Once upon a time, I worked for a privately held multimedia company. We developed educational CD-ROM’s, which you could find on the shelf at your local retailer.
It was a small business – under 50 employees.
The impetus for doing business was pretty clear. Make great products. Make them as cost-efficiently as possible. Treat the employees well. And keep the business alive, so that all the aforementioned could continue to happen.
Well, after I moved up the ranks from Producer to Director of Product Development, something happened that changed all of those things.
The company went public.
When this happened, the CEO of the company held a meeting with all of the employees – assuring us that nothing would change…. that we’d still be about making great products and all of that – and that it would NEVER be about what the number was on the NASDAQ Small Cap.
Within 6 months, the overall focus was – you guessed it – what the number was on the NASDAQ Small Cap.
I know for certain that I’m not the first person to make this observation – but at this particular juncture, I think it’s a valid one to re-examine – that the stock market by its’ very nature is not only detrimental to this holistic model of doing business – it’s damaging to employees, consumers and the economy as a whole. Read more