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What's wrong with Zuck running the company? He's grown it into a big business, he's steered through many challenges. He may not have always gotten it right, but
by thrusong 10y ago
What's wrong with Zuck running the company? He's grown it into a big business, he's steered through many challenges. He may not have always gotten it right, but this headline makes it sound like he needs to go... Why?
- artemisyna 10y agoZuck still is running the company. This change means that he can keep doing that while also donating 99% of his stock to charity.
- throwaway_xx9 10y agoHe's not "donating 99% of his stock to charity." He's setting up a non-taxable charity vehicle that he controls.
- sleepychu 10y agoHis original announcement said it wasn't a charity so he could lobby governments. Has he since said something to the contrary?
- tomelgin 10y agoIt is a taxable LLC. He doesn't get the tax-benefits of setting up a nonprofit, but he has much more freedom in how to use the money (e.g. including making investments vs donations, and including non-tax-deductible political activism). https://en.wikipedia.org/wiki/Chan_Zuckerberg_Initiative#Company_form_and_taxation https://en.wikipedia.org/wiki/Chan_Zuckerberg_Initiative#Com...
- thrusong 10y agoI get all of that, but why does the headline say "he gets to run the company a while longer?" That makes it sound like he's a detriment to the company.
- artemisyna 10y agoUnder the previous stock arrangement, he wouldn't have been able to both donate his stock and keep control of the company. I can see how the headline could be interpreted as Zuck being detrimental, but I don't think that was the intent.
- thrusong 10y agoAhh, OK. It seemed like some of the comments were echoing the headline.