Comment on I don't want to call Twitter X out of spite, but calling the travesty that is X Twitter is an insult to the people that made Twitter what it was.

• jaycifer@lemmy.world ⁨1⁩ ⁨day⁩ ago

  It’s a myth so widely pushed and accepted over the decades that just calling it a myth won’t be accepted as an argument against it at this point.

  What I think is interesting is that this sense of fiduciary duty can be used by a company to do whatever they want. Mass layoffs are part of a fiduciary duty to cut costs. Mass hirings are part of a fiduciary duty to expand operations for growth. At this point it’s less a myth and more an excuse for doing whatever.

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• originalfrozenbanana@lemm.ee ⁨1⁩ ⁨day⁩ ago

  No, I don’t think that’s true. Twitters board had to sue for specific performance because Musk backed out of a formal offer in the late stages for fabricated reasons. It’s not like it was “sue musk or go to jail” but their job as board members comes with a fiduciary obligation, and musk was paying 38% over the share price. Twitter is FAR from blameless but sueing musk isn’t a failing …harvard.edu/…/twitter-vs-musk-the-complaint/

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  • db0@lemmy.dbzer0.com ⁨1⁩ ⁨day⁩ ago

    That’s not what I said. I said the “Fiduciary duty to make profit” that keeps being brought up whenever corpos act like sociopaths, is a myth.

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    • originalfrozenbanana@lemm.ee ⁨1⁩ ⁨day⁩ ago

      Ok? But that’s not what the Twitter board claimed. I agree with your premise but that isn’t what happened here.

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      • db0@lemmy.dbzer0.com ⁨1⁩ ⁨day⁩ ago

        You literally used it as the reason in the comment I replied to

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