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eugenekoloyesterday at 8:05 PM6 repliesview on HN

WOuldn't proof of that be some grounds for breach of fiduciary duty?


Replies

tptacekyesterday at 8:31 PM

No. People have weird beliefs about what fiduciary duty means. It does not mean that companies are required at all intervals to maximize revenue or profit.

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jvanderbotyesterday at 8:18 PM

Dunno - is protecting yourself from high-profile criticism by doing whatever you want with assets you 100% own and are under no contractual obligation to share ... also in fiduciary duty?

minimaxiryesterday at 8:27 PM

It is not illegal to be petty during business negotiations.

umanwizardtoday at 2:42 AM

Why? Even if the common myth that public company executives must maximize profits at all costs were true, it's easy to construct a plausible explanation for why one might believe in good faith that destroying 538 rather than selling it is the best strategy to maximize profits. For example, because they think the profit they'd lose from 538 competing with their own politics offerings outweighs the amount Silver would pay for it.

8noteyesterday at 9:05 PM

the easy argument otherwise would be that if they sold the IP, they wouldnt be able to revive it in the future, and also they would have nate silver as a competitor in the space

nradovyesterday at 8:17 PM

Nope. There is really no case law to support such a legal theory.