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T-Mobile imposes $5 monthly price hike on customers using older plans
(arstechnica.com)
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this post was submitted on 23 May 2024
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I don't think you all understand, the T-Mobile CEO has a fiduciary duty to shareholders, which is a responsibility to act in their best interests and their sole interest is making money. If the CEO doesn't turn over every stone to find a way to make money or reduce costs, they're breaking the law.
Oh wait, you all do understand this horseshit better than most. Lemmy is my sane place 🥰
Making money == making as much money as possible. They just gotta stay in the black
Yes it can also be argued that stupid short-term gains like this can lead to less revenue in the long run which isn't doing your fiduciary duty.
What's sad is the fact that the whole concept of a fiduciary duty to shareholders is overused in traditional corporate culture, and they don't even need to enshittify this much in search of profit under any laws or legal contracts! For a better explainer: https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareholders/corporations-dont-have-to-maximize-profits