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?
I’m a little bit confused by your post. Publicly-traded companies, by and large, place extraordinary emphasis on short term, quarter by quarter profit. Seems like a very strong contender for the root cause if the issue?
Doesn’t this statement support publicly traded status being a riot cause, though?
I must assume I’m misunderstanding your argument…?
The vast majority of companies don’t start by being publicly traded. They begin life as a good idea, an itch to scratch, or how to make money fast.
The public trading happens when the founders run out of money or get stars in their eyes about “the fortune” they’re sitting on.
That’s where the wheels come off, but the process is well and truly in motion by that stage.