this post was submitted on 27 Oct 2023
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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've always worked for smaller private companies because my partner always got screwed working at bigger corporations.
Avoid private equity as well. PE is equally shitty.
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.
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.
“The best interest of the business” is far too lenient in its wording. Some of the shareholder derivative lawsuits out there are fucking wild.
Simple things such as “paying your workers too much”, “acting with too much emphasis on morality over capital gains”, it all does have to come back to shareholder profits, ever since Dodge Vs. Ford.
And yet that's how it works, because business is not a linear thing. Do you have any idea how long "MUXEMOOSE PROOFITS!!!!" types have been whining about the price of Costco's hot dog?
It's the cargo-cult interpretation of Dodge v. Ford Motor Co.
Meaning what?
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.
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.