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   Ricky (cemedia@mastodon.social)'s status on Wednesday, 11-Dec-2024 03:44:35 JST Ricky

   In an unexpected turn of events, Elon Musk gives a perfect argument against capitalism

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     Neal Gompa (ニール・ゴンパ) :fedora: (conan_kudo@fosstodon.org)'s status on Wednesday, 11-Dec-2024 06:53:19 JST Neal Gompa (ニール・ゴンパ) :fedora:

     in reply to

     @cemedia Elon is also wrong. Companies are not necessarily required to "have a duty to shareholders to maximize profits, no matter how ruthlessly".

     Presuming we're talking about American corporate law, companies can be set up to have *any* goal that is in compliance with the law. As long as the company isn't losing money year over year, the company bylaws can have whatever primary goal is desired. "Shareholder primacy" is an assumption, not a rule or law.

     Haelwenn /элвэн/ :triskell: likes this.