Irving Wladawsky-Berger has posted an illuminating piece titled Customer-centric Capitalism in which he convincingly argues the now dominant profit-driven businesses M.O. is in fact detrimental to society: For the last thirty years, maximizing shareholder value has replaced customer value as the key objective of many companies. But, a number of experts are now raising questions about this widespread business practice and the extreme preoccupation with short term profits that inevitably results from putting shareholders over customers. It is clear that our system of profit-driven capitalism must be modernized with a greater emphasis placed on the customer. This is already happening. A handful of companies, like Google, have adopted positive-sum or triple-bottom-line business models. Many more are using data more effectively to improve customer service wherever it impacts profit. Customer-centric capitalism is making a slow but stead...
on the social consequences of emerging tech