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by yakshemash 1586 days ago
Even though he is a founder, he kind of gave up part of his right of not having to justify anything on the day the company went public. And not by that much for that matter, as he seems to have a disproportionate voting right compared to other shareholders, and can still do pretty much what he pleases even after stepping down as a CEO. There is an option to be completely free from Wall Street's vagaries, and it's called not going public. Once you have taken in investors money, it seems fair to me to have to be accountable to them. The anomaly seems to me to be the other way round here, that people who put their money into the company and undeniably contributed to the company getting to where it is now have pretty much no say on how it should be managed. This lack of accountability might be one of the reasons why poor decision making went on unchecked and led to the current situation.