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by notahacker
1038 days ago
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> at a time when valuations were soaring and there was a renewed push for an IPO. Neumann could have blocked that. "We invested in a company structured so that the CEO could hold us to ransom, and agreed the bad terms because we thought the CEO would have breached his fiduciary duty to other shareholders and blocked advantageous exits if we didn't pay his ransom first" doesn't sound any better... |
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I actually kind of respect Neumann. Not in a moral/ethical way, of course, but in a defend-yourself-at-all-times way.
He never would have gotten that payout if he hadn't legally fortified his position like he did, and then successfully maintained it through SoftBank's initial due diligence.
"Heads, I win. Tails, I win." type stuff.