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lledrtx@lemmy.world to Work Reform@lemmy.world · 1 year ago

A billionaire wrote this letter to Google a year ago. How likely is that Google's layoffs and actions since then are at least partly because of this?

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A billionaire wrote this letter to Google a year ago. How likely is that Google's layoffs and actions since then are at least partly because of this?

lemmy.world

lledrtx@lemmy.world to Work Reform@lemmy.world · 1 year ago
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  • Butt Pirate@reddthat.com
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    6 months ago

    deleted by creator

    • HappycamperNZ@lemmy.world
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      1 year ago

      Uh… its not illegal for an investment to not make money?

    • sus@programming.dev
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      1 year ago

      Fiduciary duty is real, in many jurisdictions at least. It means that the executives of a company are required to act in the best interest of the shareholders. In 99% of the cases what shareholders want is maximum profit.

      But really, in almost every case where someone is found to be guilty of breaching this duty, it’s because they actually actively did something fraudulent. Otherwise it’s much easier for the shareholders or board to just fire the problematic people and get new ones. It’s not like being incompetent is a crime.

      for source you can look at eg. https://en.wikipedia.org/wiki/Fiduciary

    • candybrie@lemmy.world
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      1 year ago

      This goes through the legal cases in the US and UK that establish it isn’t generally a requirement to maximize shareholder value above all else: https://legislate.ai/blog/does-the-law-require-public-companies-to-maximise-shareholder-value

Work Reform@lemmy.world

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A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

Our Philosophies:

  • All workers must be paid a living wage for their labor.
  • Income inequality is the main cause of lower living standards.
  • Workers must join together and fight back for what is rightfully theirs.
  • We must not be divided and conquered. Workers gain the most when they focus on unifying issues.

Our Goals

  • Higher wages for underpaid workers.
  • Better worker representation, including but not limited to unions.
  • Better and fewer working hours.
  • Stimulating a massive wave of worker organizing in the United States and beyond.
  • Organizing and supporting political causes and campaigns that put workers first.
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