Some of this highlights an issue that I think about a lot (and it's obviously not just me): the duty of corporations to maximize profit of shareholders (as represented by the majority vote of the board, as I understand it) over all other concerns.
Zuckerberg writes this:
> At the heart of these accusations is this idea that we prioritize profit over safety and well-being. That's just not true.
Last I heard, he owned the voting shares of the company by a razor thin margin (~ 53%). If he owned even 0.1% less than half of the company, wouldn't this sentence be confessing to unlawful activity?
Unless, of course, we take a legalistic reading that he really means they maximize profit in the short term, but make it up in the long term by good publicity and such. But that's hardly the natural reading of what he wrote. It seems to me like he's ~ 3% of an ownership stake away from a situation where he'd be confessing to violating shareholder rights even by writing that--let alone being responsible to run the company in a way that actually does prioritize profit over safety and well-being. All of this to me seems like a flaw in the American system of financial law.
Zuckerberg writes this:
> At the heart of these accusations is this idea that we prioritize profit over safety and well-being. That's just not true.
Last I heard, he owned the voting shares of the company by a razor thin margin (~ 53%). If he owned even 0.1% less than half of the company, wouldn't this sentence be confessing to unlawful activity?
Unless, of course, we take a legalistic reading that he really means they maximize profit in the short term, but make it up in the long term by good publicity and such. But that's hardly the natural reading of what he wrote. It seems to me like he's ~ 3% of an ownership stake away from a situation where he'd be confessing to violating shareholder rights even by writing that--let alone being responsible to run the company in a way that actually does prioritize profit over safety and well-being. All of this to me seems like a flaw in the American system of financial law.