this post was submitted on 31 Oct 2023
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Are you perhaps referring to the myth that the law requires companies to maximize shareholder profits above all else?
Ok I was ready to disparage your link since the domain ends in .ai, but actually that was a decent read and a pretty good argument. I'm glad to have better knowledge of the actual court rulings.
I didn't even look at the URL, to be honest; it was the most layman-friendly and succinct article that was from the last few years that popped up in a quick search, but there's plenty of similar articles from other sources if anyone doubts this one.
There is no law that says they must. But shareholders are justified to fire C suite who don't. And realistically shareholders only care about profits. Therefore they effectively must. Regardless of it not being "law".
Who/Where are these people that believe that? I have heard people say shareholders only care about profits, but I have never heard anyone say it was a law to maximize them. Regardless, they do love profits more than anyone or anything at any company. Companies also like to keep their shareholders happy. Evil comes about becuase of these.