It’s hard to make the claim that public markets overly prioritise the short term with the last weeks’ string of EV start-ups IPOs / SPAC mergers and ExxonMobile Board manoeuvre.
At the same time, founder supervoting is falling out of favor. This neatly backdoors to the same result—founders (and institutional investors, who can invest through a long-holding front end and then allocate exposure to that on the back end) gaining outsized influence over individual investors (who aren’t coördinated) and hedge funds. Seems like a lot of collateral damage.
At the same time, founder supervoting is falling out of favor. This neatly backdoors to the same result—founders (and institutional investors, who can invest through a long-holding front end and then allocate exposure to that on the back end) gaining outsized influence over individual investors (who aren’t coördinated) and hedge funds. Seems like a lot of collateral damage.