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this post was submitted on 16 Jun 2023
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No Stupid Questions
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No such thing. Ask away!
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Public companies are legally required to always do their best to grow year over year. Eventually these companies get so large they can't realistically get more market share so they have to figure out how to make more money from their users. This leads to them squeezing users for cash in the hunt for short term gains because they've already realistically capped out on how much money they can make per year. It's a dumb system that can't work in the long term.
This was pulled from Case law on the fiduciary duty of directors to maximize the wealth of corporate shareholders with a few more cases sometimes in favor of the business and others in favor of the shareholder. If anyone else wants to read some more on this. Reading some more based on what searches I find it seems like in reality it complicated. But I'm just a individual contributor all of this is above my knowledge grade.
I do agree though that this model is not realistic long term. Eventually you need to jump into other markets to continue your growth or just squeeze your user base / customers dry.
Just search Dodge v. Ford Motor Company, the case that enshrined this doctrine...
I know the system prevents it but they should just be happy with making a steady amount of income each year
Private companies absolutely can, what sucks is alot of owners are looking for a public exit so they can make a ton of money and step away from the company. Valve is a great example of a private company happy to sit back and rake in cash. They have no plans to go public and can continue slowly improving their product because of it.
Fiduciary responsibility of the company to their shareholders.