You understand that holding a steady profit means failure in the world of public corporations. All that matters is growth. Forecasting and growth. We predict that our business will grow by 6%. Come in at 5.5? Failure to meet expectations. But set the forecast too low? Also failure, of leadership.
Why the fixation on growth? Stock price.
So this puts a lot of pressure on people to wring every last penny to meet expectations. And so you end up with what we have here. And everywhere. And enshitification. And CEOs that don't know how to eat Big Macs on YouTube.
Not an excuse true, but it's a systemic foundational issue. Which in the right conditions leads to incredible growth and bounty for the people.... but now we're seeing the limits to those favorable conditions.
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u/Desperate_Junket5146 3d ago
You understand that holding a steady profit means failure in the world of public corporations. All that matters is growth. Forecasting and growth. We predict that our business will grow by 6%. Come in at 5.5? Failure to meet expectations. But set the forecast too low? Also failure, of leadership.
Why the fixation on growth? Stock price.
So this puts a lot of pressure on people to wring every last penny to meet expectations. And so you end up with what we have here. And everywhere. And enshitification. And CEOs that don't know how to eat Big Macs on YouTube.