The term 'fiduciary' denotes the responsibility to represent the interests of others, especially when they are unable to do so themselves. Boards of companies are expected to act as fiduciaries for all stakeholders, but some may fail to fulfill this obligation. When a public company sells shares to retail investors, Delaware law requires the board to live up to certain obligations. This may lead to the need for appointing new board members who are willing to serve on committees and carry out their fiduciary duty, even in the face of potential resistance.
Kara and Scott talk Apple Vision Pro, Disney’s failed lawsuit against Ron DeSantis, and a $100 million deal for the Smartless podcast. Also, will Elon Musk move Tesla to Texas after a Delaware judge voided his $55 billion compensation package? Plus, the upshot of the social media companies' CEOs' testimonies on child safety. Our Friend of Pivot is New York Times reporter Conor Dougherty, who stops by to talk about his piece on the Silicon Valley bigwigs trying to build a city in California.
You can find Conor at @ConorDougherty.
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