gexla
Joined 18 years ago
Joined 18 years ago
LICENSE | Relicense under the Apache License 2.0 | 7 minutes ago
"If Zuckerberg needs to pay taxes, he can sell his new zero-vote shares to raise money without diluting his voting rights. Not too many: He can “immediately sell or transfer up to 20% of the shares of Class C common stock that he receives in the Dividend, representing 10% of his overall economic stake in the Company, for any reason,” but the board “negotiated for and obtained Mr. Zuckerberg’s agreement that 80% of the shares of Class C common stock that he receives in the Dividend be subject to the Stapling Condition,” under which he can’t sell those no-vote shares without also selling some high-vote shares. The basic deal remains intact — he needs to own a meaningful chunk of shares to keep voting control — but there’s a liquidity buffer for taxes."
https://www.sec.gov/Archives/edgar/data/1326801/000162828026...
https://www.sec.gov/Archives/edgar/data/1326801/000162828026...
NOTE: Look for "Founder Alignment Agreement" in the above doc as an example if you're doing a quick scan.
https://www.sec.gov/Archives/edgar/data/1326801/000162828026...
https://investor.atmeta.com/investor-news/press-release-deta...
Odd world we live in when we don't see that as being cool. But, we're seemingly headed there. At some point, it's going to be hard to imagine something that could surprise me.
Everything else seems reasonable? Assume the worst and put the controls in place to handle that scenario? Isn't this how we approach security normally?
NOTE: NOT a security expert, so I may be talking out of my...
And it's not like this is something where we're loaned some top math genius for a limited amount of time and we have to make the most of it. Rather, this is a new high water mark. The accessibility of the results is no longer scarce. The scarcity has shifted, and that's where the focus of the math ecosystem should shift as well. And it doesn't help for a frontier community to saturate and take over messaging pipelines that were typically managed by the math ecosystem. It's not about "stay in your lane" but rather "we need coherence and be careful not to break the system."
Just two cents from someone who could screw up basic cashier math on any given day.