Re:Thoughts on Bluesky
by elfprince13 on Wednesday November 20, 2024 @01:20PM
(#42196699)
A standard C corp (and more relevantly its officers) is legally obligated to maximize profit for shareholders at the expense of any mission.
For a B-corp if the investors sue the board or CEO for breaching fiduciary duty for not maximizing profit, the response is "we were following the mission (and you knew we would be following the mission going in), GFY"
Re:Thoughts on Bluesky
by shafyy on Wednesday November 20, 2024 @05:00PM
(#42198555)
Who cares about profit? We're in the VC world now, where many companies grow quickly without making a cent of profit and then get sold off. How does a B corp help here?
For a B-corp if the investors sue the board or CEO for breaching fiduciary duty for not maximizing profit, the response is "we were following the mission (and you knew we would be following the mission going in), GFY"