[purlane]

I think you should reread my comment, as I have already answered this. The "control" that shareholders have over the company is severely limited, and they have limited legal recourse against company leadership if they decide to use profits in a manner they disagree with, but fulfills their charter. It should be fairly obvious in my example that it is not in the best interests of the shareholders to quite literally give away profits.

[shafyy]

You live in a dream world if you think VCs that just gave $23 M to Bluesky have limited control just because it says "PBC" next to the company name.

Look at what happened at OpenAI, and that was structured as a non-profit...