> Why is it necessary for big tech companies to act this way?
This question gets directly at the cause of the author's nihilism: the necessity is borne from the endless pursuit of positive quarterly growth, the "binding fiduciary duty to shareholders". Which is a lie, there is no such legally binding fiduciary duty. So the aforementioned necessity is also a lie. Companies could operate on a longer time horizon, let engineers write better code, make better products, maybe even consider societal good in their strategic planning, and still turn a healthy profit. But the cost of perhaps taking a few degrees off their YoY trend line is unacceptable to the insatiable greed of their controlling shareholders.
This question gets directly at the cause of the author's nihilism: the necessity is borne from the endless pursuit of positive quarterly growth, the "binding fiduciary duty to shareholders". Which is a lie, there is no such legally binding fiduciary duty. So the aforementioned necessity is also a lie. Companies could operate on a longer time horizon, let engineers write better code, make better products, maybe even consider societal good in their strategic planning, and still turn a healthy profit. But the cost of perhaps taking a few degrees off their YoY trend line is unacceptable to the insatiable greed of their controlling shareholders.