This. Every single company which has done an IPO and sold shares has sold any chance they had of being respectable. Without exception. They might remain profitable, in the short term, but they have permanently rescinded all possibility of respect or virtue, and in most cases already signed the death certificate for their company. It is impossible for a publicly traded company to do the right thing. It is sometimes possible for a private company to do the right thing, and that is only possible because of the lack of fiduciary duty to shareholders. Once you have shareholders calling your shots, you’ve sold yourself to the worst kind of devil and you’re legally required to maximize the return on those shareholders investments, meaning that honest and virtuous business dealings are immediately out the window permanently. “Money now at all costs, NOW NOW NOW” becomes the sole focus of the business and every single other consideration is banished in favor of it.

Many businesses don’t actually survive this. I wish it killed more of them.