Brilliantly obvious. What can’t we build a movement around this? > http://sethgodin.typepad.com/seths_blog/2015/10/what-are-corporations-for.html > > <http://sethgodin.typepad.com/seths_blog/2015/10/what-are-corporations-for.html> > > What are corporations for? > > The purpose of a company is to serve its customers. > > Its obligation is to not harm everyone else. > > And its opportunity is to enrich the lives of its employees. > > Somewhere along the way, people got the idea that maximizing investor return > was the point. It shouldn't be. That's not what democracies ought to seek in > chartering corporations to participate in our society. > > The great corporations of a generation ago, the ones that built key elements > of our culture, were run by individuals who had more on their mind than > driving the value of their options up. > > The problem with short-term stock price maximization is that it's not > particularly difficult. If you have market power, if the cost of switching is > high or consumer knowledge is low, there are all sorts of ways that a > well-motivated management team can hurt its customers, its community and its > employees on the way to boosting what the investors say they want. > > It's not difficult for Dell to squeeze a little more junkware into a laptop, > or Fedex to lower its customer service standards, or Verizon to deliver less > bandwidth than they promised. But just because it works doesn't mean that > they're doing their jobs, or keeping their promise, or doing work that they > can be proud of. > > Profits and stock price aren't the point (with customers as a side project). > It's the other way around.
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