alt Hacker NewsNah, this is a really dangerous narrative. Shareholder primacy is a pretty recent concept (a fundamentally anti-American one) that has recently gone metastatic and is now completely self-referential.
We've Goodharted the entire premise of the profit-seeking corporation and now openly say that Goodharting it is actually the point. Maybe it should be called Meta-goodharting or something.
Edit: Since large numbers of 1) historically illiterate and 2) "ideas don't matter" type people tend to congregate on HN, it's worth saying explicitly that the takeover of shareholder primacy is empirically visible in all sorts of corporate behaviors.
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Could you elaborate? Goodharting what metric exactly and how was that different earlier?
Isn't the distribution of shares among the population instead of just a few private investors a good thing? Democratizing in a sense, everybody can participate? (If only wealth was distributed more evenly. But that's a different problem it seems.)
John D. Rockefeller, Andrew Carnegie, J. P. Morgan, Cornelius Vanderbilt, and the other robber barons of the Gilded Age have a hearty chuckle and say hi.