Conservative politiciansderided the boardas scared of free speech.
And does it matter if a member owns company stock or not?
Venture capitalist Fred Destinwrote that in 2018, citing what he called an old Silicon Valley proverb.
The quote has been making the rounds on Twitter recently in light of Musks hostile bid.
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In other words, a board that isnt functioning effectively can definitely destroy a companys value.
‘Greed is good’
Wow, with Jack departing, the Twitter board collectively owns almost no shares!
Objectively, their economic interests are simply not aligned with shareholders.
In reality, Twitters board share ownership is very similar to other companies.
Excluding Dorsey, independent Twitter directorsheld a median ownership stake of 0.003%.
Median ownership at Muskscompany Tesla is similarly minuscule, at 0.23%.
Although our research shows boards are limited in their ability to monitor management,theyre still better than nothing.
We may soon see if hes right.
