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jeppester | 4 months ago
I'm well aware that companies are not your friends, and they are only in it to earn as much money as possible etc. But in the ideal world it should never be a consideration to willingly deceive your customers. Then something is wrong that needs fixing.
thewebguyd|4 months ago
We need to end shareholder primacy and have stronger antitrust enforcement.
AnthonyMouse|4 months ago
That case is from 1919 and it doesn't say what most people think it says.
The problem there was that Ford was trying to claim he could do whatever he wants because he has the most votes, minority shareholders be damned. In practice what companies do now is that they do whatever they want and come up with some explanation for why it's in the interest of the shareholders, e.g. charitable donations are tax deductions and strengthen the company's brand with customers, instead of explicitly telling the other shareholders to eat sand.
The real problem with modern companies is diffuse ownership. You invest your retirement money in some fund, the fund is the thing that actually elects the board and what the fund wants is to increase profits, and typically short-term profits at that, so they elect a board to do it and that's what happens. It's not because the law requires them to do that, it's because that's the result of that incentive structure. And then all the companies that you own as a shareholder are out there screwing you over by double when you're their customer.
Whereas if you have a company owned and operated by the same people, then they can say "hey wait a minute, this is only going to increase short-term profits by a small amount and it's going to make everyone hate us, maybe we shouldn't do it?" Which is the thing that's missing from large publicly-traded companies.
> stronger antitrust enforcement
This is the other thing that's missing. Even if companies are trying to screw you, if they have a lot of competition then they can't, because you'd just switch to one that isn't. But now try that in a market where there are only two incumbents and they're both content to pick your pocket as long as the other one is doing the same.
themafia|4 months ago
Unsurprisingly Friedman was lauded and rewarded for this behavior.
itopaloglu83|4 months ago
unknown|4 months ago
[deleted]
kevin_thibedeau|4 months ago
deaux|4 months ago
To be very clear:
Companies absolutely do not have any responsibility to maximize short-term profit.
They have a responsibility to not actively and intentionally destroy the company, and to not use the company's resources for purely personal gain in a way unrelated to the company.
That's it.
This is also why you never hear about any company getting sued for anything related to this (let alone succesfully). Because it doesn't happen, as it's not a thing and any lawyer would immediately tell you you don't have a case.
alex1138|4 months ago
Behavior like what some of the tech giants do (and I don't crusade against "big tech" but individual cases are ridiculous) wouldn't be justified if you, like, wrote it down on a piece of paper and showed it to them, but they get away with it because you can just ignore all feedback, you don't have to actually answer support tickets from a distance of potentially hundreds of miles away (if you acted like that to my face, well, you wouldn't dare)
Some are worse than others; some legitimately just do not care how much evil they're pumping out into the world (https://news.ycombinator.com/item?id=1692122 https://news.ycombinator.com/item?id=42651178)
zerosizedweasle|4 months ago
estimator7292|4 months ago
RoyTyrell|4 months ago
vjvjvjvjghv|4 months ago
giancarlostoro|4 months ago
noir_lord|4 months ago
I realised the last time I was in a major city (I live in a village) at night just how close we are, ebikes wizzing around with youngish adults wearing corporate logos all over themselves while using e-cigs, gangs of others waiting outside each restaurant for a pickup.
Straight out the opening of Snowcrash but without the cool car.
We really did invent Torment Nexus from the classic cautionary tale "Don't Create The Torment Nexus".
I love computers, I love programming (and have for 35 years), I really really am coming to detest larger and larger parts of the modern tech scene - consumer tech and the Microsoft/Meta/Googles of the world.
Yeul|4 months ago
wat10000|4 months ago
Turns out computers weren't different at all, they just hadn't caught the full attention of government and business yet.
matheusmoreira|4 months ago
Asmod4n|4 months ago
tsunamifury|4 months ago
I am an executive design leader and all hires from these three companies are screened in detail about their honesty level in their designs due to how many issues I have with these companies training their workers to lie.
If you work for them know that it’s a black mark on your record.
I have hired two from these companies who literally opened the interview with “I want to leave X because they literally are lying”
netsharc|4 months ago
And it seems other companies see them and think "hey, can we do that as well?" (Like the issue of this article...)
Meta with its exploiting of children's (and adults') insecurities is probably worse though.
kenjackson|4 months ago
themafia|4 months ago
Enforcement agencies are asleep at the switch. Without any pressure to constrain them then these major corporations will stop at nothing.
> it should never be a consideration to willingly deceive your customers.
They don't see it that way. They just see it as a new profit stream that they're daring enough to capture.
Yeul|4 months ago
Look I am computer savvy enough to "fix" Windows I can live with it but I advised my mom to get an Apple laptop.
watwut|4 months ago
They are not asleep. They were intentionally weakened, step by step.
netsharc|4 months ago
I suppose since they're (they being Amazon, Meta, Google, Microsoft) helping pay for a ballroom for the biggest rug conman..
vjvjvjvjghv|4 months ago