They’ve written one like that to every tech company. It’s probably just so they can repeat the conditions from before they got sued for colluding to depress employee wages. This has the same effect, except this time it’s not collusion, it’s doing their fiduciary duty because shareholders are demanding it.
they can fire and change who governs the board by using their majority share holder votes (which has been selecting short term max profit guys) but it’s a myth that they have a legal responsibility to return anything to shareholders
Oh, I very much doubt that he’s the only billionaire who’s written a letter like this to Google in the past year.
They’ve written one like that to every tech company. It’s probably just so they can repeat the conditions from before they got sued for colluding to depress employee wages. This has the same effect, except this time it’s not collusion, it’s doing their fiduciary duty because shareholders are demanding it.
the “fiduciary duty” isn’t a real thing.
they can fire and change who governs the board by using their majority share holder votes (which has been selecting short term max profit guys) but it’s a myth that they have a legal responsibility to return anything to shareholders
deleted by creator
Uh… its not illegal for an investment to not make money?
This goes through the legal cases in the US and UK that establish it isn’t generally a requirement to maximize shareholder value above all else: https://legislate.ai/blog/does-the-law-require-public-companies-to-maximise-shareholder-value