Phil Spencer blames capitalism for games industry woes: 'I don't get [the] luxury of not having to run a profitable growing business'
Phil Spencer blames capitalism for games industry woes: 'I don't get [the] luxury of not having to run a profitable growing business'
Spencer said publicly traded companies have to show constant growth or else nobody will give them money.
![Phil Spencer blames capitalism for games industry woes: 'I don't get [the] luxury of not having to run a profitable growing business'](https://lemmy.ml/pictrs/image/ad52be4c-4529-48df-ae10-9135c073f0f7.jpeg?format=webp&thumbnail=256)
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I think the real problem is businesses have to grow. If most big companies weren't publicly traded then just being profitable would be enough.
Imagine making enough money to pay you and everyone else in your company a great wage one year, but it being bad because it wasn't more profit than last year.
I've seen companies phrase 8% growth as a negative because they missed their 10% growth target that they just pulled out of their own ass.
Infinite growth in an obviously finite world is such a moronic concept, yet the driving force of capitalism