Posted on 05/30/2019 8:02:48 AM PDT by C19fan
Facebook founder Mark Zuckerberg is facing a vote calling for him to stand down at the firm's annual shareholder meeting, being held today.
It comes after calls for the CEO to stand down as chairman of the board and appoint a new successor.
The move is unlikely to pass without Zuckerberg's agreement, however, as he controls 58 per cent of the vote.
(Excerpt) Read more at dailymail.co.uk ...
Yeah if they bought shares at 20 bucks 7 years ago they’ve only made 900 percent profit :)
I’d embrace that suck.:)
Twitter is another story...
Liberals investing capitalist money in an ultra-liberal company hoping to become filthy rich capitalists so they can pretend to care about the ordinary folk.
A lot of hand wringing goes on about the influence Facebook has on people’s behavior and politics. I think a lot of us tried it and got burned out quickly. 10 years from now Facebook will probably be something kids won’t even know about.
Well said I think that’s part of what’s going on here.
Virtue signaling by owning Facebook?
I never understand how companies like Facebook or Uber have any market value. They don’t seem to have any tangible Assets in their business. Of course I understand the stock has value if there are willing buyers and sellers. If I owned such stick, I would worry that the bottom will fall out of their business eventually.
Gotta love the irony, of the board trying to get rid of the guy who started the company.
They did the same thing to Steve Jobs. Apple tanked shortly after and they had to purchase Next Computer years later to get him back.
Hey, let’s all go over to MySpace and talk about it.
I then sold when he reached $30.
No wonder I am still working!
Lol
I bought Apple PRE SPLIT at 18.
Heard some nonsense on CNBC and sold it
It o ly went up about 5,000 percent.
I bought 20k worth.
What would I have done with an extra million anyway?
I would miss my side job running around like an 18 year old :)
It is what it is as pop would have said.
Down with $500 T-shirt guy!
Facebook is a treasure trove of information and spying for the intelligence agencies; and people voluntarily provide their info. ANy coincidence Lifelog was shut down the day Facebook went live?
It should be against the law for an inventor of a company to be voted out of his own company. That is some nasty nonsense the United States allows. Trump should do an immediate EO and stop this.
You wrote: “It should be against the law for an inventor of a company to be voted out of his own company. That is some nasty nonsense the United States allows. Trump should do an immediate EO and stop this.”
I certainly hope that Mr. Trump does not do that. I don’t think he would even consider it for a second.
If the majority of the shareholders don’t want the inventor/founder of the company to run the company, it is their decision. If it is a bad decision, the shareholders will pay for it. After all, they put up the money, they own the company, they own the patents.
If an inventor does not want to lose control of his company, he should not take it public and if he does, he needs to retain ownership of a majority share of stocks to retain control. Of course, the decision not to take a stock public, might ultimately end up in the failure of the business, and the inventor ending up a poor man instead of a rich one.
On the other hand, if his invention has created a huge industry, it may be extremely profitable give up control of his massive company.
Besides which, if Pres. Trump did issue such an EO, the courts would never go along with it. And I think congress, which is heavily influenced by big money, would quickly pass legislation against it. In this case, it would be good legislation.
Don’t forget too, such an EO would destroy the ability of the inventor/founder to raise the capital he needs, and that could hurt economy immeasurably. Big industry needs big capital!
I guess it’s hard for me to wrap my head around someone losing the business they started.
once he went public he gave up actual ownership ...
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