this post was submitted on 16 May 2024
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[–] Allonzee@lemmy.world 44 points 7 months ago* (last edited 7 months ago) (2 children)

That's kind of the enshittification of every sector as private industries have stopped caring about long term business models and only see as far as the next earnings report because private shareholders demand it under threat of legal action. A race to the bottom with no concern for any future, a fire sale.

Look at the airline industry at large. Flying, even for regular people, used to be seen as an event to look forward to. Now you get hit up for fees for literally everything that used to be part of the ticket as you're crumpled on top of one another.

Boeing is a bad actor, because our modern "free market" rigged economy now incentivizes being a bad actor. Private shareholders don't contribute to these companies, care about the quality of their products, or the satisfaction of customers, they just want moooaaaar right now. Always moaaaaar. If anyone tries to actually provide a better product/service, they may win by being bought out by the shitty industry they tried to improve, but they're bought to either kill or enshittify that company to maintain their oligopoly that screws both customers and employees to maximize private shareholder profit at all other expense.

This is why the customers first, employees second, investors third model business tossed aside in the 70/80s was so vital. Nothing happens without customers and employees, no profit, no product. Shareholders are just needy baby leeches that contribute no labor and demand moar profit every feeding, and they have ALL the power.

Our economy should punish the private shareholder model and reward a cooperative model that rewards active and former labor contributors to a profiting business commensurate with the labor/expertise/duration of contribution they provide. Won't happen, the owners will see to it we collapse before they let their captured government put them in check, but it needs to.