Mist and Chocolate

"Why does every corporation pursue endless growth?" Fiduciary duty to shareholders.

"Why do corporations treat workers the way they do?" Fiduciary duty to shareholders.

"Why do corporations make such bass-ackwards decisions about what's 'good for' the company?" Fiduciary duty to shareholders.

The legal purpose of a corporation with shareholders -- its only true purpose -- is the generation of revenue/returns for shareholders. Period. That's it. Anything else it does is secondary to that. Sustainability of business, treatment of workers, sustainability and quality of product, those things are functionally and legally second to generating revenue for shareholders. Again, period, end of story. There is no other function of a corporation, and all of its extensive legal privileges exist to allow it to do that.

"But Spider," you might say, "that sounds like corporations only exist in current business in order to extract as much money and value as possible from the people actually doing the work and transfer it up to the people who aren't actually doing the work!"

Yes. You are correct. Thank you for coming with me to that realization. You are incredibly smart and also attractive.

You might also say, "but Spider, is this a legal obligation? Could those running a company be held legally responsible for failing their obligations if they prioritize sustainability or quality of product or care of workers above returns for shareholders?"

Yes! They absolutely can! Isn't that terrifying? Also you look great today, you're terribly clever for thinking about these things. The board and officers of a corporation can be held legally responsible to varying degrees for failing to maximize shareholder value.

And that, my friends, is why corporations do things that don't seem to make any fucking sense, and why 'continuous growth' is valued above literally anything else: because it fucking has to be.

If you're thinking that this doesn't sound like a sustainable economic model, you're not alone. People who are much smarter than both of us, and probably nearly as attractive, have written a proposal for how to change corporate law in order to create a more sensible and sustainable economy. This is one of several proposals, and while I don't agree with all of this stuff, I think that reading it will really help people as a springboard to understanding exactly why our economy is as fucked up as it is, and why just saying 'well then don't pursue eternal growth' isn't going to work -- because right now it legally can't. We'd need to change -- and we can change -- the laws around corporate governance.

This concept of 'shareholder primacy' and the fiduciary duty to shareholders is one I had to learn when I was getting my securities licenses, and every time I see people confusedly asking why corporations try to grow grow grow in a way that only makes sense if you're a tumor, I sigh and think, 'yeah, fiduciary duty to shareholders.'

(And this is why Emet and I have refused to seek investors for NK -- we might become beholden to make decisions which maximize investor return, and that would get in the way of being able to fully support our people and our values and say the things we started this company to say.)

i wrote this while working in a program for new writers. on wednesdays, two of the teachers would be contractually obligated to read our writing aloud to the group of 300+ teens. i had never read my work in public before. i had something like 6k poems and was panicking about it. none of them are good enough. sometimes the train is howling. it is hard, actually, sometimes, even as an adult.

and then i thought - what is one thing i wish i could tell all of them. each of these 300 kids. what did i need to hear, at 16?

i wanted to tell them about the day you wake up, and the sun feels warm finally. i wanted to tell them about carving a life out of soapstone, your hands turning bloody. i wanted to tell them that sometimes yes - it actually does feel easy. i wanted to tell them about weddings and cookie dough and long road trips. about albums of new music and old friends laughing and the sound of snow falling.

you will learn the pattern of the train. you will learn to close your eyes when you hear the engine rumbling. you will learn to let yourself have the grey days in their lily-soft numbness. sometimes it will feel like life is wet paint, and god has smeared your canvas across a sewer grate. sometimes it will be so boring it isn’t even pronounceable - the tenacious, soundless blankness. survival isn’t just ugly nights and wild mornings. it is also the steady, unimportant moments. it is just driving with your seatbelt on. it is calling a friend on the way home. it is burying your face into the fur of your dog.

when i had finished reading this poem aloud, the auditorium was silent for a solid minute. someone stood up to take a picture of where it had been projected onto a screen, and then three more people followed the action, and then - like a bad internet story, people remembered they were supposed to be clapping. kids came up to me after it - thank you for writing that. i think i hear a train coming.

i would write this differently now, i think, but it has been 7 years. i still live by the tracks. i also haven’t picked up a blade in over 10 years. the scars are still there, but these days i only pick up scissors to cut my hair. i know why you can’t tell your mom about it. i know how the numbness slips over everything, a restless horrible cotton. i know how when you dropped the dish, you weren’t crying about the broken glass. i know about feeling like all the roads have closed their exits, that you aren’t supposed to still-be-here - and yet.

i am still here, and still yours, and i haven’t forgotten. what i’m saying is if any hope is calling to you - i know it’s hard, but you have to listen. i’m saying keep driving, but slow down the car. sit down in the shower, i’m not judging you. we can stay in the dark with the good hot water and do nothing but stare. notice the stab wound. make it through another tuesday.

i know what it is like to miss yourself. do what you need to. come home to me. i am writing to you, my past self, from the future. i’ll be waiting for you.

hey netizens! i'm not sure how many people are aware, but youtube's been slowly rolling out a new anti-adblock policy that can't be bypassed with the usual software like uBlock Origin and Pi-Hole out of the gate

BUT, if you're a uBlock Origin user (or use an adblocker with a similar cosmetics modifier), you can add these commands in the uBlock dashboard to get rid of it!

youtube.com##+js(set, yt.config_.openPopupConfig.supportedPopups.adBlockMessageViewModel, false) youtube.com##+js(set, Object.prototype.adBlocksFound, 0) youtube.com##+js(set, ytplayer.config.args.raw_player_response.adPlacements, []) youtube.com##+js(set, Object.prototype.hasAllowedInstreamAd, true)

this korean butch lady is so cool she legally changed her name to lesvos, a variation of lesbos the birthplace of sappho. which is also the name of her lesbian bar, the first one ever established in south korea in 1996.

by Comicname

Rip Jason David Frank.

I am but a humble refugee from the currently imploding hellsite of Twitter, and I have to ask - how does Tumblr work?

Yours sincerely,

An Elon Musk Disliker