this post was submitted on 01 Sep 2023
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I was confusing an obligation to shareholders with an obligation to profit. So if a share holder majority want maximized profit, I think the company needs to do it.
But the shareholders can replace members who are not acting what they perceive to be their best interest, right? It seems like eventually the company will conform to what the share holders want.
It seems like if a CEO publicly said they were shrinking the company to benefit the environment, they'd be replaced by the shareholders pretty quickly.