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I disagree, those shareholders know what they're getting into when they buy the stock. I do agree with just about 95% of criticism directed at Facebook, so this
by swift532 8y ago
I disagree, those shareholders know what they're getting into when they buy the stock. I do agree with just about 95% of criticism directed at Facebook, so this isn't me defending them specifically. I just don't see why dual share classes should be forbidden as long as people are properly informed when purchasing non voting ones.
If I offered you 10% of my bakery's profits but told you explicitly that you'd have no voice in how I run it, it could be a good deal for both of us and we'd both know what we're getting into.
- roguecoder 8y agoIt's not about whether it's a "good deal" for the investors: it is that as a society allowing unaccountable business dudes to run roughshod over society isn't working out so well.
- wmf 8y agoIf you eliminate dual share classes then those dudes will remain unaccountable by never going public.