alt Hacker NewsFrom Reddit discussions, if they can be trusted, there is nobody who can remove Matt from any position. It's a private company and the investors were given non-voting shares.
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rs186 • 04/03/2025
I am confused -- so if investors don't like the CEO, there is nothing they can do? Other than maybe taking their part of the money out?
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> It's a private company and the investors were given non-voting shares.
My understanding is that the investors signed proxy voting rights over to Matt. They are mostly ordinary shares, and may be revocable. [1]
[1] https://ma.tt/2021/08/funding-buyback-hiring/