Facebook Shareholders Try to Fire Mark Zuckerberg

Discussion in 'HardForum Tech News' started by DooKey, Jul 26, 2018.

  1. DooKey

    DooKey [H]ardness Supreme

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    Investment company Trillium Asset Management has filed a proposal to fire Mark Zuckerberg as chairman of the board. They say he shouldn't hold the CEO and Chairman positions simultaneously and he weakens the boards oversight. This proposal was filed after Facebook shares took a huge dive in value afterhours yesterday. Who knows if this effort will succeed, but the fireworks should be lots of fun. Personally, I'm onboard with TAM and think he needs to go.

    The investment company says this oversight has contributed to Facebook 'missing or mishandling' several 'severe controversies' in past years, which they say increases risk exposure and costs to shareholders.
     
    Last edited: Jul 26, 2018
  2. heatlesssun

    heatlesssun [H]ard as it Gets

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    Never cared for board chair and CEO as the same person. I might do FB some good to put some distance between itself and Zuckerberg as he's becoming something a meme these days.
     
  3. Calavaro

    Calavaro Whiskey & Honey

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    Ah, the long, slow slide to obscurity begins when the bean counters take over from the visionaries.
     
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  4. haste.

    haste. [H]ard|Gawd

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    Wow bold move cotton by a minority shareholder whom owns a portion of everything and is questionable...

    Never going to happen. And trillium manages a ton of asses these days. Solid ass management company ;) (sorry man had to do it)
     
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  5. Ur_Mom

    Ur_Mom I'm Not Serious

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    Good catch.

    I'm torn. I don't think he should hold both positions, but I don't think the bean counters need more control, either. They seem to always ruin things. I think Zuck is an anti-privacy fuck that wants way too much control of shit, but the bean counters ass companies would be even worse. Sell even more and get more to sell...
     
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  6. Kinsaras

    Kinsaras 2[H]4U

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    Now they have the plot for Social Network 2.
     
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  7. haste.

    haste. [H]ard|Gawd

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    Yeah - I despise Facebook and what they have created. An uncontrollable vomit of false information preying on the the self insecurities of most people and attempting to monetize it. Same with Twitter, insta, all the bs common people purge on. But it doesn't matter if it's Zuck or anyone else is in control that is the business model and I'm pretty sure I wouldn't prefer Trillium over his jackass in charge. It's obvious that is the move they are trying to make.
     
  8. The Mad Atheist

    The Mad Atheist Gawd

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    Need to fire the people who are handling the community standards system as it's being abused.
     
  9. bugleyman

    bugleyman [H]ard|Gawd

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    It is my understanding that Zuckerberg has fastidiously maintained a controlling interest in FB, which would make this an empty gesture, no?
     
  10. Cyraxx

    Cyraxx 2[H]4U

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    There is nothing ol' Zucky can do about this. It's like any fad when it comes to technology in life, eventually it is no longer cool and people leave.

    The moment mom and dad signed up for Facebook is the moment it was no longer cool.... It simply took this long for it materialize. They reached their mt. everest peak and now it's all downhill from here as the next generation swoops onto stuff like Instagram... then the next generation leaves that.

    The only tech company that will forever be dominant is Google.
     
  11. JargonGR

    JargonGR Limp Gawd

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    Unless they meet with their "Yahoo" moment although they have their eggs in more baskets...
     
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  12. heatlesssun

    heatlesssun [H]ard as it Gets

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    Forever is a long time and of the big five, Apple, Amazon, Alphabet, Microsoft and Facebook, I don't see any of them going away in our lifetimes barring some global catastrophe or deep corruption inside one of those companies, like lying on financial statements, etc.
     
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  13. Mega6

    Mega6 [H]ard|Gawd

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    Shareholders should have bought AMD.
     
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  14. Krazy925

    Krazy925 2[H]4U

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    I see several of those companies becoming more like IBM. They’ll have to mature to reach that point, but I do see two able to go that way.

    Also unrelated to Heatless’ comment. Facebook owns insta so I doubt it’s that big of a deal.
     
  15. Comixbooks

    Comixbooks Ignore Me

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    Hey invest in Facebook all the cool kids are doing it.
     
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  16. atreidesgoldenpath

    atreidesgoldenpath Limp Gawd

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    I would prefer that they just shut Facebook down entirely. That would be an awesome day for humanity.
     
  17. Comixbooks

    Comixbooks Ignore Me

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    Facebook keeps people informed otherwise I would have to rely on the newspaper as my only form of community activison and complaints.
     
  18. Nytegard

    Nytegard 2[H]4U

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    They might not disappear, and still hold some prominent position, but forever is definitely an overstatement. Kodak, Lehman Brothers, Sears... All of these were monsterous companies a few decades ago where no one could have imagined them disappearing, or being a shell of a company they once were. Even IBM a few decades ago was known as IBM and the Seven Dwarves, because that's how dominant they were in the computer industry.

    All it takes is for a few bad judgment calls, a scandal here and there, etc. Just because Facebook or Google are huge today means nothing a decade from now.
     
  19. ManofGod

    ManofGod [H]ardForum Junkie

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    *Shrug* Not much else to say.......
     
  20. heatlesssun

    heatlesssun [H]ard as it Gets

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    Indeed. But part of thriving is learning to fail and being able to recover. Obviously Microsoft failed in the mobile handset business but seems to have come out on the other side of that by being a major cloud player that might have even more upside than smartphones. In any case Apple, Amazon, Alphabet and Microsoft should all surpass $1 trillion valuations in the next couple of years, Apple could easily do it in the next week if that have solid numbers coming on July 31. It's a new game with companies of this size. Sure, nothing is set in stone but how the fuck does a $1 trillion company screwed up to the point of not being a force?
     
  21. S1B

    S1B n00b

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    At least he sold off enough FB shares before the colapse.
     
  22. Nytegard

    Nytegard 2[H]4U

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    largestcompaniesalltime082412.png

    Now, this is from 2012, so Apple will be higher, but time takes it's toll on all. Dutch East India Co. went defunct in 1799 because of a war. And The Revolutionary War didn't help either:D Obviously, the 5 largest companies are tied to monopolies and their government, so we can't really compare them. But with Standard Oil and Microsoft, both of these were also hit with anti-monopoly suits. And that's a major problem with Google, Amazon, etc. It might not be this current administration, but sooner or later, when a recession happens and a government who are favor the general public instead of the oligarchy come into power, their days will be limited.
     
  23. JStamsek

    JStamsek [H]ardForum Junkie

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    So will Scully be the new CEO?
     
  24. heatlesssun

    heatlesssun [H]ard as it Gets

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    All of these companies have enormous resources and know the history of corporate failure as well as anyone, especially Apple. And look at them now. I'm not saying they will last forever or are impervious to catastrophic failure, only that they better equipped compared to other large companies in history to handle those kinds of challenges. How many anti-Microsoft folks thought 20 years ago they were doomed. And while not nearly the dominate force they were as tech has advanced and changed, they might very well be better able now to deal with long term challenges than 20 years ago.
     
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  25. Twisted Kidney

    Twisted Kidney 2[H]4U

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    Yeah. Because Zuckerberg is the problem and not the very nature of the company's business.
     
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  26. mullet

    mullet [H]ard|Gawd

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    FTFY
     
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  27. Makaveli@BETA

    Makaveli@BETA 2[H]4U

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    I guess you never got the memo!

    Facebook owns instragram!
     
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  28. Chupachup

    Chupachup Limp Gawd

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    Yes and no. What happens if either the right combination or enough big money minority stakeholders decide to take their winnings and move on? As other minority stakeholders take interest in the sudden downturn, a fire sale begins leaving Zuckster and those not paying attention holding the bag with shares worth less than the toilet paper they'd be printed on.

    It'd be a smart move for the business for him to retire from operations and move strictly to the boardroom, if even for only a few years to get beyond the recent privacy and Russian interference issues.
     
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  29. SmokeRngs

    SmokeRngs [H]ard|DCer of the Month - April 2008

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    Leaving Zuckerberg where he is or tossing him out likely won't make much of a difference in the long run. I would be surprised if Facebook isn't at its peak and starting for a long downhill ride. Ousting Zuckerberg isn't likely to stop that but depending on who and what takes his place could increase the rate of the downhill slide in an attempt to ring out every little bit they can before the company crashes.
     
  30. tetris42

    tetris42 [H]ardness Supreme

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    So in other words, never.
     
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  31. Grimlaking

    Grimlaking 2[H]4U

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    If they boot Zukerburg it will be a mistake. If I were him I would be getting my resources together (if he hasn't already) and working toward buying back a controlling interest in the company and taking it private again. It's stupid that they want to boot the man that got them here. That's just my opinion, I could be wrong.
     
  32. Burticus

    Burticus 2[H]4U

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    Do not book face, do not own stock, do not care about the Zuck.
     
  33. alxlwson

    alxlwson You Know Where I Live

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    Your lack of care would have been better communicated by not communicating all.
     
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  34. Burticus

    Burticus 2[H]4U

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    Sure, let's be logical about things on an internet forum post about Fbook. Logic went out the window from the start.
     
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  35. alxlwson

    alxlwson You Know Where I Live

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    Lol. Yes, let's just throw it all out the window because internet.
     
  36. IcePickFreak

    IcePickFreak [H]ard|Gawd

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    I'll post the detail once I start the gofundme for Mark to help him thru these potentially trying times. He's still a young guy so this could really affect his retirement.
     
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  37. Paul_Johnson

    Paul_Johnson [H] Admin Staff Member

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    Remember when Apple got rid of Steve Jobs.....
     
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  38. mullet

    mullet [H]ard|Gawd

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    Remember when Microsoft got rid of Windows 7......
     
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  39. heatlesssun

    heatlesssun [H]ard as it Gets

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    And even on that day Microsoft didn't lose $114 billion in market cap. Indeed it's four times higher now and they just posted their first $100 billion dollar revenue year ever.
     
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  40. Satyrist

    Satyrist Gawd

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    *shrug*

    Getting shitcanned is probably what the Zuck wants. So he can run for prez in 2020. :p