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   Kevin Carson (kevincarson1@kolektiva.social)'s status on Friday, 11-Aug-2023 20:38:42 JST Kevin Carson

   One of the best critiques of "rational markets" theory I've ever seen, from Cory Doctorow.
   It may be true that in the long run businesses that destroy value and enshittify goods and services will inevitably fail (although, then again, it may not, since most industries are cartelized between a handful of firms that share the same business model, so none of them suffers any competitive penalty).
   But in any case, businesses can run a long, long time before the bill comes due. And in the meantime, a lot of vulture capitalists can make one hell of a lot of money off them before dumping what's left of them onto the suckers. https://pluralistic.net/2023/08/10/smartest-guys-in-the-room/

   • novatorine 🏴🏳️‍⚧️ repeated this.
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     CindyS🌈 🇺🇦 🇵🇸 😷 (cindys@masto.nu)'s status on Friday, 11-Aug-2023 20:38:42 JST CindyS🌈 🇺🇦 🇵🇸 😷

     in reply to

     @KevinCarson1
     And it assumes that the people running large corporations care at all if the company survives beyond their personal participation. Most executives today are interchangeable money grubbing pillagers who are solely interested in their personal bottom line. As long as they make their morbidly large bonuses, no worries about 5 years from now. And the people actually doing the work? Meh. Cannon fodder. It's grotesque. We lost when we allowed corporations to kill small business.