Civil Society

“How Twitter Pushed Stakeholders under the (Musk) Bus”

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Here.

Abstract:

This paper provides a case study of the acquisition of Twitter by Elon Musk. Our analysis indicates that when negotiating the sale of their company to Musk, Twitter’s leaders chose to disregard the interests of the company’s stakeholders and to focus exclusively on the interests of shareholders and the corporate leaders themselves. In particular, Twitter’s corporate leaders elected to push under the bus the interests of company employees, as well as the mission statements and core values to which Twitter had pledged allegiance for years.
 
Our analysis supports the view that the stakeholder rhetoric of corporate leaders, including in corporate mission and purpose statements, is mostly for show and is not matched by their actual decisions and conduct (Bebchuk and Tallarita (2020)). Our findings also suggest that corporate leaders selling their company should not be relied upon to safeguard the interests of stakeholders, contrary to the predictions of the implicit promises and team production theories of Coffee (1986), Shleifer-Summers (1988) and Blair-Stout (1999).

There is tension between the interests of owners and those of other “stakeholders”, which is why the interests of non-owner stakeholders require justification as in the linked article. The authors beg the question — they assume stakeholder interests are comparable to owner interests — then find a problem because Musk values his ownership interest in Twitter above the interests of the people he bought out and of the company’s non-owner employees. So what should Musk get in exchange for the $billions he spent? Arguments for more stakeholder rights are arguments for less property rights.

Terf War

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It’s truly become amazing to me, how very vicious the trans war is getting to be; so far, it’s only words, but only words is how unspeakable atrocities begin. And all this is over what is a vanishingly small minority, but which happens to be “the fashionable hot new thing to shock the normies with” among overexposed celebrities, activist academics, and the desperate-seeking-relevancy activists battening onto a cause to give purpose to otherwise empty lives. It’s a trend amplified a hundred times by such advocacy, and then another hundred by the leviathan of social medial; a leviathan before which established corporations and businesses tremble. Candidly, one might have expected titans of commerce (like Target and the Disney company) possessing sufficient market knowledge to stay away from advocating causes which might just might piss off a large portion of their customer base. And one might be wrong. Never underestimate the mad urge to be a dedicated follower of fashion, I guess.

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Another One Bites the Dust…

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Or perhaps and I dearly hope, only takes a small nibble and backs off in revulsion, once the target customers for the item in question have their say. I speak of the American Girl book imbroglio. A book by an in-house writer with all the proper and up-to-the-moment proggie qualifications and sympathies has been distributed as part of toy behemoth Mattel’s American Girl brand. The book, aimed at pre-teens and tweens, openly suggests changing gender by chemical and surgical means, should they not feel comfortable in their bodies as girls. By the term girls, I mean the pre-mature of the female sex. (Honestly, looking at the picture of the author, I am not surprised at her proggie leanings. Facial piercings anything but a small hole in each earlobe for earrings now constitutes a social warning for me.) Look, puberty as it is, remains a miserable and confusing enough experience for many teens. Encouraging and enabling girls to take powerful drugs to delay puberty and have their breasts surgically removed if they are a little unhappy with the form that their bodies have or are assuming … this is not helpful. Appearing to countenance keeping parents in the dark if they do not support this chemical and surgical mutilation … even more so not-good. This development with American Girl is horrifying, but, alas, not particularly surprising, given how just about every long-time and supposedly family-friendly mass establishment such as Disney has gone all-in woke for the latest social media fad. Those fond parents and grandparents who buy American Girl merch for their daughters and granddaughters are not the least bit happy about this development not the least because it’s coming on to Christmas, where indulgent generosity is expected, not least by retail outlets hoping to make up for an otherwise bleak economic year.

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Quote of the Day

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“E.g it would help America/Britain far more to close 99% of ‘conservative’ think tank activity in DC/London and put the energy and money into expanding school choice and breaking the state’s grip on education by creating new institutions, given how much of politics is downstream of education and how ineffectual most conservative thinking/activity is.”

–Dominic Cummings

Anti-Concepts

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One often reads that “gun violence” is a unitary concept, as in a recent paper entitled “Trends and Disparities in Firearm Fatalities in the United States, 1990-2021“. Yet once you go beyond the headlines, you quickly realize that (perhaps aside from some gun-related accidents) there are two primary and very different categories: homicides and suicides.

According to the paper, in 2021 the homicide rate was highest among black men age 20-24 (141.8 fatalities/100,000 people) especially in urban areas, and the suicide rate was highest among white non-Hispanic men age 80-84 (45.2 fatalities/100,000 people) especially in rural areas (check out the “heat maps” in the paper). Aside from the fact that men were involved on both counts, young urban black men and old rural white men have very little in common with regard to their activities and their reasons for pulling the trigger.

Because calling members of both categories victims of “gun death” makes as much sense as saying that people who die in floods and people who die in boating accidents are both victims of “water death”, it’s pretty clear that the anti-concept of “gun violence” is meant to serve the agenda of those who want to outlaw firearms, not to provide any useful guidance on how to prevent homicides and suicides.

What are some other good examples of such anti-concepts?