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Even if it wasn't necessary for their survival, it's hard to imagine a world where they wouldn't try to do it anyways. I'm not someone who buys into the idea th
by saghm 6mo ago
Even if it wasn't necessary for their survival, it's hard to imagine a world where they wouldn't try to do it anyways. I'm not someone who buys into the idea that companies are obligated to maximize profits at the expense of all else, but I do think that in the absence of other factors (e.g. regulation) it's where pretty much every company will end up.
- chrisweekly 6mo ago"the idea that companies are obligated to maximize profits at the expense of all else" !! That is literally the definition of legally-binding fiduciary resonsibility for publicly-traded corporations. There are exceptions (PBCs, B-Corps) but they're rare.
- hattmall 6mo agoIt's really not though.
- mafuy 6mo agoThis is a completely stupid take and I have no idea why so many people repeat it. This responsibility just means you have to have to document your work understandably and have a somewhat sensible reason for decisions. It does not at all force you to greed.
- saghm 6mo agoPlease cite your source for this. Everything I've ever read on the topic indicates that this is a vast oversimplification.