ByteOnBikes"Have a duty to shareholders to maximize profits" musk is scurd.
Endymion_MallornLegally correct.
It’s a fiduciary duty, not a legal one. It’s an expected act, but no law says they must maximize profits at any cost.
Its an expectation that can be changed and tempered like any other, but the rich class doesn’t want to own up to deciding to destroy people’s lives for their profit, so they hand wave and pretend like someone made them do it.
Maybe a few more bullets will debase them of this clearly reckless belief.
No, companies can actually be sued if they fail to act in the most profitable way. As well they should.
Counter example: Apple spends millions on improving accessibility for the blind that outstrips the profitability of that subgroup. It’s a bit more nuanced, mate.