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by t_mann 1456 days ago
17% of stocks != 17% of voting rights. I don't know the current numbers, but Zuck was known for aggressive use of priority shares to retain voting control of the company as he was selling shares.
2 comments

>17% of stocks != 17% of voting rights

Stock classes are the biggest robbery of modern times.

https://www.merriam-webster.com/dictionary/robbery

> larceny from the person or presence of another by violence or threat

How does Facebook’s share offering meet the definition of robbery?

That Zuckerberg was selling a product with such high demand and so little supply that he was able to sell at a very high price does not qualify as Zuckerberg robbing others. It is not even bread for a starving person, it is equity to chase returns.

It seemed obvious to me that robbery was being used in the colloquial sense (rip off)
It's not like people aren't aware of stock classes when they buy it.
Share of stock class != Share of stock class

Zuck controls 90% of the voting rights of FB: https://www.morningstar.com/articles/1061237/how-facebook-si...