used to boast about how well they treated their employees and communities. It was Jack Welch and a legion of like-minded arse

It’s not really, companies like GM used to boast about how well they treated their employees and communities. It was Jack Welch and a legion of like-minded arseholes who decided they should be increasingly richer no matter who or what paid for it.

dboreham 6mo ago
See also HP. Pretty much only Costco left.
- chrisweekly 6mo ago
  This is where PBCs (Public Benefit Companies) and B-Corps may have a role to play. Something like that seems necessary to enable both (A) sufficient profitability to support innovation and viability in a capitalist society and (B) consideration of the public good. Traditional public companies aren't just disincentivized from caring about externalities, they're legally required to maximize shareholder profits, full stop. Which IMHO is a big part of the reason companies ~always become "evil".
  - mattkevan 6mo ago
    The company I currently work for is both a B-Corp and an employee-owned trust. The difference in culture, attitude and behaviour to the previous place I worked at, which only cared about quarterly results is stark.
- devmor 6mo ago
  Costco is such a strange and stark case standing in opposition to this general rule. From everything I hear, I can only gather that the reason is because of extremely experienced and level-headed executive staff.
renticulous 6mo ago
Middle class productive population produces commons goods and resources which gets exploited by Elites. Tragedy of the Commons applied to wealth generation process itself.
tehjoker 6mo ago
The previous deal was due to (a) a lower level of development of capitalism (b) a higher profit margin that collapsed in the 70s (c) a communist movement that threatened capital into behaving
- ShroudedNight 6mo ago
  "Is your washroom breeding Bolsheviks?"
axpy906 6mo ago
It’s funny how corporations get a bar wrap. Have you ever worked with private equity? Bad to worse.
- devmor 6mo ago
  Most PE is ironically ultimately owned by publicly traded funds. If you have a 401k that you’re not personally managing odds are that PE is where most of your gains come from.

dboreham 6mo ago

See also HP. Pretty much only Costco left.

chrisweekly 6mo ago
This is where PBCs (Public Benefit Companies) and B-Corps may have a role to play. Something like that seems necessary to enable both (A) sufficient profitability to support innovation and viability in a capitalist society and (B) consideration of the public good. Traditional public companies aren't just disincentivized from caring about externalities, they're legally required to maximize shareholder profits, full stop. Which IMHO is a big part of the reason companies ~always become "evil".
- mattkevan 6mo ago
  The company I currently work for is both a B-Corp and an employee-owned trust. The difference in culture, attitude and behaviour to the previous place I worked at, which only cared about quarterly results is stark.
devmor 6mo ago
Costco is such a strange and stark case standing in opposition to this general rule. From everything I hear, I can only gather that the reason is because of extremely experienced and level-headed executive staff.

renticulous 6mo ago

Middle class productive population produces commons goods and resources which gets exploited by Elites. Tragedy of the Commons applied to wealth generation process itself.

tehjoker 6mo ago

The previous deal was due to (a) a lower level of development of capitalism (b) a higher profit margin that collapsed in the 70s (c) a communist movement that threatened capital into behaving

ShroudedNight 6mo ago
"Is your washroom breeding Bolsheviks?"

axpy906 6mo ago

It’s funny how corporations get a bar wrap. Have you ever worked with private equity? Bad to worse.

devmor 6mo ago
Most PE is ironically ultimately owned by publicly traded funds. If you have a 401k that you’re not personally managing odds are that PE is where most of your gains come from.