I think one way to make capitalism suck less would be abolishing publicly owned corporations. Having shareholders to please creates pressure to grow the company’s value even when there is no good reason to. I think it would be far better if companies stayed as family owned mom and pop shops and weren’t allowed to snowball.
Remember that the only reason for the enshittification of Reddit is that it’s doing an IPO. Likewise, I recently noticed that the company that owns my local mini golf course is publicly traded. Since the course has already been built there is no room for meaningful growth and any attempt to grow the company’s value by turning visits into an ‘experience’ or a ‘package day out’ will irritate people like me who are just looking to pay to use a barbones course.
I think one way to make capitalism suck less would be abolishing publicly owned corporations. Having shareholders to please creates pressure to grow the company’s value even when there is no good reason to. I think it would be far better if companies stayed as family owned mom and pop shops and weren’t allowed to snowball.
Remember that the only reason for the enshittification of Reddit is that it’s doing an IPO. Likewise, I recently noticed that the company that owns my local mini golf course is publicly traded. Since the course has already been built there is no room for meaningful growth and any attempt to grow the company’s value by turning visits into an ‘experience’ or a ‘package day out’ will irritate people like me who are just looking to pay to use a barbones course.