[jeffhwang]

Time horizon also matters. If ads juice your financials for the next 5 years but one compromises the internal product-focused culture and relationship with customers longer term this may lead to lower overall profits in 10 years (for example). No one has a crystal ball and from a pure profit maximization perspective perhaps Tim Cook is making the right bet. But it seems risky.

And this also shows a different kind of “greenwashing” where one can launder abandonment of principles bc of fiduciary responsibility to shareholders. Eg, one could maximize profits by trading with S. Africa during apartheid, and shareholder theory would even require it. Not ideal imo!