Mike Masnick ✅Following on @pluralistic's brilliant article about the "enshittification" process of companies, I added in something that I thought was missing from Cory's analysis: the role of "The Friedman Doctrine" that the only thing companies should work for are maximizing profits for shareholders... and highlighting how that leaves out not just other stakeholders, but the important variable of "over what time frame."
William Robison@mmasnick @pluralistic I have always found the Friedman Doctrine short sighted and ultimately counterproductive. It has over time eroded trust that there was some sort of an ethical standard of "fare play".
Everyone understands that a company needs to make a fare profit. When a company cheats a customer, it loses the customer. Along with anyone that listens to them.
At some point hyper capitalism will face diminishing returns.