What meme? This is how the world works right now.

But it's not actually a legal requirement. It is simply a economic theory.

It’s a perversion of the truth which is that officers or directors of a corporation have a fiduciary duty to the shareholders to act in the interests of those shareholders and not to eg enrich themselves.

But that doesn’t mean the duty is to maximize next quarter’s profit. Long term sustainability is also broadly in the interests of shareholders. The duty likewise does not require one to throw ethics and morals out the window.

This is why shareholders elect the board of directors, in theory.

The world could work differently if people decide it should.

"legal obligation" is propaganda that wouldn't be out of place on Russian state television. It's made up.

The way the world works right now is that effectively everyone uses an Android or Apple smartphone every day. Do you have a legal obligation to do so? No. If I said you did, I'd immediately be called out as spreading lies.