Originally published at: https://boingboing.net/2019/06/05/fire-zuck.html
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Zuck seen here at the helm of Fecesbook…
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For some executives and founders, it’s all about the shareholders … until their greatness is questioned by them.
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Meh. Outside investors can get bent. They do at least as much harm as good and have driven many good companies into the ground to goose the stock price for a quarter or two. Relying on them to enforce any sort of good governance is crazy. That is what regulation is for.
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Suckers bought into a company where their vote can’t possibly matter because one person controls the company.
Congratulations Facebook Board - you’re just as valued as people who sign up to use it.
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Would voting out Zuckerburg actually change anything? Is there a privacy sympathetic executive ready to take his place? Would the board see it as anything other than “the investors are unhappy that we are not making enough money for them?”
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It’s all just speculation till the experiment is run.
So let’s answer that question!
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Almost certainly not. Also they would be right: that is almost certainly what the investors are actually unhappy about, not anything to do with privacy. Remember, the majority of these investors are investment fund managers (including hedge funds). Their bonuses depend on fund performance. They want Zuckerberg out so that they can get someone who will cut R&D spending, cut wages, increase their sales force, increase their cut on ads, find additional ways to monetize their user data, and so on. Pretending that this is anything else is just fantasy thinking.
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