2019-04-03 Social Purpose Corporation

I just read The Future of Computing and Why You Should Care by Purism, the company that made my laptop.

Interesting takeaways:

Companies must exploit their users for every dollar or they might face charges from their shareholders. Uuugh!

All corporations, including all Big Tech giants, have a single goal: Maximize Shareholder Value. That’s it. That’s the only goal. But it’s not just a goal. Under eBay v. Newman, a lawsuit setting legal precedent stating: “The law makes it literally malfeasance for a corporation not to do everything it legally can to maximize its profits.”

And we need to work against this by creating more rules.

All future government regulation will be influenced, funded, and lobbied by Big Tech.

So yes, I’m interested in this social purpose corporation future. Or more cooperatives, actually. But these days, the simple fact that a company is allowed “to prioritize social objectives over fiduciary duties” is already revolutionary, I guess.

(Also, from an environmental perspective, I should have bought an old, refurbished laptop, not a new and shiny one!)



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