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0 pointsdevmor24d ago0 comments

Skeptical is a light way to put it. It is essentially a forgone conclusion that once a company IPOs, any veil that they might be working for the global good is entirely lifted.

A publicly traded company is legally obligated to go against the global good.

0 comments

mattkevan24d ago

It’s not really, companies like GM used to boast about how well they treated their employees and communities. It was Jack Welch and a legion of like-minded arseholes who decided they should be increasingly richer no matter who or what paid for it.

axpy90624d ago

It’s funny how corporations get a bar wrap. Have you ever worked with private equity? Bad to worse.

devmorOP23d ago

Most PE is ironically ultimately owned by publicly traded funds. If you have a 401k that you’re not personally managing odds are that PE is where most of your gains come from.

dboreham24d ago

See also HP. Pretty much only Costco left.

chrisweekly24d ago

This is where PBCs (Public Benefit Companies) and B-Corps may have a role to play. Something like that seems necessary to enable both (A) sufficient profitability to support innovation and viability in a capitalist society and (B) consideration of the public good. Traditional public companies aren't just disincentivized from caring about externalities, they're legally required to maximize shareholder profits, full stop. Which IMHO is a big part of the reason companies ~always become "evil".

mattkevan23d ago

The company I currently work for is both a B-Corp and an employee-owned trust. The difference in culture, attitude and behaviour to the previous place I worked at, which only cared about quarterly results is stark.

devmorOP23d ago

Costco is such a strange and stark case standing in opposition to this general rule. From everything I hear, I can only gather that the reason is because of extremely experienced and level-headed executive staff.

tehjoker24d ago

The previous deal was due to (a) a lower level of development of capitalism (b) a higher profit margin that collapsed in the 70s (c) a communist movement that threatened capital into behaving

ShroudedNight24d ago

"Is your washroom breeding Bolsheviks?"

renticulous24d ago

Middle class productive population produces commons goods and resources which gets exploited by Elites. Tragedy of the Commons applied to wealth generation process itself.

giwook24d ago

Fair point.

Call me an optimist, but I'm still holding out hope that Amodei is and still can do the right thing. That hope is fading fast though.

thibauts24d ago

« Don’t be evil »

abirch24d ago

If no one can buy your soul, what's its value? Every Management Consulting Firm

WarmWash24d ago

The problem is that people equate money to power and power to evil.

So no matter what, if you do something lots of people like (and hence compensate you for), you will be evil.

It's a very interesting quirk of human intuition.

arcanemachiner24d ago

A reasonable conclusion, considering that money and power seem to have their own gravity, so people with more of both end up getting even more of both, and vice versa.

Can't blame someone who comes to such a conclusion about money and power.

WarmWash24d ago

The unreasonable part automatically labeling power as evil.

ModernMech24d ago

Labeling power evil is not automatic, its just making an observation of the common case. Money-backed power almost never works for the forces of good, and the people who claim they're gonna be good almost always end up being evil when they're rich and powerful enough. See also: Google.

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epsilonic24d ago

It’s a sane default to label power as evil in a society driven by greed, usury, and capital gain. Power tends to corrupt, particularly when the incentives driving its pursuit or sustenance undermine scruples or conscientiousness. It is difficult to see how power is not corrupting when it becomes an end in itself, rather than a means directed toward a worthy or noble purpose.

tehjoker24d ago

Money and power are good when used democratically to clearly benefit the majority of the people. They are bad otherwise. It is hard to see this because we live in such a regime that exists in the negative space seemingly without beginning or end. Other countries have different relationships to their population.

j / k navigate · click thread line to collapse

0 comments

mattkevan24d ago

axpy90624d ago

It’s funny how corporations get a bar wrap. Have you ever worked with private equity? Bad to worse.

devmorOP23d ago

Most PE is ironically ultimately owned by publicly traded funds. If you have a 401k that you’re not personally managing odds are that PE is where most of your gains come from.

dboreham24d ago

See also HP. Pretty much only Costco left.

chrisweekly24d ago

mattkevan23d ago

devmorOP23d ago

tehjoker24d ago

The previous deal was due to (a) a lower level of development of capitalism (b) a higher profit margin that collapsed in the 70s (c) a communist movement that threatened capital into behaving

ShroudedNight24d ago

"Is your washroom breeding Bolsheviks?"

renticulous24d ago

Middle class productive population produces commons goods and resources which gets exploited by Elites. Tragedy of the Commons applied to wealth generation process itself.

giwook24d ago

Fair point.

Call me an optimist, but I'm still holding out hope that Amodei is and still can do the right thing. That hope is fading fast though.

thibauts24d ago

« Don’t be evil »

abirch24d ago

If no one can buy your soul, what's its value? Every Management Consulting Firm

WarmWash24d ago

The problem is that people equate money to power and power to evil.

So no matter what, if you do something lots of people like (and hence compensate you for), you will be evil.

It's a very interesting quirk of human intuition.

arcanemachiner24d ago

A reasonable conclusion, considering that money and power seem to have their own gravity, so people with more of both end up getting even more of both, and vice versa.

Can't blame someone who comes to such a conclusion about money and power.

WarmWash24d ago

The unreasonable part automatically labeling power as evil.

ModernMech24d ago

1 more reply

epsilonic24d ago

tehjoker24d ago

j / k navigate · click thread line to collapse