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I have mixed feelings here, but I'm certainly not entirely negative.

Activist investors have done a great deal of real damage, mostly by demanding that sound companies sacrifice long-term planning in favor of dividends and short term wealth gain.

It's 'creative destruction', sure, but it's not about companies failing when they can't compete. It's about investors leveraging a regulatory environment to turn profit on something other than actual value creation. A system that directly rewards incumbents seems questionable, but a system where shareholders gain influence within a single company over time seems like a reasonable answer to short-termism.

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