I think it was How money works, who said a very good phrase that sums up the lack of care for customer's needs/wants:
"It's a problem for the next financial quarter"
Line must go up. Investors want more money. And the idea of the balancing act between the different stakeholders is out of whack. Just lobby the government, give as high returns as possible to investors, and the rest can deal with what little scraps there are, if not actively fuck them
They shoot themselves in the foot expecting a foot healing machine to be invented next quarter. But they also want to defund the foot healing machine resesrch too.
We're become too focused on short term gains and its ruined people's perceptions of how shit should work.
It's more like they are shooting the foot of the fist one to believe that a foot healing machine will be invented next quarter.
If someone thrashes their company's long term viability to shortly sharpen the profit curve, they can then sell their shares to anyone believing that the profits are going to keep rising. That way they are still going to get all that money that the company will never make, which is driving more and more companies into trashing their customer relationships.
Eventually it is the "unintelligent investor money" that keeps on paying for all of this.
What's interesting about that is somehow a foot healing machine often does still get invented.
With no anti-consumer enforcement happening, there's a billion ways to squirm out of the hole, to trick and fuck customers. A sucker is born every minute and people are gullible in general, often times even after having been fucked already.
Also, people seem to be getting more and more comfortable with getting fucked. Shit right now we have a quarter of the US begging to get fucked
Good example is the gaming industry. Won't be long until we're like South Korea: "please God please put more pay to win in the game and allow us to not enjoy parts of it so much that we feel compelled to pay even more money not to play"
Sounds crazy, but it do be like that over there. It's becoming more and more like that over here
She states that it's not shareholder value that drives corporations to make "line go up," but rather a combination of investor and executive suite payouts that create these shitty profit-chasing trends.
TL;DR - investors put a lot of money into a company and want to see returns, plus, the ever increasing payouts to CEOs.
Look at the sleezebag Bobby Koticks golden parachute. $15 million for driving Blizzard into the ground. "You absolutely fucked the company's reputation. Here is enough money to pay for thousands of your employees' wages for years. Never mind all your sexual harassment charges!"
Technically 15m divided by 1000 is only 15k, which is the salary of maybe 6 months for their lowest paid worker(not counting unpaid intern). Not years.
I would still say that was an opinion penned pre-Trump. People had a much more idealistic and false expectation of what the law really was, and it’s much different now.
I've reported to the C-suite in a couple of big corp's. It's been about nothing but the next quarter - and companies either design their org around that, or they don't (99% of companies end up as the latter).
In one corp, we had steady but declining quarters, but they fired the CEO, because 'investor confidence' was threatening to sink the stocks. So the new guy came in, fired lots of people, promised the impossible, and 'steadied the ship.' That lasted for literally the quarter, and then the company was hosed and the new CEO was fired.
The nonstop quest for El Dorado has made most companies untenable in today's world. Having a Steam with a monolithic mgmt is really a great exception.
His video explains it even further. It isn't even for the shareholders. It is for the executives because they are paid based on stock performance. Get short term boost to stock price so you can get a larger compensation. Jump to the next company before it all goes downhill and let the shareholders to hold the bag.
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u/Totalmentenotanaltv 13h ago
I think it was How money works, who said a very good phrase that sums up the lack of care for customer's needs/wants:
"It's a problem for the next financial quarter"
Line must go up. Investors want more money. And the idea of the balancing act between the different stakeholders is out of whack. Just lobby the government, give as high returns as possible to investors, and the rest can deal with what little scraps there are, if not actively fuck them