Comment by lenerdenator
19 hours ago
Well, if that's the case, it's time to hold leadership accountable, because they recklessly spent company money on hiring people who did not create value for the shareholders.
Mark Zuckerberg ultimately approved that hiring initiative, right? He's the CEO; either he approved it or he approved of the hiring of the person that handled it and likely delegated the task to that person.
Mark needs to be shown the door.
Oh wait.
Mark's on the board.
And he has majority voting power.
... I'm starting to think there might be difficulty in holding him accountable.
Oh no, poor shareholders, they must have blindsided. When did Mark gain majority voting power?
The problem isn't when he might have gotten it, it's that he could have it to begin with.
The real issue is that our systems allow for one person to effectively control hundreds of billions of dollars of capital with absolutely no one to provide any consequences if they make bad decisions with that capital.
If we really are setting this up as a for-profit, publicly-traded company, how does that system of corporate governance enforce any sort of way to make sure that Zuckerberg's ego doesn't get in the way of doing things right? Basically right now it's a sole proprietorship with window dressing.