Larger businesses have already gone to great lengths to eliminate / curtail class actions.
I'd argue that this weakening is the root cause of a chunk of the aggregate problems I see discussed on HN.
It is in a company's interest to harm a great many people a little bit because the people often have to challenge the company as individuals rather than as a group. And the economics often make no sense in that way, so the company is functionally immune to the effects of its harm.
Further weakening the remaining viability of that case type stands to only encourage companies to commit more aggregate harms.
The bigger point is that such an incentive exists and that it is further incentivized if the individuals who are harmed are deprived of a mechanism to resist.
Reducing cost does increase profit. Profit is (basically) revenue minus cost.
> The bigger point is that such an incentive exists and that it is further incentivized if the individuals who are harmed are deprived of a mechanism to resist.
Of course. Russia is invading Ukraine right now, as causing harm can benefit you, if you don't care about harm. This isn't a business thing; it's a people thing.
It's just that the blast radius of a business's harm is much smaller than a state's, and it's possible to shape rules so that profit incentives line up (even better) with harm minimisation. There's no harm minimisation you can do when a power-hungry person gets into a political position.
I believe the reasoning went like this: food security is the big issue of our times, making agricultural products a market with a high growth potential. And big companies like Bayer have an attitude of "top 5 or nothing". Monsanto was the last "big" company up for sale with a portfolio that could push Bayer's Crop Science division to the top, even when accounting for the possibility of losing the first trial.
I believe the CEO who led the merger (with the blessing of the board) will be remembered as the plague that brought Bayer to its knees. But the rich people on the board thought the idea made sense.
$7M in compensatory damages and $325M in punitive damages sounds like almost all the dollars in this are about justice, not dispute settlement.