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user-inactivated  ·  124 days ago  ·  link  ·    ·  parent  ·  post: "The robots are here, they’re working in management, and they’re grinding workers into the ground."

    It should be pointed out that from a shareholder perspective, GE went from $60 to $11 in the face of external technological threats. Shareholder value is the idea that you can't roll your money back into R&D because it doesn't have any immediate benefit, far better to declare a dividend and keep the people who own your shares happy.

    Tesla, for their part, gives no fucks about their shareholders. They have been rewarded handsomely for it.

Whether we're talking about public or privately owned companies, if there's one real big lesson from companies like Hostess and Toys R Us and Sears and such, is that if you prioritize extracting wealth from company assets instead of using those assets to reinforce the company, you're gonna have a great time making yourself that much richer. Everyone who works for you though? They're gonna have a real bad time society suffers because of it.