Management incentivised to grow stock market value. look, if the incentives are wrong then you get distortions. A good example with "founders" is wework.
Wework's innovation was two fold:
zeroth) vast funding
one) run the company like a mystery cult
two) Have beer in a shared office
Everything else is exactly what a shared office company does. WeWork's entire incentive was to grow as fast as possible and get as many customers as possible. No one cared about business fundamentals, because WeWork wasn't a buisness. It was a commodity to be traded by softbank.
Buisness fundamentals have been royally fucked by changes in finance. Stock buybacks, limp monopoly actions, toothless market regulation, have all meant that profit is one thing, but share price is everything.
The capitalism that made boeing et al is not the capitalism that we live in now.
