Comment by Joeri
17 hours ago
There are companies where the CEO reports to the board, and there are companies where the board exists to keep up appearances. We’re finding out in real time Automattic is the second kind.
This should discourage investors, since an unbridled CEO is bad for them in the long term. But it won’t, because nobody thinks long term anymore.
I think another example of the second kind is Tesla. Most (all?) of the board is loyal to Musk and not Tesla, as far as I understand it.
Also because most of the investors, by ownership, are Matt.