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A comment on Sam Altman is not on YC's board. So why claim to be its chair?. Parent comment

Re:Sam Altman is not on YC's board. So why claim to be its c... by fsckboy on Monday June 17, 2024 @11:35PM (#40713826)
>But it's not material.

the corporation President, VP, Secretary, Treasurer, and Board of Directors and Chairman are legally defined titles, they are material titles, they imply fiduciary duty, loyalty, etc. (CEO isn't really a thing, it was made up to point out whether the President or Chairman wielded the ultimate power in situations where the largest shareholder might be more active than passive)

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Re:Sam Altman is not on YC's board. So why claim to be its c... by s1artibartfast on Monday June 17, 2024 @11:59PM (#40713940)
Materiality depend on the question at hand.
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Re:Sam Altman is not on YC's board. So why claim to be its c... by triblemaster on Tuesday June 18, 2024 @08:43AM (#40717151)
SEC filings would be enough for materiality one would assume.
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Re:Sam Altman is not on YC's board. So why claim to be its c... by infecto on Tuesday June 18, 2024 @09:53AM (#40717893)
Not an S1 and especially for a SPAC. Nothing is truly material until an acquisition is made.
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Re:Sam Altman is not on YC's board. So why claim to be its c... by s1artibartfast on Tuesday June 18, 2024 @12:38PM (#40719717)
For what question? What is it evidence of exactly?

E.g. It doesn’t tell you what sama had for breakfast.

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Re:Sam Altman is not on YC's board. So why claim to be its c... by blindriver on Tuesday June 18, 2024 @06:30PM (#40722764)
You would not be correct. If It has to influence something. Being chairman of the board is much less prestigious or important than CEO or president which is actually doing work. Chairman of a board is a figurehead position.
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Re:Sam Altman is not on YC's board. So why claim to be its c... by Maxatar on Tuesday June 18, 2024 @12:10PM (#40719444)
This is not accurate in either California or Delaware. Only President and Secretary are legally recognized and mandatory roles, along with a third officer whose name is not legally mandated but whose role is to manage the corporation's finances, usually Treasurer.

A corporation is not required to have a Board of Directors or a Chairman whatsoever.

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