A Moment of Truth for American Business
I joined Twitter prior to the 2016 election and have enjoyed it ever since. I learn by reading and reflecting on what I've read. I don't do podcasts or audio books since I don't learn via audio. I like being able to read a "to the point" comment and links to all sorts of newspapers, magazines and other sources, many of which I subscribe to after being exposed. I also love the snark, the humor and the pet pictures. I'm a nobody on Twitter, which suits me fine, but I do enjoy quote tweeting and hitting post even though the only person who responds is my sister-in-law. I recently retired as a university professor after 35+ years. I taught tax accounting and was an associate dean in a business school. Profit maximization was taught in finance and economics classes and I always argued against this. It is short-sighted and does more harm than good - just look at how easily companies lay off thousands to quickly increase their net income, without a care in the world about the effects to the people and their communities. I think business schools should teach the stakeholder theory of management. Business should develop value for all of its stakeholders, i.e., employees, suppliers, customers, communities and investors. To only focus on investors is wrong.
Thank you for the compelling newsletter! I don’t know how I would’ve made it through the pandemic without Twitter and I already mourn its demise. There is no place else to get such a wide ranging commentary on many subjects that interest me. Thank you for providing the newsletter hopefully bridging the gap to whatever comes next.
I am delighted to find you here. It's true, all that you say about the benefits of Twitter. I joined at the beginning of the pandemic primarily to discover medical professionals with real-time data, explanations, et al. And discovered dozens of people with expertise in current events and issues facing our democracy and cultures that I could learn from, almost a sort of university online in real time. I have really, really liked this, do not own a tv, don't watch the news online (ads are distracting and obnoxious), nor (like PJaeger) do I learn auditorily. Reading and visuals do it for me, and I do feel sad about Twitter being hamstrung and ultimately, probably destroyed. But onward! New ways will develop, I am sure. I have no followers nor interest in them but I sure like hearing from folks like you, and you are in my top ten, probably right next to Ruth BenGhiat. Solidarity! THANK YOU 1,000 times over for sharing your wisdom so generously.
You are brilliant and I intend to follow you anywhere you go. Thank you.
Thank you. I am so pleased to be able to follow you on this platform.
So, is the answer a Municipal Social Network? *All* the social networks out there aren't really the "public square." They are PRIVATE squares that the owners are letting the public use. But all of them can arbitrarily start enforcing whatever rules they want. So is the answer a true PUBLIC social network, one that is built, monitored, and enforced by the government? One in which the same legal rules that govern speech are enforced, as if what was typed or posted there really was said/shown in a public venue? One where anonymity was truly impossible? I'm not sure.
My late RWNJ father told me the story of a company meeting in the mid-80s when a new Senior VP (one of the first Reagan-era MBA's) took the podium and asked the audience - mostly mid-level engineers for a regional power company - what the purpose of the company was for. One of the younger engineers said that it was to provide reliable electric service to their customers at a reasonable rate. The MBA said that he was absolutely wrong and the purpose of the company was strictly to maximize shareholder value. Even my father thought that this was awful.
I just subscribed here after reading this brilliant post. Thank you!
This is a welcomed analysis and deeply consistent with your incisive analyses in many other situations. The vast benefits of being a corporation in a democracy have never been fully paid for or supported by corporations at their level of ability. I have always been happy to pay my taxes for my contribution to support my country’s needs. Ending the conditioning in each us to support oppression includes ending the same in corporations.
"And if we needed any convincing, his conduct in the months before the deal was finalized. "
You need an editor, and this comment section needs enhanced text, like italics, bold, underline, /et al/.
Questions I've been asking for half a century. Asking them can get you called names.
I wonder if Mastodon ( https://joinmastodon.org ) will fill the void left by Twitter (also see https://www.nytimes.com/2022/11/07/technology/mastodon-twitter-elon-musk.html )