Comment by RachelF
5 months ago
True.
The modern company is a very very limited liability company:
- Cut corners so your jets crash and kill people (Boeing)?
- Cheat on emissions testing so your product kill people (VW)?
- Hush up drug trial results so you kills people (Pfizer)?
- Sloppy security leads to hundreds of millions of people's personal data being leaked (too many to mention)?
What happens to those in charge? Nothing. Perhaps they leave with a big golden handshake. If it's really bad, they get a don't do it again agreement with the Feds.
No accountability means no feedback/skin in the game. So nothing gets better.
Liability and retroactive clawbacks need to be introduced, particularly for very large organizations that like the government, don’t face real competition.
The EU and the FTC are slowly reintroducing the concept of liability to big corps, especially the big tech. Is the world healing?