FFS sake, our CEO told the Board, for a couple of years, “We’re gonna lose money to invest in $X, $Y and $Z.” They applauded him. Out loud. Literal clapping.
(We accidently made profits for those years. Oops. But that’s beside the point.)
Comment on Apple Is Lobbying Against Right to Repair Six Months After Supporting Right to Repair
snooggums@kbin.social 9 months agoThey aren’t going to make this easy cause it quite literally means giving the shareholders less profit, which is illegal in the US.
Making less profit than previous periods of time or even operating at a loss is not illegal in the US. Many companies have periods where they lose money or sacrifice short term profits for long term growth.
Investors with enough control might boot the leadership out, but they can also do that for whatever reason including unrealistic expectations.
shalafi@lemmy.world 9 months ago
dustyData@lemmy.world 9 months ago
Hell, some of the highest valued tech companies right now have never turned a profit in their entire existence.
pivot_root@lemmy.world 9 months ago
Suckling the teat of VC firms and investors works really well until the money dries up. After that, enshittification. Lots and lots of enshittification.