Re:Etsy Strike
by imwillofficial on Monday April 11, 2022 @02:26PM
(#30992700)
“fiduciary duty to their share holders to make as much money as possible”
No they don’t. That’s an oft repeated myth. The have a responsibility to manage in the best interests of the business.
That’s pretty vague.
On purpose.
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There's a "however". Actions that reduce the shareholder value without any long term prospects is something that will drive down investment and could trigger lawsuits
Re:Etsy Strike
by imwillofficial on Monday April 11, 2022 @03:45PM
(#30993799)
A lawsuit does not indicate a breach of law or anything really.
>without any long term prospects
Of course. Because by definition you’ve sacrificed the short term and the long term for nothing. But I don’t think anyone here would debate that so I’m not entirely sure what you’re getting at.
In my experience it's just a repeated line to excuse companies for not thinking longterm or about anyone/anything beyond immediate revenue. It's very silly and not what the term means at all, yet as you pointed out, we see it all the time.