Post AuIwPtoT007uhZ0o7s by GossiTheDog@cyberplace.social
 (DIR) More posts by GossiTheDog@cyberplace.social
 (DIR) Post #AuI68FJ59T2CXCapua by gsuberland@chaos.social
       2025-05-20T14:51:59Z
       
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       @Rairii @GossiTheDog yup, except in this case it's a departure from the norm - fiduciary responsibility is something they are intimately familiar with and usually take seriously, because it has actual personal impact, but they seem to be so utterly drunk on the idea that AI investments will net them the infinite hockey stick growth that has eluded them with every other get-rich-quick investment.
       
 (DIR) Post #AuI68GcyF0XOdAuEYC by zarchasmpgmr@infosec.exchange
       2025-05-20T16:27:20Z
       
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       @gsuberland @Rairii @GossiTheDog we’ve been seeing this for decades with boards of directors. The role of the BoD is a check on idiocy. But when the CEO is a board member, and develops a cult of personality, the directors become sycophants. And these days, C-levels become directors of other companies, so it becomes a mutual back scratch environment, to put it politely.
       
 (DIR) Post #AuI68HTR5wVNFtS8KO by shironeko@fedi.tesaguri.club
       2025-05-20T16:33:51.969191Z
       
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       @zarchasmpgmr @gsuberland @Rairii @GossiTheDog the board is ultimately selected by the shareholders, it would be interesting to study if having a dysfunctional board have any impact on the share price.
       
 (DIR) Post #AuIX2luphIDsh5rgw4 by JeffGrigg@mastodon.social
       2025-05-20T20:58:53Z
       
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       @shironeko @gsuberland @GossiTheDog @zarchasmpgmr @Rairii *In Theory*, the shareholders elect the board of directors, who hire the CEO, and who manage and direct the CEO, and kick them out and replace them, if needed.*In Practice*, the CEO invites their friends to be directors, and they do likewise, so they're all directors and CEOs to each other, and the shareholders just "rubber stamp" the whole thing, as what else are they going to do?
       
 (DIR) Post #AuIX2mz7ipFW0gsdGK by shironeko@fedi.tesaguri.club
       2025-05-20T21:35:27.043854Z
       
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       @JeffGrigg @gsuberland @GossiTheDog @zarchasmpgmr @Rairii Occasionally activists investor do come in and fire the whole board, and at the minimum they can choose not be a shareholder. Which is why I say if it would be interesting if this have any measurable effect on the share price.
       
 (DIR) Post #AuImnc4pasI16QKquW by zarchasmpgmr@infosec.exchange
       2025-05-20T23:25:21Z
       
       1 likes, 0 repeats
       
       @shironeko @gsuberland @GossiTheDog @Rairii @JeffGrigg I hope some Ph.D. in a business school has studied this. But with dissertations locked behind firewalls…
       
 (DIR) Post #AuIwPtoT007uhZ0o7s by GossiTheDog@cyberplace.social
       2025-05-20T13:29:44Z
       
       0 likes, 0 repeats
       
       Another one bites the dust https://www.ft.com/content/9fdb4e2b-93ea-436d-92e5-fa76ee786caa
       
 (DIR) Post #AuIwPukbVqdBbsDEkC by GossiTheDog@cyberplace.social
       2025-05-20T13:47:31Z
       
       0 likes, 1 repeats
       
       The builder.ai story is wild. Microsoft put almost half a billion dollars into them (and lost it all). Everything crumbled when the Financial Times did a tiny amount of research on them, and realised their accounts were signed off a friend of the CEO. As soon as they hired a real auditor, they collapsed. https://sifted.eu/articles/builder-ai-auditor-founder-news
       
 (DIR) Post #AuPQGTHiQM0xOPsBkG by nanook@friendica.eskimo.com
       2025-05-24T05:22:04Z
       
       0 likes, 0 repeats
       
       @GossiTheDog youtube.com/watch?v=Tg53zeCwgn…