--- Log opened Tue Jul 03 00:00:10 2018
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06:39 <@Dolemite> mr0ning, be0tches and h0ez!
06:42  * aestetix hugs Dolemite 
06:54 <@Dolemite> Yay, Slashdot's front page is just chock full of anti-trust and net neutrality buggery.    So much winning!
06:54 <@Dolemite> Are we tired of winning, yet?
07:03 < aestetix> because the only solution is to get the government involved
07:04 < aestetix> (people who cry out for regulation don't seem to realize that what will happen is that facebook will hire a team of lawyers to write the actual law, then lobby congress to get it passed, and it will have all kinds of exceptions for them that fuck over everyone else)
07:05 < aestetix> why else would zuck be saying "maybe we need some regulation?"
07:05 < aestetix> he clearly has lawyers with a draft of the FACEBOOK act or whatever ready to go
07:07 <@Corydon76> Or because while he's the CEO, he's getting pushback from his board of directors, and the best countermeasure he has is the bully pulpit
07:07 <@Corydon76> Companies have a responsibility to the shareholders, NOT to the general public, and it's a civil liability matter if the board does not look out for the interests of the shareholders.
07:10 < aestetix> https://www.cbs17.com/news/national-news/trump-shaped-ecstasy-pills-seized-great-again-stamped-on-back/1279237432
07:11 < PigBot> Trump-shaped ecstasy pills seized; 'Great again' stamped on back - WNCN (at www.cbs17.com) http://tinyurl.com/ydyop3hx
07:11 < aestetix> Corydon76: but he has 51% ownership. They can't do anything to him
07:11 < aestetix> maybe I'm wrong
07:11 < aestetix> http://whoownsfacebook.com/
07:11 < PigBot> Who OWNS Facebook? The Definitive Who's Who Guide to Facebook Wealth  (at whoownsfacebook.com) http://tinyurl.com/69wecn6
07:11 < aestetix> hmm that's old though
07:12 <@Corydon76> Ever tried running a company when the board of trustees resigns in protest?  The other shareholders get VERY nervous
07:12 < aestetix> Has that happened?
07:12 <@Corydon76> But yes, the board can depose the CEO
07:13 < aestetix> https://www.businessinsider.de/man-in-charge-of-the-internet-who-can-never-be-fired-is-learning-from-his-mistakes-2018-4?r=US&IR=T
07:14 < PigBot> Man in charge of half the internet, who can never be fired from his job, says he is learning from his mistakes - Business Insider Deutschland (at www.businessinsider.de) http://tinyurl.com/yawclbja
07:14 < aestetix> "We will never know if there is someone better than Zuckerberg to be CEO because he has structured the stock so that even though the company's shares are owned by the public, they are controlled by Zuckerberg alone via an arrangement in which his stock has super-voting powers that overrule everyone else's."
07:14 < aestetix> this is the part where I say I don't understand this stuff well enough to comment beyond quoting a news article
07:15 <@Corydon76> Okay, so the board chooses the candidates for the board, and the shareholders get an up or down vote
07:15 <@Corydon76> With a mass exodus, that typically triggers an investigation by the Secretary of State for whatever state the corporation is organized in.
07:16 <@Corydon76> If they determine the CEO is acting outside of the interests of the shareholders, then the state can file a lawsuit to put the company under receivership
07:17 <@Corydon76> Basically, the idea is to prevent companies from being looted and screw the shareholders.
07:18 <@Corydon76> But Zuckerberg's net worth and power derives from the stock price, so he isn't going to do anything directly to shake market confidence
07:19 <@Corydon76> And the board isn't going to do anything without being legally forced that isn't in the financial interests of the shareholders.
08:32 <@Corydon76> https://www.youtube.com/watch?v=1I2SuS2Z1JM
08:32 < PigBot> HOW TO MAKE COLORED SMOKE GRENADES (at www.youtube.com) http://tinyurl.com/zu68mns
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13:02 <@Dagmar> Also, it's perfectly reasonable for Zuckerburg to have that kind of control arrangement, because if you remember, they forced him to make the company go public in the first place
13:35 <@Dagmar> While the government can privatize an industry if it decides it's necessary to do so, large groups of investors cannot legally force someone to sell controlling interest in their own, exclusively-owned company
15:57 <@dasunt> LOL:  https://mashable.com/2018/07/03/second-civil-war-letters-alex-jones-conspiracy/#HuIW8mHHSiq1
15:57 < PigBot> The internet mocks Alex Jones' conspiracy theory with #SecondCivilWarLetters (at mashable.com) http://tinyurl.com/yacw2yl5
19:02 < K`Tetch_> and now marc randazza signs on to defend jones in the sandy hook libel suits
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--- Log closed Wed Jul 04 00:00:11 2018