Comment on Microsoft CFO calls for 'intensity' in an internal memo, after blowout earnings

• ThirdConsul@lemmy.ml ⁨1⁩ ⁨month⁩ ago

  Technically they don’t - it’s a lie told often by CEO. But its a lie. law.stanford.edu/…/Fiduciary-Duties-of-the-Board-…

  source

  • gandalf_der_12te@discuss.tchncs.de ⁨1⁩ ⁨month⁩ ago

    the way i understand it, the company has an obligation to fulfill “shareholder value”, which is maximizing profits in 99% of cases, at least on publicly traded companies.

    source

    • ThirdConsul@lemmy.ml ⁨1⁩ ⁨month⁩ ago

      Same document, section about Shareholders.

      There’s no such thing. There COULD be something like shareholders voting on smthing and those votes are binding, but the agenda is declared by the company and can be only shiet like dividends rate, certain acquisitions, etc. Not the company strategy itself.

      source

      • grrgyle@slrpnk.net ⁨1⁩ ⁨month⁩ ago

        Ah so it’s the classic “but my hands are forced to do the machine’s bidding” then goes on to do the thing they really wanted to do while their hollow appeal to authority is still echoing.

        I believe it’s one of the things corpos love about AI so much - it can be used as a stochastic authority to excuse their behaviour. And if they don’t like what it extrudes? Well they can just shake up the inputs and run it again, until they get what they want.

        source