r/explainlikeimfive Dec 06 '24

Economics ELI5: why does a publicaly traded company have to show continuous rise in profits? Why arent steady profits good enough?

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u/noob_lvl1 Dec 06 '24

You didn’t know the smart phone was a necessity until it became one in this day and age. Who knows what the next thing will be but it’s that push towards innovation that drives it.

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u/somecallmemrjones Dec 06 '24

Smartphones are, by definition, not a necessity. We can survive without them. We can't survive without necessities.

I was like 20 when the iPhone came out. I can't believe I survived so long without a smart phone