[plorkyeran]

That's more of an argument against private ownership of companies over a certain size than weird voting rules for shares. Zuckerberg has merely retained the power that he would have had if Facebook had stayed private.

If Meta does collapse due to Zuckerberg's missteps and there's a lot of very angry shareholders, it's possible that it'll result in this type of split-class voting shares becoming illegal. Financial regulations tend to be reactive rather than proactive, so things default to being legal until they very clearly are a problem.

[ocdtrekkie]

Sort of, but public companies generally can grow much larger than private companies. There's something to be said for the fact that Zuckerberg is using a public company like his private company because it's architected to give everyone else less control. If it was all his money, fine whatever, but he's burning shareholder value and shareholders have no power to do anything about it, and that seems wrong, IMHO.

But yeah, I haven't checked, but to my knowledge split-class voting shares are relatively recent innovations? It may take some corporate collapses before any change is made to the regulations.

[Uw7yTcf36gTc]

they have the power to leave the stock. nobody is forcing them to be stuck with this arrangement but themselves.