A Boring Dystopia

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Steve Ballmer is set to make $1 billion a year for doing nothing | CNN Business (edition.cnn.com)

submitted 1 year ago by iraq_lobster@slrpnk.net to c/aboringdystopia@lemmy.world

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[–] Bleach7297@lemmy.ca 3 points 1 year ago* (last edited 1 year ago)

The stock market is perverse.

It is supposed to be a tool that allows people to support promising ventures that they believe in, and allows them to profit from the venture if it is successful.

Instead it's a race to the bottom, where companies have a feduciary duty to their investors to make them as much profit as possible. This is the ultimate driver of enshittification.

Adam Smith was a smart guy, but he never saw Milton Friedman coming.