2 ms·
"Collective" may not be the most accurate way to describe Facebook (er, "Meta"), given that its structure places it on the opposite end of the spectrum: > “Ma
by benzible 3y ago
"Collective" may not be the most accurate way to describe Facebook (er, "Meta"), given that its structure places it on the opposite end of the spectrum:
> “Mark Zuckerberg, our founder, chairman and CEO, is able to exercise voting rights with respect to a majority of the voting power of our outstanding capital stock and therefore has the ability to control the outcome of matters submitted to our stockholders for approval, including the election of directors and any merger, consolidation or sale of all or substantially all of our assets." [1]
And forget about rank-and-file; Zuckerberg overrides decisions of senior management...
> During a company meeting this month, Chief Technology Officer Andrew Bosworth said Zuckerberg made some hires over the “objections” of senior executives — and sometimes rebuffed their advice in order to fire people, according to two people who spoke on the condition of anonymity to discuss private company matters. [2]
[1] http://d18rn0p25nwr6d.cloudfront.net/CIK-0001326801/45290cc0-656d-4a88-a2f3-147c8de86506.pdf http://d18rn0p25nwr6d.cloudfront.net/CIK-0001326801/45290cc0...
[2] https://www.msn.com/en-us/news/technology/how-mark-zuckerberg-broke-meta-s-workforce/ar-AA1axVS7 https://www.msn.com/en-us/news/technology/how-mark-zuckerber...