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If any job needs to be replaced by AI, it sure would be of the executives first (lemm.ee)

submitted 10 months ago by [email protected] to c/[email protected]

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[–] [email protected] 2 points 10 months ago (3 children)

Everybody says this, that companies are always seeking their current quarter profits, but:

That is irrational and I don’t see why they’d behave that way
Ive seen no evidence that they actually do

Can anyone provide evidence that companies actually optimize for current quarter profits at the neglect of all other time spans?

[–] [email protected] 6 points 10 months ago (1 children)

I wouldn't take the meme so literally that they're only talking about current quarter profits, but just that they want growth in general.

[–] [email protected] 2 points 10 months ago (1 children)

I’m not referring to the meme but to the popular, articulated belief that companies are hyper focused on the current quarter’s profits. It’s often provided as explanation for bizarre behaviors by companies.

[–] [email protected] 2 points 10 months ago

Oh, I didn't realize a lot of people actually believed that I just figured they were being hyperbolic.

[–] [email protected] 3 points 10 months ago* (last edited 10 months ago)

Stock buybacks. Enron and WorldCom. Mass layoffs when not needed. https://sci-hub.se/http://dx.doi.org/10.2139/ssrn.52686 https://sci-hub.se/https://dx.doi.org/10.2139/ssrn.491627

[–] [email protected] 1 points 10 months ago

Companies as a whole might not always do this, but executives trying to hit their targets and get their bonus definitely behave this way sometimes