"...into account a wide range of constituencies beyond the owners...the wider community within which they operated—what would later be called 'stakeholders.'"
—Robert Putnam & Shaylyn Romney Garrett, The Upswing
5/ But then
"sharply narrowing the focus of business management to a single group—the shareholders of the company’s stock... 'Shareholder value' (that is, the stock price) became the single metric for managerial success…”
—Robert Putnam & Shaylyn Romney Garrett, The Upswing
6/ We need a reset of corporate moral values.
Public good matters.
7/ We need a new corporate mandate.
8/ When corporate interests profit from harming the public, they must be regulated.
9/ What kind of regulation?
10/ TECH SAFETY
11/ PRIVACY
12/ COMPETITION
Facebook recently urged the U.S. District Court for DC to dismiss an @FTC anti-trust suit against the company. nytimes.com/2021/10/04/tec…
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1/ Moderna COVID vaccine minted 3 new billionaires: washingtonpost.com/business/2021/…
Yet the Moderna, which co-invented the COVID vaccine with NIH researchers at the cost of over $8B to taxpayers, refuses to step up to increase vaccine supply for low- & middle-income countries globally.
2/ Moderna doesn't want to sell its vaccine to low- & middle-income countries at cost.
Never mind it's making massive profits off the US & other high-income countries.
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