Meta has been under the pump lately...they've faced pressures from regulations and governments over privacy concerns.
Background: Meta has been under the pump lately...they've faced pressures from regulations and governments over privacy concerns, not to mention those reports that came out around the mental health impacts of their platforms.
What happened: Now, a group of Meta shareholders have submitted a letter asking for an independent assessment of Meta's capacity to oversee the risks with regard to public safety.
What else: Because of Meta's dual-class share structure...the wheels haven't been put into motion yet.
💡Dual-class share structures are when companies issue two kinds of shares in the same company...and one kind is more powerful than the other.
💡These structures allow holders of the more powerful shares to have more voting control over the company...which is often disproportionate to the amount of shares they own.
💡For example, 1 shareholder might have 1 share worth 1 vote...and another might have 1 share worth 10 or 100 votes. Often, it means that founding shareholders can retain more control of the company.
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