An engineer laid off after over 16 years at Google said 'faceless' tech giants see staff as '100% disposable'
It’s not profits that need to consistently be growing, it’s perceived future value for shareholders. Buying and selling stock - that’s it.
CEOs at public companies are financially aligned with growing their stock’s value perception. Everything underneath that are tactics. And, doing so opens up new beneficial opportunities for them.
It’s why private equity is somewhat afraid of ESG…because society/younger people are starting to put more pressure on what a corporation should be standing for.
When Blackrock’s CEO says the tides are changing using the Ukraine war as an example (i.e no one pulled business out because of forced government sanctions, only public outrage + shareholders falling in line), it’s a sign that the rules of the game are changing.