Quote:
Originally Posted by highnote
Any one customer is not important. A company with a lot of customers can treat one of them like shit and remain a going concern. Treat the majority of them like shit and eventually the business loses customers. One is a very minor stakeholder. Collectively customers are the most important stakeholder. Without a lot of customers the horsemen race for ribbons and trophies -- unless they run at tracks that have casino subsidies. Then it is socialism for the horseman and capitalism for the horseplayers.
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Before going any further with this discussion can we agree that if a racetrack went out of business that a (non-professional) bettor would not be harmed financially? Their livelihood, existence or income does not rely on whether or not they are able to bet on a horse race. If racing ceases they have lost no "stake" other than time spent learning about the game. Accordingly if they have no "stake" to lose they are by definition not a "stakeholder".
Any business without customers is out of business! Racing is not unique. It has a product and customers either buy it or go elsewhere.
