Fearing enshittification is one reason I want to keep my company private. If I have to answer to stockholders, then I’m not answering to customers, and that’s shitty.

[–] Corgana@startrek.website 20 points 2 years ago

Fearing enshittification is one reason I want to keep my company private. If I have to answer to stockholders, then I’m not answering to customers, and that’s shitty.

I get it. His most recent post talks about how enshittification isn't just limited to digital platforms, it's inevitable whenever monopolies are allowed to form.

[–] hiddengoat@kbin.social 8 points 2 years ago (1 children)

Well good news... you don't have to fucking answer to stockholders. That's a fucking lie perpetrated by Harvard Business sociopaths and their bootlicking bitchboys.

All you have to do is what's in the best interest of the business. If someone doesn't like it they can sell the fucking stock.

[–] grue@lemmy.world 7 points 2 years ago (1 children)

It's the cargo-cult interpretation of Dodge v. Ford Motor Co.

[–] intensely_human@lemm.ee 1 points 2 years ago (1 children)

Meaning what?

[–] grue@lemmy.world 1 points 2 years ago

The ruling of that Supreme Court case was that publicly-traded companies are obligated to act in the interests of their shareholders, rather than employees or customers. Cargo cultist MBA-types -- those who have superficial knowledge, but lack actual understanding -- think that means companies must be purely sociopathic and slavishly work to increase quarter-to-quarter stock returns at all costs, but that's not actually true because management is still allowed to take things like long-term stability and customer goodwill into account.

[–] wewbull@iusearchlinux.fyi 5 points 2 years ago

I've noted over the past few years, how any company that invests in R&D rather than pays dividends is labelled as "loss making" by the press.

[–] wiki_me@lemmy.ml 1 points 2 years ago

100%. I never wanna work for public company again. I left a huge one after constant thrashing of canceling projects and trips so the accountants could move money around for the quarterly earnings reports only to revive after. Went to a couple small private ones then yr ago employer went public. Been so downhill so fast. Company isn’t recognizable to the one I accepted offer from. I’m leaving when I find a private fit.

I would consult a lawyer, basically iirc you can add to the bylaws that you are not just about making money and then you are only obligated to share dividends if you keep the majority of the voting rights.