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comma was profitable pre-investment, so Geohot has a lot of leeway to do what he wants. Besides, there is no fiduciary requirement to handle situations like th
by MacsHeadroom 4y ago
comma was profitable pre-investment, so Geohot has a lot of leeway to do what he wants.
Besides, there is no fiduciary requirement to handle situations like this in any particular way. Fiduciary duty is to keep the business operating. Maximizing profit and minimizing costs are generally good practices; but they are not (legally) fiduciary duties.
- newsclues 4y agoIgnoring other aspects, this is likely a financially viable option for recruitment marketing. I’m guessing this stance will be popular among engineers who will hear about the company and apply for jobs.
- justapassenger 4y agocomma was profitable. Geohot is open about them not being anymore, so their leeway situation is much different now. They released new HW, that gives them lower margins and volume didn’t pickup as much as they planned.