this post was submitted on 20 Oct 2023
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Jon Stewart’s Apple TV Plus show ends, reportedly over coverage of AI and China (www.theverge.com)
submitted 1 year ago by [email protected] to c/technology
248 comments fedilink hide all child comments
 

cross-posted from: https://lemmy.ml/post/6745228

TLDR: Apple wants to keep china happy, Stewart was going after china in some way, Apple said don’t, Stewart walked, the show is dead.

Not surprising at all, but sad and shitty and definitely reduces my loyalty to the platform. Hosting Stewart seemed like a real power play from Apple, where conflict like this was inevitable, but they were basically saying, yes we know, but we believe in things and, as a big company with deep pockets that can therefore take risks, to prove it we’re hosting this show.

Changing their minds like this is worse than ever hosting the show in the first place as it shows they probably don’t know what they’re doing or believe in at all, like any big company, and just going for what seems cool, and undermining the very idea of a company like Apple running a streaming platform. I wonder if the Morning Show/Wars people are paying close attention.

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[–] [email protected] 170 points 1 year ago* (last edited 1 year ago) (11 children)

"Public companies...legally have to put shareholders first."

I thought this too, but it is apparently a myth.

"There is a common belief that corporate directors have a legal duty to maximize corporate profits and “shareholder value” — even if this means skirting ethical rules, damaging the environment or harming employees. But this belief is utterly false.

To quote the U.S. Supreme Court opinion in the recent Hobby Lobby case: “Modern corporate law does not require for-profit corporations to pursue profit at the expense of everything else, and many do not.”

https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareholders/corporations-dont-have-to-maximize-profits

[–] nickhammes 33 points 1 year ago

Specifically, the thing that is wrong is the idea that the only way to uphold their fiduciary duty to shareholders is to maximize profit. They have a legal obligation to put their shareholders' interest first, and maximizing short term profit is not the only way to do this. Benefit corps give some of their revenue to a cause, sometimes companies invest in long-term stability or profitability.

[–] toasteecup 1 points 1 year ago (1 children)

Rare supreme Court w I guess? I dunno

[–] [email protected] 23 points 1 year ago (1 children)

It’s a good line in what is otherwise a very, very bad SCOTUS decision that a for-profit corporation can ignore laws protecting female employees because of the corporation’s religious beliefs.

[–] ericisshort 4 points 1 year ago

So bizarre that companies are capable of believing in gods.

[–] TheDarkKnight -3 points 1 year ago* (last edited 1 year ago)

Lol try being a CEO and answering to your shareholders about how you’re not trying to maximize profits and growth. Like it may not be legally required but you’re kind of required to just by the nature of the role itself.

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