Comment by dmurray
2 days ago
> And most of us aren't the megacorp-owners here. We're the customers.
Actually, you're not.
In the US, something like 40% of the stock market is owned by pension funds [0], and another chunk directly by individual savers.
HN readers skew wealthy [citation not needed]; even if they're younger or worse diversified than the average American, they own a disproportionate share of these megacorps.
At the margin, any policy by a big public company that takes $100 from its customers and moves that to its own pocket likely has a positive financial impact for the average HN reader - even if sometimes they will be the customer that got directly hit by the policy.
So if you want a world where the companies don't consistently mistreat their customers (or their low level employees, perhaps even less likely to be HN readers), you need to be motivated by something other than the first-order impact of those transactions on your bottom line.
[0] https://manhattan.institute/article/who-owns-the-stock-marke...
Your argument is weak. Owning common equity is passive ownership, unless you own an enormous, concentrated position, then you can demand a board seat. Our votes at the annual meeting are mostly non-binding.