Twitter Touts “Social Responsibility” But Threatens To Leave SF Over Local Taxes - SVW

Let’s make sure we’re clear on few things: board of directors have a legal responsibility to safeguard and maximize shareholder value.  Shareholder value is based solely on the price of shares ie. their financial worth.  Currently in Delaware law, there is NO provision for valuing social values.  Therefore, if shareholders pursue social value at the expense of shareholder value, the board can be sued for violating their legal responsibilities.

That being said, that is why it’s foolish for for-profit Delaware companies with shareholders to espouse the idea of social values publicly.  If they act that way, then great and then let others say you are acting in socially responsible ways.  Otherwise STFU.

And note Biz I don’t believe is on the board and assuming Jack and Ev are on it, are only 2 of many votes.  Unlike Google where Larry and Sergei kept control, Twitter’s founders clearly didn’t keep control and thus can’t promise anything like socially responsible actions.