The hottest Corporate Governance Substack posts right now

And their main takeaways
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Top Business Topics

Welcome to Asimov's Addendum

Asimov’s Addendum • 79 implied HN points • 31 Jul 24
🕹 Technology AI Ethics Robotics Human Values Algorithm Design Corporate Governance
  1. Asimov's Three Laws of Robotics were a starting point for thinking about how robots should behave. They aimed to ensure robots protect humans, obey commands, and keep themselves safe.
  2. A new approach by Stuart Russell suggests that robots should focus on understanding and promoting human values, but they must be humble and recognize that they don’t know everything about our values.
  3. The development of AI must consider not just how well machines achieve goals, but also how corporate interests can affect their design and use. Proper regulation and transparency are needed to ensure AI is safe and beneficial for everyone.

MAPS: Half-Baked Governance

Nongaap Investing • 47 implied HN points • 19 Dec 24
💰 Finance Corporate Governance Stock Market Investment Strategies Mergers & Acquisitions
  1. WM Technology's stock price is reacting to a non-binding buyout proposal. The offer of $1.70 per share seems low compared to the company's potential growth targets.
  2. The recent appointment of a new CEO and his equity compensation raises red flags about the timing and motivation behind the proposal. There are concerns about whether the company is acting in the best interests of all shareholders.
  3. The governance practices at WM Technology may involve manipulation, especially regarding stock compensation and the timing of news releases. This creates distrust among investors about the sincerity of the management's intentions.

Why Tesla Won't Grant Musk More Stock Options

lawrence’s Substack • 279 implied HN points • 09 Apr 24
💼 Business Corporate Governance Stock Options Tesla Elon Musk Automotive Industry
  1. Restoring Musk's 2018 compensation package could lead to lawsuits for breach of fiduciary duty and corporate waste
  2. Tesla's current business environment in 2024 is different, with increased competition and decreased public interest in electric vehicles
  3. Musk's tactics to boost Tesla's share price were unsustainable, leading to a declining market cap and questionable promises that were left unfulfilled

Your ideas for improving capitalism

The Novelleist • 445 implied HN points • 17 Oct 24
💼 Business Economics Corporate Governance Innovation Sustainability Social Responsibility
  1. Employee ownership and cooperatives can help create a fairer economy. When workers own part of their companies, they may feel more invested in their success.
  2. Protecting housing as a basic need is important. Just like utilities, housing should be safe from big corporations that inflate prices and make it hard for everyday people to afford a home.
  3. Encouraging pro-social behavior, like investing in renewable energy, can help tackle climate change. Companies can be incentivized to do better for the environment and communities.
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It’s good business, but knee-bending is gross

Alex's Personal Blog • 32 implied HN points • 06 Jan 25
💼 Business Corporate Governance Market Trends Economic Policy Investment Strategies
  1. Chip stocks are doing well because of high demand for AI servers, especially after positive news from Foxconn. This growth indicates a strong start for the tech sector in 2025.
  2. There are concerns about the current concentration of power in US politics, particularly with Trump in charge. Many companies feel the need to align with him for their business safety, which is seen as distasteful.
  3. Sam Altman believes we are making progress toward advanced AI and that it could significantly change industries. He is optimistic about the future of AI, stating it could lead to greater innovations and prosperity.

As executive compensation at big automakers soars, so does health care costs for the companies, workers

HEALTH CARE un-covered • 759 implied HN points • 18 Sep 23
💼 Business Corporate Governance Executive Compensation Labor relations Health Insurance Economic Inequality
  1. CEO pay at big automakers is very high, while worker pay has stayed low, causing frustration among workers. This gap in pay creates issues in labor negotiations and workers' struggles for fair wages.
  2. Healthcare costs for companies like GM are increasing significantly, which takes away funds that could be used for paying workers better. This trend is leading to workers facing higher deductibles and premiums.
  3. Despite the high pay for CEOs, the stock performance of companies is often underwhelming, raising questions about whether these leaders are meeting their performance goals.

Worker Autonomy: A Natural Law of Labor

Rethinking Software • 199 implied HN points • 26 Nov 24
💼 Business Labor Rights Workplace culture Management Practices Corporate Governance
  1. Workers should have the freedom to choose how they do their tasks. This independence is important for their dignity and should be respected by employers.
  2. The relationship between workers and management should be based on trust and mutual benefit, not fear. Workers are not property and should not be treated as such.
  3. Economic dependence makes it hard for workers to stand up for themselves. To create a better workplace, we need to help workers feel more secure and empowered.

Billion Dollar Brawls

DeFi Education • 579 implied HN points • 08 Jul 23
🔮 Crypto Blockchain Investing Legal Market Trends Corporate Governance
  1. Corporate disputes often stay focused on the companies involved rather than personal attacks. It's usually safer for individuals to keep their personal lives out of these brawls.
  2. When personal details are revealed during corporate fights, it can make things messy. Wealthy people prefer to keep their personal and financial lives private.
  3. Going after someone personally in a business conflict is rare because it can lead to unwanted public attention and legal trouble. People tend to respect boundaries in these situations.

The Anti-Acc Revolution

Malt Liquidity • 13 implied HN points • 05 Jan 25
💰 Finance Investing Economics Market Analysis Regulations Corporate Governance
  1. The economy is facing serious issues and many people lack trust in institutions. There's a need for immediate change to prevent further decline.
  2. The relationship between major figures like Elon Musk and Donald Trump could shape the future of technology and business. Their actions might determine which companies thrive or struggle.
  3. Current educational and financial systems are broken. There should be better pathways for young people to learn skills and contribute, rather than being overwhelmed by debt and unhelpful degrees.

Failing upwards

davidj.substack • 35 implied HN points • 18 Nov 24
💼 Business Risk management Corporate Governance Investment strategy Human Resources Data Analysis
  1. Taking risks is a natural part of business. Employees at all levels face risks, and their roles should help manage those risks effectively.
  2. Data teams need to engage with business risks and help optimize rewards. Building data infrastructure should only be a means to support this goal.
  3. Not everyone is suited for risk-taking roles in the private sector. Some people may excel at politics but fail to deliver real results, which leads to inefficiencies in recruitment.

[PQ] PLTK: Playing Bad (Governance) Odds

Nongaap Investing • 5 implied HN points • 21 Jan 25
💰 Finance Investing Market Analysis Corporate Governance Risk management Financial Strategy
  1. Bad governance can sometimes lead to unexpected investment opportunities. It means that when things look risky or poorly managed, there might be a chance for profit.
  2. Investors need to carefully assess the risks before jumping in. Just because something seems like a good deal doesn't mean it won't come with surprises.
  3. Understanding the company's governance and management style is important. Knowing how they operate can help you make better investment decisions.

Revisiting Stock Buybacks

Fish Food for Thought • 6 implied HN points • 22 Jan 25
💼 Business Finance Investments Corporate Governance Market Analysis Economic Policy
  1. Companies that buy back their stock instead of investing in research and development may reduce innovation. This can lead to fewer new products and a weaker market position in the long run.
  2. Stock buybacks can be a sign that a company thinks its shares are undervalued, but many companies end up overpaying for their own stock. This means that, sometimes, buybacks might not be a good investment.
  3. Critics say buybacks manipulate stock prices and benefit top executives more than long-term investors. Instead of improving the company's health, these practices could hurt its future growth and stability.

SEC Targets SolarWinds' CISO for Rare Legal Action Over Russian Hack

Zero Day • 855 implied HN points • 28 Jun 23
💼 Business Legal action Cybersecurity Financial Regulations Corporate Governance
  1. The SEC has sent notices to SolarWinds' employees over potential legal action related to the Russian hack.
  2. Receiving Wells notices is rare, especially for a CISO, and can lead to penalties and restrictions on future roles.
  3. SEC is expanding its focus on cybersecurity breaches and companies may face consequences for misleading disclosures or failing to address vulnerabilities.

Participatory Capitalism

Rethinking Software • 99 implied HN points • 24 Nov 24
💼 Business Economics Management Entrepreneurship Corporate Governance Workplace culture
  1. Many workers struggle to make ends meet while business owners and entrepreneurs often gain wealth and freedom. This gap shows that capitalism isn't working equally for everyone.
  2. Imagine creating small business environments within big companies where employees can act like owners. This could help employees gain wealth without facing the full risks of starting their own businesses.
  3. We should focus on supporting companies that empower their workers and create employee-owners. A better capitalism means more people directly benefiting from their work.

Meta (Facebook) Lesson 1: Corporate Governance

Musings on Markets • 779 implied HN points • 07 Nov 22
💼 Business Corporate Governance Investment Strategies Market Analysis Tech industry Financial Performance
  1. Corporate governance focuses on how companies are run and who gets to make decisions. It's important because when management and shareholder interests do not align, it can result in poor decisions that harm the company.
  2. Facebook's stock has dropped significantly because of issues like the slowdown in online advertising and reputational damage. These challenges highlight the need for better governance to adapt to changing market conditions.
  3. Investors often give up their voting power when companies use dual-class shares, which can limit their ability to influence management. This trend can make it harder to make necessary changes when a company's leadership is not effective.

Elevance's Q2 profits make Wall Street investors (and company executives) happy and wealthy

HEALTH CARE un-covered • 359 implied HN points • 20 Jul 23
🇺🇸 U.S. Politics Healthcare Economics Corporate Governance Social Issues Policy Analysis
  1. Elevance's profits for the second quarter were better than expected, making Wall Street investors very happy. The company is on track to earn even more this year than previously thought.
  2. The company spent less on patient care compared to previous years, which boosted their profits. However, this came at the expense of providing necessary care for low-income and vulnerable populations.
  3. Elevance is growing mainly through its Medicare and Medicaid programs, while its private insurance enrollment is declining. The growth in revenue comes from premium increases and government subsidies.

China's Vanishing Wealth

Diane Francis • 519 implied HN points • 09 Mar 23
💼 Business Economics Entrepreneurship Investment Corporate Governance Political Economy
  1. Wealthy business leaders in China are disappearing or facing government crackdowns without clear reasons. This shows a shift towards increased government control in key industries.
  2. China's past economic growth relied on free enterprise, which helped lift millions out of poverty. Now, the current leadership seems to favor a more centralized, state-controlled economy.
  3. The government's actions against successful entrepreneurs send a warning to investors about the risks of doing business in China. Many are now hesitant to engage due to fears of losing their investments.

Control, Complexity and Politics: Deconstructing the Adani Affair!

Musings on Markets • 559 implied HN points • 05 Feb 23
💼 Business Corporate Finance Market Analysis Investment strategy Economic Trends Corporate Governance
  1. The Adani Group has rapidly grown in value, but much of this rise is supported by heavy debt. This heavy borrowing raises concerns about their financial stability.
  2. Investors are worried about potential financial manipulation and the use of shell companies by the Adani family. These practices could undermine trust and lead to serious consequences.
  3. Family businesses in India, like the Adani Group, can struggle with control issues that may harm overall growth. It's important for these companies to seek outside management talent to thrive.

Tesla/Tornetta: Something's Happening Here...

The Chancery Daily • 379 implied HN points • 19 Jul 23
💰 Finance Investments Legal Business Ethics Corporate Governance Executive Compensation
  1. A settlement involving Elon Musk and Tesla is pending approval in the Delaware Court of Chancery.
  2. There are cases related to director and Elon Musk compensation known as 'Tornetta' that are interrelated.
  3. There is something unusual about the settlement which the author feels the need to address further.

India Stumbles

Diane Francis • 479 implied HN points • 16 Feb 23
💰 Finance Investing Market Trends Corporate Governance Regulatory issues Economic Impact
  1. Gautam Adani, once the richest person in India, faced huge financial losses after allegations of stock market manipulation. His companies' value dropped by $123 billion, leading to skepticism among investors.
  2. The Adani scandal impacts not just him but also India's reputation and raises concerns about its stock market regulations. Political opposition is demanding investigations into his business practices.
  3. This situation highlights the problems caused by the use of offshore entities in business and the need for greater corporate transparency. It underscores the risk of financial crises affecting India's economic growth and stability.

Facebook (Meta) Lesson 2: Accounting Inconsistencies and Consequences

Musings on Markets • 619 implied HN points • 10 Nov 22
💼 Business Accounting Finance Investing Corporate Governance Valuation
  1. Accounting mistakes can misclassify expenses, affecting a company's reported profits and overall valuation. When money is wrongly categorized, it can look like a company is performing worse than it actually is.
  2. Correctly categorizing expenses like R&D can show a company’s true financial health. For example, treating R&D as a capital expense can increase reported profits and the value of the company.
  3. Understanding these accounting practices is important for investors. If investors misjudge a company due to these accounting errors, it may lead to undervaluation, making the company look cheaper than it really is.

Facebook (Meta) Lesson 3: Tell me a story!

Musings on Markets • 539 implied HN points • 18 Nov 22
💼 Business Valuation Investing Corporate Governance Market Analysis Financial Reporting
  1. A good business valuation combines numbers with a compelling story. The story helps make sense of the numbers and gives them context.
  2. Storytelling is important for investors because it makes a business memorable and helps communicate its potential. However, numbers are crucial to maintain credibility and accountability.
  3. As market conditions change, so must a business's story. Companies like Facebook need to adapt their narratives to remain relevant and regain investor trust.

Why Did the Tesla Board Attempt to 'Ratify' Musk's Obscene Options Package Instead of Granting a New One?

lawrence’s Substack • 36 HN points • 13 May 24
💼 Business Finance Law Tax Compensation Corporate Governance
  1. The Tesla board attempted to 'ratify' Musk's 2018 options package instead of granting a new one due to legal challenges and potential losses for the company.
  2. Creating a new stock options grant for Musk would lead to massive expenses for Tesla and put the company in financial jeopardy.
  3. Musk does not want a new package as the prospects for Tesla's stock price growth have diminished, making a new reward less appealing, and also resulting in potential tax issues for him.

Elon's Twitter Play: Valuation Question or Political Rorschach Test?

Musings on Markets • 719 implied HN points • 21 Apr 22
🇺🇸 U.S. Politics Political Dynamics Corporate Governance Media influence Investment Strategies Public Perception
  1. Elon Musk's involvement with Twitter raises questions about the platform's current value and management. Some believe his takeover could bring needed changes, while others worry about his unpredictable nature.
  2. Twitter's business struggles are evident despite its vast user base and cultural impact. The platform has failed to convert engagement into significant revenue growth, leading to disappointing stock performance.
  3. Political beliefs heavily influence opinions on Musk's bid for Twitter. Supporters view it as a chance for free speech, while opponents worry about concentrated ownership and influence in media.

Kishida May Raise Corporate Taxes, Part I

Japan Economy Watch • 319 implied HN points • 30 Oct 22
💰 Finance Taxation Corporate Governance Investment Economic Policy
  1. The Japanese government is considering raising corporate taxes after years of lowering them, due to disappointing outcomes such as insufficient investment and wage hikes.
  2. The need to finance a significant increase in defense spending is a major factor in the potential corporate tax hike, as relying on deficits is seen as irresponsible.
  3. Japan has a significant amount of retained earnings due to low shareholder power, leading to companies not reinvesting the cash in the economy.

Sam Altman is back at OpenAI.

Jon’s Newsletter • 99 implied HN points • 22 Nov 23
🕹 Technology Artificial Intelligence Corporate Governance Startup Culture Leadership Changes
  1. Sam Altman has returned as CEO of OpenAI after being ousted last week. This decision came quickly after strong support from OpenAI's employees and investors.
  2. The board of directors at OpenAI is being reshaped, with new members bringing different experiences. This change aims to improve stability and governance for the company.
  3. Microsoft has shown strong support for Altman's return, highlighting the importance of his leadership and the need for effective management in the rapidly growing AI sector.

✅ The attention economy

Wadds Inc. newsletter • 59 implied HN points • 29 Jan 24
💼 Business Public Relations Marketing Consumer behavior Technology impact Corporate Governance
  1. People's attention spans are getting shorter, which affects both individuals and society as a whole. This lack of focus makes it harder to tackle big issues like climate change.
  2. There are many reasons for our diminishing attention spans, including diet, sleep, pollution, and social issues. Technology and social media are major contributors to this problem.
  3. Living without the internet can help rebuild attention. The book encourages taking steps towards improving focus for personal and societal benefit, without giving simple solutions.

Scrum is the Symptom, not the Problem

Rethinking Software • 77 HN points • 07 Aug 24
🕹 Technology Software Development Corporate Governance Agile Methodology Project management Engineering Culture
  1. Scrum is often seen as a bad tool for management, restricting developers' productivity and self-esteem. Many developers feel frustrated, yet companies keep using it because it controls people rather than empowers them.
  2. The main issue isn't Scrum itself, but a bigger problem of control in software companies. Developers often lack genuine power and are seen more as replaceable parts than valuable contributors.
  3. To truly change their working conditions, developers may need to start their own companies or work independently. This way, they can reclaim decision-making power and avoid micromanagement.

ESG's Russia Test: Trial by Fire or Crash and Burn?

Musings on Markets • 379 implied HN points • 28 Mar 22
💰 Finance Investment Market Trends Corporate Governance Risk management Sustainability
  1. ESG might not be as helpful as it claims. Many companies that invested based on ESG ratings still lost money when Russia invaded Ukraine.
  2. There are three groups within the ESG movement: revisionists who think ESG can fix everything, expansionists who want to add more criteria, and utopians who still believe in its potential despite issues.
  3. The way ESG is measured and its goals can be unclear. This confusion can lead to companies just pretending to be good instead of actually improving their practices.