Dan GillmorDec 19, 2022

If Musk "steps down" as Twitter CEO, per his latest bogus "poll", some things to remember:

1) He'll still be in control. The owner sets the policy the CEO carries out. The owner decides in the end.

2) He lies incessantly. Nothing he says can be trusted, ever.

3) Big Journalism will breathlessly cover the charade as if it meant something, and will continue to support a man who loathes honest reporting and has contempt for genuine freedom of expression.

Show threadKarl AuerbachDec 19, 2022
@dangillmor - Well, there is, in theory, some friction between majority shareholder and CEO. There's the board of directors (largely named by major shareholder). But we know how the Chicago economics nutz trained boards to kow-tow to large shareholders in the name of very short term "shareholder value".
Show threadR. Robot
@karlauerbach @dangillmor
There is no Twitter board of directors.
Dec 19, 2022 at 6:10amWeb
Show threadKarl AuerbachDec 19, 2022

@Roberto_the_robot @dangillmor - Twitter is still a Delaware corporation. (Just checked)

It seems that Delaware allows a corporation to have a board with only one member - but it still has a board. I haven't seen but one can guess that Musk is that one.

But even with one that board member has to wear two hats and clearly differentiate the roles else risk penetration of the corporation.

Musk is creating muddy waters that may invite invalidation of the corporate form.