I've read a few of this guys posts now and have consistently been rubbed the wrong way by them. I think I know why now. It's not that he's wrong . His analysis is reasonable and straightforward. I think it's that the basis for his analysis is ultimately a form of nihilism, coming from someone who (maybe?) used to be an idealist but was burnt by a bad experience and must now explain why believing in anything is misgui…
This question gets directly at the cause of the author's nihilism: the necessity is borne from the endless pursuit of positive quarterly growth, the "binding fiduciary duty to shareholders". Which is a lie, there is no such legally binding fiduciary duty. So the aforementioned necessity is also a lie. Companies could operate on a longer time horizon, let engineers write better code, make better products, maybe even consider societal good in their strategic planning, and still turn a healthy profit. But the cost of perhaps taking a few degrees off their YoY trend line is unacceptable to the insatiable greed of their controlling shareholders.