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"Society’s technology genius is not lacking, its moral genius is. Trust in Big Tech is eroding rapidly. No Big Tech company has core values that help our digital rights."

puri.sm/posts/the-future-of-co

@downey The narrative about maximizing shareholder profit is true, but Zuckerberg holds enough shares in Facebook for 53% voting rights. That means that to a large extent the abuses of Facebook aren't coming from shareholder pressure, they're coming from Zuckerberg's personal preferences.

@bob Your premise may be true, but it's quite a logical leap to the conclusion that Z has no other influences in his decision making than personal preference, simply because he's the majority shareholder.

@downey Google's arrangements are more opaque under Alphabet, but it looks like the founders still have more than 50% of the voting rights.

So although the narrative about CEOs being legally mandated to maximize shareholder returns within a conventional corporation is true in general, for the Big Tech companies it seems like not such a large factor. i.e. They can't easily pass responsibility by saying that it was the shareholders who made them do something against their better judgment. The decisions of Big Tech are coming primarily from their original founders rather than from other shareholders putting pressure upon them.
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