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Joined 1 year ago
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Cake day: July 1st, 2023

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  • This is kind of true. But the leadership often answers to the board of directors, which have often been shareholders that buy into control of the company after it goes public. At this point, you have shareholders who own no personal stake in a company. Often their only goal is to make a profit, sometimes they’re “serial entrepreneurs” who make their millions getting on boards and “flipping” the company to make a huge profit in a short amount of time.

    So it’s kind of management, but it’s also management brought on by the presence of public investment in a company.

    Combine this with the fact that the law has come down more than once on the side of choosing options that make the company money over maintaining company policy and you get a really terrible culture of publicly traded companies gouging themselves for short term profit (or even long term profit done in a shitty way.)

    Oh, I realize I repeated some of what you said. But you did say “it’s not about shareholders” to be contrarian, then went on to explain (like I did) how it’s actually exactly because of shareholders.

    Edit: what the fuck I literally can’t comment on the comment below.















  • That goes back to the point I was making earlier. For some reason a bank teller is hired for the same wage for the same hours, but I can almost guarantee you that because of the ATM they spend significantly less of their work day “working” because the ATM was designed to do a significant portion of their job. There certainly is an excuse to keep them around all day, there are some unavoidable tasks that only a human can do and they come up at random times throughout the day, but the ATM has replaced many of the working hours the bank tellers used to have even if the job didn’t go away.


  • Sure, but also almost by definition, using tech to replace workers in other industries will reduce the total amount of workers needed for that job as you made the tech presumably to make the job easier or faster. My post was talking about the tech industry just because that was the topic, but as you mention, tech definitely replaces jobs in all sectors.