Earlier quoted context omitted.
Nope. A CEO can't essentially steal from shareholders, but otherwise they have extremely broad latitude in how they engage in business. There is no legal or moral imperative to make antisocial, unethical, or short term decisions that "maximize shareholder value." This is something that morally weak people tell themselves (and others) to justify the depravity they're willing to sink to in order to satiate their greed.…
If I run an AI business, then people using more AI means more business. If noone uses my AI then I go out of business Increasing shareholder value can be done in the broadest sense by just increasing business If I fund my own business, I can control growth and _choose_ ethics over profits, in the hope that stunting growth is acceptable if my customers value ethics too, and that whomever I someday pass my company to s…
They don’t need to be excused by “well that’s their obligation.” It’s not! Actually, a person’s obligation is to act morally even when there are incentives otherwise, which is approximately all the time for nearly every person.
This is something children learn (lest they be excluded from their society) yet Very Smart People in the upper echelons of the business world conveniently forget.
> If I take capital investment, I now have a contractual agreement to provide returns on that investment. Yes failure to adhere can result in lawsuits or legal penalties.
This is not true. If you've signed a contract that says anything like this, consider getting a real lawyer.