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Does enshitification happen because companies are publicly-traded? (beehaw.org)

submitted 4 months ago by [email protected] to c/[email protected]

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Isn't that a prerequisite for enshitification? Publicly-traded companies are required (by law, I think) to maximize profits for their shareholders, even if that means utterly ruining their original product (Reddit, Boeing, etc.), yes? What do you think?

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[–] GregorGizeh 8 points 4 months ago* (last edited 4 months ago) (1 children)

Ah fair enough, that makes more sense then. Read it as an argument for the free market

[–] [email protected] 4 points 4 months ago* (last edited 4 months ago)

It wasn't, although it wasn't an argument against per se either. Both were/are markets.

What actually needs to happen with internet enshittification is probably some kind of regulation. People just don't understand the magic boxes well enough to not fall prey. The EU is on it, at least. With Boeing, probably the Enron formula. We'll see how many accidents it takes to create movement on that, considering it's a company that makes the big banks look disposable by comparison.