[int_19h]

> Both Facebook and Walmart have a fiduciary duty to their shareholders to create value for them.

I feel like the more this claim is repeated, the more pushback you're going to see against it - and rightly so.

We need to remember that corporations are themselves fictitious legal entities. They only exist because society wills them into existence, and it can do so with arbitrary strings attached - there's no natural right to form a corporation. So, if it turns out that "fiduciary duty to their shareholders to create value" inevitably leads to the abusive megacorp clusterfuck that we are seeing today, why should we be clinging to it?

[finfinfin]

It’s puzzling how many people are so ready to mask their own responsibility by shifting it to a legal entity that apparently now has a duty to do whatever it takes to generate more profit. As if individually these people wouldn’t act in unethical ways but once they put on the “I am a corporation” mask anything goes.