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by civicsquid
1216 days ago
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At least in the case of Meta / Facebook, I don't think there is any pressure on the CEO. Zuckerberg owns controlling interest over the company to the point where the board of directors are essentially advisory. I believe I read that he owns over 75% of Class B shares, for which he gets 10 votes for every 1 vote that a regular Class A voter gets. That's a lot of power. This has allowed the company to ignore Wall Street in the past, which makes me think he's not suddenly concerned about Wall Street now. Whatever Zuck does is really his choice and responsibility. |
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