alt Hacker NewsGood thing there's a strong corporate governance model at SpaceX where the c-suite is fully accountable to an independent board of directors, who could use their majority voting power to remove that c-suite at will.
Could you imagine the abuse of power that could happen if one person held over 50% of the voting power at such a company?
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dweekly • today at 2:29 PM
Interestingly enough, strong corporate governance and independent directors do not produce better returns. This is a central point in Eric Rees's book Incorruptible.
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cryptoegorophy • today at 2:21 PM
Is it abuse of power or company success? Wouldn’t shareholders vote out any crazy successful ideas Elon had? Likely bankrupting companies at their early stages?
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Are super shares like Zuckerberg's and Musk a new thing? Genuinely curious if they're a recent invention or something that's quietly happened for a while because it seems like a large inversion of the deal of going public, lose some control of the company in exchange for a large amount of cash but these nonvoting/supervoting share splits seem to completely upend what I understood to be part of the deal for access to the stock market.