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micromacrofoot • yesterday at 8:40 PM • 2 replies • view on HN

fiduciary duty doesn't mean you always have to do what makes the maximum profit

avoiding the destruction of good faith with consumers is a legitimate business interest


Replies

SlightlyLeftPad • today at 12:53 AM

The overwhelming majority of incentives for executives is and always has been aligned with squeezing more value out of customers, in the form of increased margins, lowest possible costs with the highest prices the market will tolerate.

There are a few, I mean very few executives who stand firm on defending good faith toward customer happiness and quality. One of the only things stopping the spiral is competition. That’s why there’s an incentive to consolidate into a few massive conglomerates.

pessimizer • yesterday at 9:07 PM

Good faith with customers also has a monetary value, even if it is hard to calculate. This is still maximizing profits.

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