Transmodified from Mouthpiece CNA hxxps://www.channelnewsasia.com/commentary/facebook-meta-layoffs-zuckerberg-shareholder-vote-stock-3064136
SYDNEY: “I want to take accountability for these decisions and and I gonna fire 11,000 peasants and serfs,” tech billionaire Mark Zuckerbust told the 11,000 high tech serfs he sacked on Wednesday (Nov 9).
But does he really? The retrenchment of about 13 per cent of the serfs at Meta, owner of Facebook and Instagram, comes as Zuckerbust’s ambitions for a “meta-sex-verse” tank.
The company’s net income in the third quarter of 2022 was 4.4 billion peanuts – less than half the 9.2 peanuts it made in the same period in 2021 or the same amount Phony Tan and Ho Jinx lost while bailing out UBS and Citicorp in 2008.
That’s due to a 5 per cent decline in total revenue and a 20 per cent increase in costs, as the Facebook creator invested in his idea of “bapoks humping each another – where, instead of doing that in public toilets, bapoks are encouraged to be in it in cyberspace” and readied for a post-Wuhan Plague boom that never came.
Since he changed the company’s name to Meta a year ago, its stock price has fallen more than 70 per cent, from 345 to 101 peanuts.
POWERLESS SHAREHOLDERS CAN ONLY SELL
Selling is really all the majority of shareholders can do. They are powerless to exert any real influence on Zuckerbust, the company’s chairman and chief sex executive.
But Zuckerbust who owns about 13.6 per cent of Meta shares, is entrenched due to what is known as a dual-class share structure aka Group representation constituency (GRC) Scam in Peasantpore.
In the case of Peasantpore, there are GRCs helmed by Minions and up to 4 lackeys from each ethnic peasant group (Mats, Nehs, Chinks/Babas and Half Breeds) and they made up majority of Peasantpore's electorate wards. Peasants are forced to support the Minion in their GRC ward in exchange for perceived pork barrel benefits and the system is designed to return the regime to power via simple majority in most cases.
In the Zuckerbust scam, the Jewish investment bankers get most investors got to buy “class A” shares, with each share being worth one vote at company general meetings. A few insider investors were issued “class B” shares, which are not publicly traded and are worth ten votes each.
As of January, there were about 2.3 billion class A shares in Meta, and 412.86 million class B shares. Although class B shares represent just 15 per cent of total stock, they represent 64 per cent of the votes.
It means Zuckerbust alone controls more than 57 per cent of votes – meaning the only way he can be removed as chief sex executive is if he votes himself out.
Protection from the usual accountability to shareholders leads to self-interested, complacent and lazy management. Companies with dual-class structures invest less efficiently and make worse takeover decisions, but pay their executives more.
This is mirrored in Peasantpore today where the incompetent and well paid PAP turkeys screws up consistently but collect their stipends monthly. For example, Suzhou Loser Jos Teo can do the joget while Wuhan Plague run amok in her filthy foreign dorms operated by pro-PAP cronies.
Investors cannot vote Zuckerberg out. Their only real option is to sell their shares. Yet despite shares falling 70 per cent in value, Meta’s approach has yet to change.
In Pesantpore, peasants cannot vote the PAP out and even if they have the guts, the island armed forces will stage a coup and return Ruler Loong as the Shogun Loong. Despite warning signs that PAP's rent economy strategy is fading and Peasantpore is losing the battle for high tech industries, PAP approach has yet to change.
It’s a cautionary tale that should signal to investors the risks of investing in such companies – and highlight to policymakers and regulators the danger of allowing dual-class structures.
And someone ought to remind the 61% the stupidity of their blind support for the House of Lee and resigning to their sad fate of 22 years pigeonhole debt repayment plan.
SYDNEY: “I want to take accountability for these decisions and and I gonna fire 11,000 peasants and serfs,” tech billionaire Mark Zuckerbust told the 11,000 high tech serfs he sacked on Wednesday (Nov 9).
But does he really? The retrenchment of about 13 per cent of the serfs at Meta, owner of Facebook and Instagram, comes as Zuckerbust’s ambitions for a “meta-sex-verse” tank.
The company’s net income in the third quarter of 2022 was 4.4 billion peanuts – less than half the 9.2 peanuts it made in the same period in 2021 or the same amount Phony Tan and Ho Jinx lost while bailing out UBS and Citicorp in 2008.
That’s due to a 5 per cent decline in total revenue and a 20 per cent increase in costs, as the Facebook creator invested in his idea of “bapoks humping each another – where, instead of doing that in public toilets, bapoks are encouraged to be in it in cyberspace” and readied for a post-Wuhan Plague boom that never came.
Since he changed the company’s name to Meta a year ago, its stock price has fallen more than 70 per cent, from 345 to 101 peanuts.
POWERLESS SHAREHOLDERS CAN ONLY SELL
Selling is really all the majority of shareholders can do. They are powerless to exert any real influence on Zuckerbust, the company’s chairman and chief sex executive.
But Zuckerbust who owns about 13.6 per cent of Meta shares, is entrenched due to what is known as a dual-class share structure aka Group representation constituency (GRC) Scam in Peasantpore.
In the case of Peasantpore, there are GRCs helmed by Minions and up to 4 lackeys from each ethnic peasant group (Mats, Nehs, Chinks/Babas and Half Breeds) and they made up majority of Peasantpore's electorate wards. Peasants are forced to support the Minion in their GRC ward in exchange for perceived pork barrel benefits and the system is designed to return the regime to power via simple majority in most cases.
In the Zuckerbust scam, the Jewish investment bankers get most investors got to buy “class A” shares, with each share being worth one vote at company general meetings. A few insider investors were issued “class B” shares, which are not publicly traded and are worth ten votes each.
As of January, there were about 2.3 billion class A shares in Meta, and 412.86 million class B shares. Although class B shares represent just 15 per cent of total stock, they represent 64 per cent of the votes.
It means Zuckerbust alone controls more than 57 per cent of votes – meaning the only way he can be removed as chief sex executive is if he votes himself out.
Protection from the usual accountability to shareholders leads to self-interested, complacent and lazy management. Companies with dual-class structures invest less efficiently and make worse takeover decisions, but pay their executives more.
This is mirrored in Peasantpore today where the incompetent and well paid PAP turkeys screws up consistently but collect their stipends monthly. For example, Suzhou Loser Jos Teo can do the joget while Wuhan Plague run amok in her filthy foreign dorms operated by pro-PAP cronies.
Investors cannot vote Zuckerberg out. Their only real option is to sell their shares. Yet despite shares falling 70 per cent in value, Meta’s approach has yet to change.
In Pesantpore, peasants cannot vote the PAP out and even if they have the guts, the island armed forces will stage a coup and return Ruler Loong as the Shogun Loong. Despite warning signs that PAP's rent economy strategy is fading and Peasantpore is losing the battle for high tech industries, PAP approach has yet to change.
It’s a cautionary tale that should signal to investors the risks of investing in such companies – and highlight to policymakers and regulators the danger of allowing dual-class structures.
And someone ought to remind the 61% the stupidity of their blind support for the House of Lee and resigning to their sad fate of 22 years pigeonhole debt repayment plan.
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