this post was submitted on 21 Dec 2023
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But it's specifically capitalism. A corporation doesn't have to use capitalist principles to operate. It just has to be incorporated under local law. Worker coops are still corporations.
The problem IS capitalism, not corporations. (though allowing giant monopoly ones I'm sure is its own ill even outside of capitalism)
The problem is shareholders; The fact that extracting money out of the company is prioritised over the stability of the company. This leads to unstable companies which are vulnerable to shit like this.
WB would not be verging on the edge of bankruptcy if it was privately held.
Extracting money out is the epitome of capitalism. The entire point.
The problem is capitalism.