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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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[-] burningmatches@feddit.uk 2 points 6 months ago

Yeah, but we’ve had countless examples of loss-making tech companies with sky-high valuations. Amazon didn’t make a profit for something like 20 years. Investors of course want returns, but they can differ on the timeframe they’re willing to wait for them.

this post was submitted on 24 Apr 2024
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