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submitted 5 months ago by hedge@beehaw.org to c/technology@beehaw.org

Isn't that a prerequisite for enshitification? Publicly-traded companies are required (by law, I think) to maximize profits for their shareholders, even if that means utterly ruining their original product (Reddit, Boeing, etc.), yes? What do you think?

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[-] CanadaPlus@lemmy.sdf.org 17 points 5 months ago

'Member before publicly traded companies? We had dudes like Rockefeller and Carnegie. Company towns, rats in the sausage, kids getting caught in giant cogs...

No, it's not because they're publicly traded. It's because people like money, and if they have enough they can pay to not look at the side effects of getting it - whether that's dead kids or just no privacy and bad content.

this post was submitted on 24 Apr 2024
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