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dantheman91 t1_j8gw6ns wrote

Reply to comment by yesbillyitsme in Meta's chief business officer is leaving after 13 years amid the company ramping up its focus on 'efficiency' by luxisa

>It doesn’t have a duty to shareholders

Legally it does

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yesbillyitsme t1_j8gxd2y wrote

#FALSE: There is a common belief that corporate directors have a legal duty to maximize corporate profits and “shareholder value” — even if this means skirting ethical rules, damaging the environment or harming employees. But this belief is utterly false. To quote the U.S. Supreme Court opinion in the recent Hobby Lobby case: “Modern corporate law does not require for-profit corporations to pursue profit at the expense of everything else, and many do not.”

Emphasis because people need to wake the fuck up and learn the truth instead of perpetuating corporate propaganda

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dantheman91 t1_j8irzsb wrote

That is not what I said. I said they have a duty to their shareholders, to act in their best interest, not to maximize profits. You're incorrectly putting words in my mouth.

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