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154

Does enshitification happen because companies are publicly-traded? (beehaw.org)

submitted 6 months ago by hedge@beehaw.org to c/technology@beehaw.org

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Isn't that a prerequisite for enshitification? Publicly-traded companies are required (by law, I think) to maximize profits for their shareholders, even if that means utterly ruining their original product (Reddit, Boeing, etc.), yes? What do you think?

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[–] forked_bytes@lemm.ee 8 points 6 months ago (1 children)

Private companies also seek to maximize profits...

[–] northendtrooper@lemmy.ca 14 points 6 months ago (2 children)

True but they dont have a knee to their neck from share holders to increase profits year over year.

[–] t3rmit3@beehaw.org 2 points 6 months ago

Private companies still have investors and board members they're accountable to.

[–] prex@aussie.zone 1 points 6 months ago

Cough: Blackstone KKR etc.