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."
Dr James J TeethOne thing I would like to have seen is an explicit call out that a lot of executives are heavily compensated in stock. Not only are they pressured by Wall Street for short term profits, but they also have a personal financial incentive in pushing that system.
T. Austin Brown@jimgon @mmasnick @pluralistic this is an odd problem. Executive compensation in stock should be an incentive to preserve the long-term value of the shares, but for a variety that’s not the result we see.
@jimgon @mmasnick @pluralistic *variety of reasons. I should really finish my coffee before posting.