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overgard 4 hours ago

The real problem is the philosophy that arose in the 1970s that "maximizing shareholder value" is the point of business. As a society, we've become obsessed with optimizing this one variable at the expense of all others and "growth" has become a religion. At it's core, the most important thing we should be optimizing for is "does this business improve the world while turning a robust and sustainable revenue stream" not "how much money can we make for investors". The latter will always optimize for incredible wealth disparity, enshittification, and mostly useless people like Elon Musk becoming stupidly wealthy because it's basically impossible for them to lose money no matter how bad their ideas are (once you're a certain level of rich, your passive income is just immense). I'm not saying shareholders/investors shouldn't be considered, but it can't be the only or the most important metric. We've completely lost the plot on the social and market purpose of a corporation.