the thing to keep in mind is that basically every industry in america is currently reaping the effects of over four decades of focusing exclusively on the short-term, which worked for them in the same sense as how clear-cutting forests work out. its going to take quite a while for many of them to recover and rebuild those audiences and customers, and given how the economy still has no incentive for anything but those short-terms, most of these industries are more likely to collapse and have to be rebuilt from the ground up instead.
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in reply to @margot's post:
it's driving me insane that "oops! we thought the 2020-COVID-induced growth was gonna last forever" is not only a common refrain from Companies but also ACCEPTED?
like what
i sincerely have no way of understanding how they keep stepping on these rakes besides assuming they're all either (a) hopelessly corrupt and lying, or (b) dumber than bricks. and really for any given member of the executive class, it could go either way
idk, the fact that seemingly every CEO around stepped on the same rake makes me think it's just Something They Teach Them
Having met a lot of wealthy people, they are insanely stupid and largely insulated from the consequences of that by people who will fluff their egos to get at the money
I think it's mostly executives figuring they can score a gigantic bonus for the short term profits, say "lol no takebacks," and not care if the company goes bankrupt five minutes after that
There is a third possibility that they are aware this can't last forever but desperately need to believe otherwise, whether that's to continue playing the role of a big business leader (what investor wants to hear that profit is going to go DOWN next quarter?) or to keep their own person from feeling the inevitable crash into the wall.
