this post was submitted on 18 Oct 2024
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See, the problem with publicly traded corporations is, they've got to constantly not only be making as much money this year as they did the previous year, but they've got to increase shareholder value, which means, raising prices, or reducing the product to save costs, we have termed that last bit enshitification. I mean, they don't HAVE to, but if they choose not to, the board of directors will push for a change in CSUITE personnel, and those fuckers are raking in the big bucks, and really really like their 3rd vacation homes in Aspen, so you pay more, or you get less, and sometimes you pay more AND you get less. And the beat goes on.
Plenty of privately owned companies do the same things so I don’t think it can be chalked up to an issue with publicly traded companies.
It’s all about who owns it and is sitting on the board.
Bunch of old money type people? They don’t care too much about a bad year, more important to weather the storms and keep the generational money intact.
Venture capitalists? Jack Welch this dogshit company and get us some short term gains!