Last Monday Elon Musk announced that he had bought about 9% of Twitter Inc.’s stock. I wrote:
One thing about this model is that it is fundamentally selfish. If you want the game to have a certain feature, and you buy the company and tell it to add the feature, and the game designers come to you and say things like “most other players do not want this feature” or “our analysis shows that if we add this feature a lot of players will quit” or “we will lose a lot of our advertising revenue if we add this feature,” you will not care. Those are not considerations that are relevant to you, as a very rich person who bought a game company to make the game more fun. You are not doing this to make everyone else happy, or to maximize the value of the business. You are doing this to maximize your own enjoyment of the game. You have a lot of money and are looking to spend it, on making the game better for you.