I think it’s worth reconsider that because we have seen many examples of the same thinking throughout our society. The underlying problem is the same - hyper focus on short-term cost reduction even when it entails significant long term costs - but it doesn’t manifest identically in every sector. Once you see it however, you can recognize that pattern pushed by the same unaccountable consultants everywhere.
> hyper focus on short-term cost reduction even when it entails significant long term costs
That is exclusive to a small amount of public companies without a stable business model. So a tiny percent. That has little to do with "acting like a private business" in a competitive market. At least when you compare it to how 95%+ of business operate.
Ask yourself, why would a healthy business sacrifice long term value for short term stock price gains? I highly doubt the answer is "that's what the free market demands". No serious bank or investor would touch a business otherwise if that was a rational incentive (besides ponzi schemers).
Even among public companies (which is itself a small percentage of all businesses) that is rarely the modus operandi. It's just a meme that comes out via the inverse of survivorship bias...aka news stories of obvious failures. The only ones that could stick with pro-short-term-investor anti-consumer tactics like that around are monopolies and/or mega corporations friendly with government.
