Movies and TV Shows

5229 readers

1 users here now

General discussion about movies and TV shows.

Spoilers are strictly forbidden in post titles.

Posts soliciting spoilers (endings, plot elements, twists, etc.) should contain [spoilers] in their title. Comments in these posts do not need to be hidden in spoiler MarkDown if they pertain to the title's subject matter.

Otherwise, spoilers but must be contained in MarkDown as follows:

::: your spoiler warning
the crazy movie ending that no one saw coming!
:::

Your mods are here to help if you need any clarification!

Subcommunities: The Bear (FX) - [[email protected]](/c/thebear @lemmy.film)

Related communities: [email protected] [email protected]

founded 2 years ago

MODERATORS

[email protected]

180

Disney Mocked for Ludicrously Fake CGI "Actors" in Crowd Scene (futurism.com)

submitted 1 year ago by [email protected] to c/[email protected]

62 comments fedilink hide all child comments

cross-posted from: https://derp.foo/post/317313

There is a discussion on Hacker News, but feel free to comment here as well.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 3 points 1 year ago (2 children)

Your phrasing was "legally beholden" which suggests to me that a law exists requiring directors and officers to choose the most profitable path. The wikipedia page you linked does not mention any such law. It describes a type of lawsuit that investors can bring against those running the company.

[–] Transcendant 5 points 1 year ago (1 children)

Perhaps they didn't use the right words. Iirc the correct term is 'fiduciary duty'. A publicly traded company has a fiduciary duty to create value for shareholders.

The duties of some fiduciaries have been codified, for example, the statutory duty of skill and care which is imposed upon trustees by section 1 of the Trustee Act 2000 (TrA 2000) and the relationship between company directors and the company under the Companies Act 2006

https://www.lexisnexis.co.uk/legal/guidance/fiduciary-duties

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

Good find. I did some quick googling on this (so take it a grain of salt) and found the following:

 A breach of fiduciary duty occurs in a variety of situations, such as when the fiduciary puts his own interests before the company and shareholders or when the fiduciary engages in other behavior that could be detrimental to the company and shareholder interests, such as embezzling company funds.

I have not dug too deeply, but what little I've found says that the fiduciary must act in the best interests of the company and shareholders. As a cynic it is easy to interpret this to mean 'make as much profit as possible', which is kind of the point of investing. A look back at history sadly reenforces this.

But fiduciary duty doesn’t give one a free pass to break other laws like child labor or slavery. Yes many companies still do as evidenced by sweatshops around the world. But if one is acting in the best interests of the company, one should not be doing such things even though they are obviously profitable.

[–] Transcendant 1 points 1 year ago

But if one is acting in the best interests of the company, one should not be doing such things even though they are obviously profitable

Agreed. But then, you and I aren't CEOs... maybe it's just a meme but I'm sure there was a study that found CEOs have a much greater proportion of psychopaths than the background rate. Maybe they just don't consider ethical stuff the way we do!

[–] [email protected] 1 points 1 year ago* (last edited 1 year ago)

They are only legally beholden to do what their shareholders collectively want. While it's not necessarily just for profit, if the shareholders are only demanding more profits, that's how the company will behave.