A consortium of Facebook investors led by Trillium Asset Management and controlling $3B in shares has put a proposal before the shareholders to fire Mark Zuckerberg for his mishandling of a string of ghastly scandals; they will lose, however, because Facebook's share structure gives Zuckerberg's personal shares more votes than other shareholders, ensuring that the company can run as a cult of personality beholden to his whims, rather than one disciplined by shareholder choices (this corporate structure is also in place at News Corp, Google, and other companies whose founders are able to raise funds in the capital markets without having to be beholden to their shareholders). Another shareholder proposal would put Zuckerberg's shares on even footing with other shares -- currently, each of Zuck's shares have ten times more votes than ordinary shares -- and this proposal will also fail. (via /.)
The public markets are hungry: as Uber and Lyft look to IPOs to let their investors -- who have been subsidizing 40-50% of every ride -- redeem their shares through sales to the public capital markets, the companies are desperate for ways to reduce their unprofitability and increase those share prices.
Pepsi's plan to pay a Russian company called Startrocket to loft an artificial constellation of cubesats with mylar sails to advertise a "nonalcoholic energy beverage" has been cancelled for unspecified reasons (the company says its prototype launch using high-altitude balloons was a "one-time event").
* whether they deserve one or not
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Who said LEGO® had to be ground bound? With The Force Flyers DIY Building Block Fly ‘n Drive Drone, you can turn LEGO® and other building-block creations into fully-functional flying machines. It’s available now in the Boing Boing Store for $39.99. This kit comes with everything you need for remote-controlled long distance flight, including a […]
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