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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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[–] CanadaPlus@lemmy.sdf.org 4 points 6 months ago* (last edited 6 months ago)

It wasn't, although it wasn't an argument against per se either. Both were/are markets.

What actually needs to happen with internet enshittification is probably some kind of regulation. People just don't understand the magic boxes well enough to not fall prey. The EU is on it, at least. With Boeing, probably the Enron formula. We'll see how many accidents it takes to create movement on that, considering it's a company that makes the big banks look disposable by comparison.