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A comment on Tell HN: Confluent laying off 8% of staff. Parent comment

Re:Tell HN: Confluent laying off 8% of staff by andsoitis on Thursday January 26, 2023 @10:28AM (#34532863)
> In your hyper-financialized viewpoint, the CEO's job should be to make as much money for him/herself as possible.

No, the CEO is meant to optimize not for themselves, but for the owners of the company. If the CEO didn't do that, the board should fire them.

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Re:Tell HN: Confluent laying off 8% of staff by willcipriano on Thursday January 26, 2023 @11:04AM (#34533494)
But what if the board are optimizing for themselves as well?
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Re:Tell HN: Confluent laying off 8% of staff by andsoitis on Thursday January 26, 2023 @11:31AM (#34533915)
Then the board is breaking their fiduciary duty and the shareholders will sue them into oblivion.
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Re:Tell HN: Confluent laying off 8% of staff by willcipriano on Thursday January 26, 2023 @12:24PM (#34534951)
How would you prove it? "We thought that these stock buybacks we put on the company credit card were for the good of the shareholders long term, it's a coinsidance that it happened to increase our compensation as well, sorry it didn't work out as we thought."
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Re:Tell HN: Confluent laying off 8% of staff by andsoitis on Thursday January 26, 2023 @01:05PM (#34535835)
If you're curious to learn more then instead of debating in the abstract, it is worth learning more about:

a) how board members are compensated

b) what type of people are appointed to boards

A good start is https://www.investopedia.com/articles/wealth-management/0404...

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