Thursday, December 08, 2016

Facebook's Investors Criticize Marc Andreessen for Conflict of Interest - Bloomberg

Pretty sure this isn't fake news; in other Facebook legal and PR full-employment news, see Facebook Struggles to Put Out Online Fires in Israeli-Palestinian Conflict (NYT)

"In August 2015, with the chief executive's blessing, Facebook's board set up a special committee, choosing the three directors who were least beholden to Zuckerberg or financially affected by the decision -- Susan Desmond-Hellmann, Marc Andreessen and Erskine Bowles -- to represent shareholders while weighing the matter, according to a regulatory filing.
But Andreessen, a venture capitalist at Andreessen Horowitz and a long-time Facebook board member, is a close Zuckerberg ally. While on the committee, Andreessen slipped Zuckerberg information about their progress and concerns, helping Zuckerberg negotiate against them, according to court documents. The documents include the transcripts of private texts between the two men, revealing the inner workings of the board of directors at a pivotal time for Facebook."
Facebook's Investors Criticize Marc Andreessen for Conflict of Interest - Bloomberg
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