928

Why is everything in consumer / American life so fucking shitty now - and companies literally just say 'oh bc profit margins' and we're now expected to swallow that and sympathize? (lemmy.world)

submitted 1 year ago* (last edited 1 year ago) by _number8_@lemmy.world to c/asklemmy@lemmy.ml

336 comments fedilink hide all child comments

like I went to taco bell and they didn't even have napkins out. they had the other stuff just no napkins, I assume because some fucking ghoul noticed people liked taking them for their cars so now we just don't get napkins! so they can save $100 per quarter rather than provide the barest minimum quality of life features.

you are viewing a single comment's thread
view the rest of the comments

[-] sunbrrnslapper@lemmy.world 4 points 1 year ago

Dumb question: did the laws change or was it a change in trends to maximize shareholder returns?

[-] sbv@sh.itjust.works 10 points 1 year ago

There was a cultural shift in the 1970s:

From the end of World War II until the late 1970s, a retain-and-reinvest approach to resource allocation prevailed at major U.S. corporations. They retained earnings and reinvested them in increasing their capabilities, first and foremost in the employees who helped make firms more competitive.

See https://corpgov.law.harvard.edu/2019/08/22/so-long-to-shareholder-primacy/#:~:text=The%20shift%20to%20shareholder%20primacy,increase%20its%20profits.%E2%80%9D%20Subsequently%2C

[-] nitefox@sh.itjust.works 1 points 1 year ago

Why did that change?

[-] sbv@sh.itjust.works 1 points 1 year ago

I think it was a self-beneficial fad. All the rich shareholders think it's a great idea, as do many on boards (since the shareholders elect them), so it becomes dogma. All fads eventually lose their shine, as this one is.

But I'm neither an economist, nor a historian, so take my guess with a big grain of salt.

[-] cerpa@kbin.social 3 points 1 year ago

A shift in corporate mindset to maximize growth and profit. Go research Jack Welsh.

https://podcasts.apple.com/gb/podcast/part-one-jack-welch-is-why-you-got-laid-off/id1373812661?i=1000612309266

[-] satanmat@lemmy.world 1 points 1 year ago

Not at all is that a dumb question.

See the other comments.

It is much more cultural than anything else.
As the stock market moved from buy and hold for the long term to the more manic trading we see today where shit like robinhood allows everyone to trade options

this post was submitted on 26 Nov 2023

928 points (94.0% liked)

Asklemmy

43984 readers

764 users here now

A loosely moderated place to ask open-ended questions

Search asklemmy 🔍

If your post meets the following criteria, it's welcome here!

Open-ended question
Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
Not ad nauseam inducing: please make sure it is a question that would be new to most members
An actual topic of discussion

Looking for support?

Looking for a community?

Lemmyverse: community search
sub.rehab: maps old subreddits to fediverse options, marks official as such
!lemmy411@lemmy.ca: a community for finding communities

~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~

founded 5 years ago

MODERATORS