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Source WSJ article: https://www.wsj.com/tech/meta-incorporation-texas-delware-f06e8bab?mod=tech_lead_story https://www.wsj.com/tech/meta-incorporation-texas-del
by science4sail 2y ago
Source WSJ article: https://www.wsj.com/tech/meta-incorporation-texas-delware-f06e8bab?mod=tech_lead_story https://www.wsj.com/tech/meta-incorporation-texas-delware-f0...
> Last year, Delaware’s legislature made it easier for big shareholders to use stockholder agreements to assume powers normally held by a company’s board. The Delaware Chancery Court also ruled in Meta’s favor in April, dismissing a case that argued the company had to consider societal impacts in addition to chasing profits.
I wonder if this is an attempt to disempower minority shareholders (i.e. anyone that isn't Zuck)?
- bagels 2y agoYes. He saw what happened to Musk.
- hinkley 2y agoMusk got told he was too greedy about his salary. Which he was.
- _zoltan_ 2y agowithout Musk there is no Tesla.
- hinkley 2y agoI know a PayPal employee who would get a vein on his forehead if you suggested Leon had anything to do with their success. Whether it’s true or not another .1% of his net worth per year isn’t going to prove it.
- HWR_14 2y ago> another .1% of his net worth per year isn’t going to prove it. It was a 56 billion dollar pay package. That's substantial even for Elon.
- deleted 2y ago[deleted]
- tim333 2y agoMusk basically offered shareholders a deal that if he 10x ed the stock he gets 10% of that. The shareholders oked it twice but a judge in Delaware said lets block that. It wasn't really about greed. I kinda feel in business if two parties make a deal and are happy with it then it's not really the job of the courts to prevent them.
- sergiotapia 2y agowhat do you mean greedy? he made a deal and crushed the metrics necessary to hit that deal. without him there is no tesla.