5 ms·

Investors, by very definition, are (part) owners. And management is put in place by the board, that owners/investors control

anjc 10y ago
Yeah I understand, but having a stake in a company doesn't give you the right to act as an advisor to the board or management. You're aren't a worker or a consultant and you're not on the board. If they have an issue with the board then then there are manoeuvres that they can take.
- CydeWeys 10y ago
  This, and this is one such maneuver. Hell, it's just an open letter! I don't understand all the fuss over it. There are much more damaging maneuvers that are available, like lawsuits.
  - anjc 10y ago
    I don't think it's that big of a deal. I do think that it's more likely to have a negative than positive effect, in that it risks the proliferation of the negative press surrounding the company at the moment.
- stale2002 10y ago
  Yes you do have that right. Investors literally own the company. People who literally own the company are of course expected to give their opinion on matters concerning the company that they own.
  - anjc 10y ago
    You can give your opinion, you can't install yourself as a worker with your own personal goals of changing a company's culture. Again, if you have a problem with how the company is being run then you can take action.
    - kelnos 10y ago
      No one is arguing that. Please don't move the goalposts and/or set up straw men.
      - anjc 10y ago
        What I said: > you can't install yourself as a worker with your own personal goals of changing a company's culture From their letter: > As early investors in Uber, starting in 2010, we have tried for years to work behind the scenes to exert a constructive influence on company culture. What strawman?
        lkbm 10y ago
        It's not a strawman if you grant that only people installed as workers get to have influence. As the rest of the people in this thread have pointed out, that premise is false.
        anjc 10y ago
        They verbatim say they want to work behind the scenes in the company to change the culture. That's not advising or just "having influence". It's simple...they do not have a right to do this as investors unless it was part of their terms.
        kelnos 10y ago
        That's ridiculously. They certainly have a right to do that. Sure, it depends on management etc.'s willingness to listen and take the advice, but they absolutely have the right.
        anjc 10y ago
        No they do not have that right. They have the right to if management is willing as you say, which they aren't, in this case. They do also have the right to play their part in replacing the board, and they do have the right to try and pursue board membership. But they aren't entitled to work within the company to change its culture simply because they're an investor. Companies could not accept investment if this was a right extended to investors.
- JumpCrisscross 10y ago
  > having a stake in a company doesn't give you the right to act as an advisor to the board or management Delaware's General Corporation Law § 220(b) gives shareholders inspection rights. These are generally interpreted to include consultation rights. > You're aren't a worker or a consultant You're not, you're an owner. You have a more direct right to information than at-will employees or contractors.
- dragonwriter 10y ago
  > If they have an issue with the board then then there are manoeuvres that they can take. Yes, and public pressure like this is one of those maneuvers.

anjc 10y ago

Yeah I understand, but having a stake in a company doesn't give you the right to act as an advisor to the board or management. You're aren't a worker or a consultant and you're not on the board. If they have an issue with the board then then there are manoeuvres that they can take.

CydeWeys 10y ago
This, and this is one such maneuver. Hell, it's just an open letter! I don't understand all the fuss over it. There are much more damaging maneuvers that are available, like lawsuits.
- anjc 10y ago
  I don't think it's that big of a deal. I do think that it's more likely to have a negative than positive effect, in that it risks the proliferation of the negative press surrounding the company at the moment.
stale2002 10y ago
Yes you do have that right. Investors literally own the company. People who literally own the company are of course expected to give their opinion on matters concerning the company that they own.
- anjc 10y ago
  You can give your opinion, you can't install yourself as a worker with your own personal goals of changing a company's culture. Again, if you have a problem with how the company is being run then you can take action.
  - kelnos 10y ago
    No one is arguing that. Please don't move the goalposts and/or set up straw men.
    - anjc 10y ago
      What I said: > you can't install yourself as a worker with your own personal goals of changing a company's culture From their letter: > As early investors in Uber, starting in 2010, we have tried for years to work behind the scenes to exert a constructive influence on company culture. What strawman?
      - lkbm 10y ago
        It's not a strawman if you grant that only people installed as workers get to have influence. As the rest of the people in this thread have pointed out, that premise is false.
        anjc 10y ago
        They verbatim say they want to work behind the scenes in the company to change the culture. That's not advising or just "having influence". It's simple...they do not have a right to do this as investors unless it was part of their terms.
        kelnos 10y ago
        That's ridiculously. They certainly have a right to do that. Sure, it depends on management etc.'s willingness to listen and take the advice, but they absolutely have the right.
        anjc 10y ago
        No they do not have that right. They have the right to if management is willing as you say, which they aren't, in this case. They do also have the right to play their part in replacing the board, and they do have the right to try and pursue board membership. But they aren't entitled to work within the company to change its culture simply because they're an investor. Companies could not accept investment if this was a right extended to investors.
JumpCrisscross 10y ago
> having a stake in a company doesn't give you the right to act as an advisor to the board or management Delaware's General Corporation Law § 220(b) gives shareholders inspection rights. These are generally interpreted to include consultation rights. > You're aren't a worker or a consultant You're not, you're an owner. You have a more direct right to information than at-will employees or contractors.
dragonwriter 10y ago
> If they have an issue with the board then then there are manoeuvres that they can take. Yes, and public pressure like this is one of those maneuvers.