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2012 Founders' Letter (re Effective Stock Split)
- deleted 15y ago[deleted]
- carsongross 15y agoThe more I look into capital structures, and the shenanigans that corporations can get away with, the more I like gold and private ownership. If you are a minority shareholder, as the vast majority of shareholders are, you are quite literally at the mercy of the controlling shareholders: they can dilute you at will, never cut you a dime of profits, and you are first loss if the company goes tits up. No cash flow, no control, no recourse. You are basically hoping that the controlling majority is nice to you, and that a financial instrument that doesn't produce any reasonably predictable cash flow (or, in many cases, any at all!) goes up in value in the eyes of your also-screwed peers. It's crazy. To me, anyway.
- therealarmen 15y agoPretty amazing that Larry and Sergey have been able to hold on to the reins over all these years. Props to them for having the fortitude.
- deleted 15y ago[deleted]
- fiatmoney 15y ago"Ownership" without either voting rights, or an explicit entitlement to a share of profits, seems like a contradiction in terms.
- DrJ 15y agoThe proposal is subject to the approval of a majority of the voting power of Google’s common stock, voting together as a single class, at our annual meeting on June 21, 2012. Given that Larry, Sergey, and Eric control the majority of voting power and support this proposal, we expect it to pass. what a nice way to say "we are doing this"