Does enshitification happen because companies are publicly-traded?
Isn't that a prerequisite for enshitification? Publicly-traded companies are required (by law, I think) to maximize profits for their shareholders, even if that means utterly ruining their original product (Reddit, Boeing, etc.), yes? What do you think?
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True but they dont have a knee to their neck from share holders to increase profits year over year.
Private companies still have investors and board members they're accountable to.
Cough: Blackstone KKR etc.