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by raleighm
3305 days ago
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I've got nothing against b-corps. In fact, I think they should be the default corporate form rather than one you need to opt into with specific language in the articles of incorporation (as in Delaware). But b-corps are still owned by investors. They are legally entitled to take into account considerations other than maximizing shareholder return. Whether they do or not is a separate matter; they are not obligated (although this can depend on state and type of entity, I believe). They receive funding as investments (with expectation of returns) rather than donations. Again, no problem with that as such. But if my choice is between government operated petition site and a petition site accountable to private investors (even if a b-corp), I wouldn't reflexively favor the latter. |
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