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That was Fred's point -- Sergey and Larry hold a controlling stake still in Google. So Google's best interest is still to meet their best interests which aren't
by kylemathews 17y ago
That was Fred's point -- Sergey and Larry hold a controlling stake still in Google. So Google's best interest is still to meet their best interests which aren't necessarily financial.
- fnid 17y agoIf they put it to a shareholder vote and everyone decides leaving china is good that is fine. If they make a vote among a few insiders at the top and leave china and then it turns out billions in market cap are lost as a result, I'm almost certain there will be a lawsuit.
- andrewparker 17y agoSergey and Larry hold a controlling stake because there is a dual class of Common stock where the Founders' stock has 10x the voting power per share compared to normal Common stock. Sergey and Larry have something like 30% of the equity combined but held 85% of the voting power.
- JoeAltmaier 17y agoDoes "fiduciary responsibility" mean "represent the voting stockholders" or "represent all the stockholders"? I believe the latter. Which puts executives in a bind when those two populations differ.
- daniel-cussen 17y agoI believe by "voting power" he means the voting power if everyone turned up to vote. That's a shitload a stock, huh?