Yochai Benkler
A simple story about deregulation, short term thinking driven by stock based compensation caused Southwest's meltdown. And a nice example of how unions can actually have a longer term stake in the company than financialized management. https://www.nytimes.com/2022/12/31/opinion/southwest-airlines-computers.html
Opinion | The Shameful Open Secret Behind Southwest’s Failure

The recent meltdown was avoidable, but it would have cost the company.

Jan 1, 2023 at 2:23pmMastodon for Android
Show threadLegalQuiltsJan 1, 2023
@YBenkler I remember years and years ago, Neil Caputo had a SW flight attendant on. She was so proud of how her pension was doing all SW stock. This was right after Enron. Neil pointed out the uh, "wisdom" of that. Wondering how the pensions are doing now?
Show threadBrendan WJan 1, 2023

@YBenkler IT people like me have nightmares about technical debt - when it spills over into this kind of visibility within the regular lines of business you know you dun goofed.

And yes, I can attest that short-term thinking by upper management is one of the worst generators of it.

Edit: typo