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Not only did they buy the shares but they bought the shares knowing the degree of control Zuckerberg had. Zuckerberg has clearly kept control of Facebook with
by joe_the_user 8y ago
Not only did they buy the shares but they bought the shares knowing the degree of control Zuckerberg had.
Zuckerberg has clearly kept control of Facebook with the idea that he had a "mission". While various folks might justifiably doubt Zuckerberg's integrity, it seems reasonable that an entity like Facebook should be run with some commitment to longer term integrity and principles. Whatever process exists clearly should be insulated from day-to-day share prices and the multiple stock voting types achieves that.
Oppositely, activist shareholder coups generally aim to extract as much money as possible as quickly as possible from a given company. It seems unlikely this approach would involve more privacy protection, less manipulation, etc. Just the opposite.
The problem of a private entity becoming the host of a lot of essentially public discourse certainly remains. The thing is that I personally trust the powerful enemies Facebook has found (mainstream media, various elected officials, etc) even less than Facebook, which speaks a bit to problems this society is having.