The hottest Corporate Governance Substack posts right now

And their main takeaways
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Top Business Topics

The Bear Cave #260

The Bear Cave • 489 implied HN points • 09 Feb 25
💼 Business Corporate Governance
  1. New activist reports have revealed serious allegations against several companies, including Applied Optoelectronics and GeneDx Holdings, suggesting they may be involved in fraud and misleading practices.
  2. There were significant executive resignations this week from companies like Match Group and Digital Turbine, indicating possible instability within these businesses.
  3. The SEC is changing how it conducts investigations, which may slow down enforcement actions, showing a shift in regulatory approach.

Billion Dollar Brawls

DeFi Education • 579 implied HN points • 08 Jul 23
🔮 Crypto 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.

Stupid Rules For Stupid People Struck Down

Points And Figures • 639 implied HN points • 12 Dec 24
💼 Business Corporate Governance
  1. NASDAQ's rule for corporate board diversity focused too much on identity instead of qualifications. It's more important to have people with varied experiences and perspectives on the board to help businesses succeed.
  2. The legal decision to revoke certain rules about private company disclosures is seen as positive. Regulations that infringe on privacy can deter companies from going public and create unnecessary barriers.
  3. Private markets should be free from excessive regulations. Investors need to keep the identities of their shareholders confidential, and government oversight can lead to more problems than it solves.

Markets Do the Good Things That Sound Bad

Bet On It • 246 implied HN points • 10 Jun 25
💼 Business Corporate Governance
  1. Markets often get criticized for being cost-conscious and risk-aware, but these qualities can actually lead to better outcomes for society. It's important to remember that ignoring costs can create bad decisions.
  2. People think businesses focusing on profits are bad, but profit-seeking can sometimes lead to positive results. It's about balancing risks for larger gains rather than taking reckless risks.
  3. Many popular arguments against markets don't see the bigger picture. When looking at overall success and safety, richer countries with fewer regulations often fare better than poorer, heavily regulated ones.

The Bear Cave #250

The Bear Cave • 606 implied HN points • 01 Dec 24
💼 Business Corporate Governance
  1. The Bear Cave focuses on finding problems in companies that are often ignored by the mainstream. This helps identify potential short selling opportunities.
  2. The publication has tracked executive resignations and has shown that many companies with leadership changes tend to underperform in the market.
  3. Over the past few years, the companies highlighted by The Bear Cave have consistently lagged behind the S&P 500, hinting at serious issues that investors should consider.
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[2025–2026] Week 10: Warren Buffett: Berkshire Hathaway Years

Behavioral Value Investor • 37 implied HN points • 12 Dec 25
💰 Finance Corporate Governance
  1. He started as a Graham-style deep-value investor but often acted like an activist, pushing management or catalysts to realize hidden value.
  2. Over time he moved toward buying high-quality businesses and whole companies, placing more weight on management, qualitative insights, and long-term compounding than on pure quantitative bargains.
  3. Comparing his partnership years to his Berkshire years highlights practical questions to answer: what to copy or avoid, which investments were best or worst, and how his approach would adapt to different capital sizes and situations.

The Bear Cave #261

The Bear Cave • 396 implied HN points • 16 Feb 25
💼 Business Corporate Governance
  1. There's been some concern about AppLovin, a mobile app company. A researcher claims they are using a scheme that makes it look like users are rewarded for in-app purchases, which might not be genuine.
  2. Multiple company executives have recently resigned, including CEOs and CFOs from several firms. This shows instability in some companies and could affect their future performance.
  3. Some activists are raising issues about well-known companies, like Coca-Cola, and their social policies. This highlights ongoing debates around corporate responsibility and public perception.

The Bear Cave #254

The Bear Cave • 489 implied HN points • 29 Dec 24
💼 Business Corporate Governance
  1. A blogger raised concerns about SoundHound AI, saying it may be losing clients to cheaper and better technology. This could mean big changes for the company.
  2. There have been several high-profile resignations at major companies like Fastenal and Arhaus. These leadership changes could affect their future performance.
  3. The weekly tweets section highlights some interesting social media discussions related to these companies. It's a good way to see what people are saying online.

The Bear Cave #253

The Bear Cave • 489 implied HN points • 22 Dec 24
💼 Business Corporate Governance
  1. There are serious concerns about Aegon's sales tactics, which some say look like a multi-level marketing scheme.
  2. Recent investigations show JOYY's app Bigo Live is facing major issues after being removed by Google and Apple due to child abuse allegations.
  3. Multiple companies have seen rapid executive turnover, with several CEOs and CFOs resigning or being replaced in just a short time.

The Bear Cave #251

The Bear Cave • 513 implied HN points • 08 Dec 24
💼 Business Corporate Governance
  1. There are significant legal troubles for companies like LendingTree, which could face lawsuits costing hundreds of millions of dollars. This could affect their financial stability and future operations.
  2. Recent executive resignations in several companies, including Intel, suggest instability at the management level. Frequent leadership changes can indicate underlying issues within a company.
  3. Research reports from different groups are highlighting possible problems in companies like Serve Robotics and Plug Power. These findings could impact investor confidence and stock prices.

The Bear Cave #246

The Bear Cave • 559 implied HN points • 03 Nov 24
💼 Business Corporate Governance
  1. Blue Orca Capital reported that Baldwin Insurance Group has been using some tricky financial practices to make their profits look better than they actually are. They claim the company has serious profitability issues.
  2. Recent leadership changes show a lot of turnover among company executives, with several CFOs and CEOs resigning or being let go. This could indicate bigger problems within those companies.
  3. There are also activist reports about Byrna Technologies, suggesting they might be exaggerating their business success. The reports claim many of their dealers don’t really exist or aren't effective.

The Bear Cave #249

The Bear Cave • 513 implied HN points • 24 Nov 24
💼 Business Corporate Governance
  1. Multiple activist reports have raised concerns about major companies like Roblox, Oklo, and elf Beauty, suggesting issues of financial integrity and management competence. These reports could indicate potential future problems for these companies.
  2. Several key executives have recently resigned from their positions, including CEOs and CFOs from various companies. This turnover can point to instability within these organizations, potentially affecting their performance.
  3. There are ongoing investigations into companies like Zeta Global for unethical practices. Allegations of deceptive marketing and revenue manipulation highlight the importance of transparency in business.

The End of Cheap Progressive Signalling

The Ruffian • 368 implied HN points • 15 Feb 25
🇺🇸 U.S. Politics Corporate Governance
  1. Companies are reassessing their commitment to diversity, equity, and inclusion (DEI) due to increased pushback and potential risks. They're realizing that showing support can now have real consequences.
  2. The era of easy progressive signaling is over, forcing companies to reconsider their policies and be more genuine about their commitment to social causes. Some might have to rethink their actions rather than just following trends.
  3. The left needs to evaluate if some of its agenda was based on easy symbols rather than real substance. This shift might help them connect more with everyday people who felt excluded from those discussions.

Corporate Democracy in Norway

Erik Examines • 179 implied HN points • 26 Jun 25
💼 Business Corporate Governance
  1. In Norway, workers have a voice in how companies are run, with one-third of company boards elected by employees. This is different from countries like the US where employees have little say.
  2. Norway has mixed economic practices, blending capitalism with socialist ideals, allowing both workers and shareholders to have power. It's a unique approach that balances interests in the workplace.
  3. Discussions about employee rights in Norway often focus on whether they should be protected by laws or through collective agreements made by unions. This shows how employees advocate for their rights differently than in other countries.

The Bear Cave #252

The Bear Cave • 419 implied HN points • 15 Dec 24
💰 Finance Corporate Governance
  1. There are new reports about companies experiencing accounting issues and bad loans. It's important to pay attention to these signs as they could lead to financial trouble.
  2. Many executives are resigning from their positions, which could indicate instability within those companies. If a company keeps changing leadership, it might be a bad sign for its future.
  3. Short sellers are becoming more vocal, and there are discussions about plans that could affect companies negatively. Watching how these short sellers act can give clues about company health.

Meta (Facebook) Lesson 1: Corporate Governance

Musings on Markets • 779 implied HN points • 07 Nov 22
💼 Business Corporate Governance
  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 Corporate Governance
  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 Corporate Governance
  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.

The Bear Cave #243

The Bear Cave • 489 implied HN points • 13 Oct 24
💼 Business Corporate Governance
  1. Roblox has been accused of inflating its user numbers by including fake accounts and bots. This has raised safety concerns, especially regarding child safety on the platform.
  2. There have been multiple recent resignations of CFOs from various companies, often after short tenures. This may indicate instability or issues within those organizations.
  3. Some companies are being investigated for their marketing practices, including the use of questionable data sources for email campaigns. This raises questions about ethical business practices.

Control, Complexity and Politics: Deconstructing the Adani Affair!

Musings on Markets • 559 implied HN points • 05 Feb 23
💼 Business 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.

Your ideas for improving capitalism

The Novelleist • 445 implied HN points • 17 Oct 24
💼 Business Corporate Governance
  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.

Top Links 550 Buffett's cash pile. China's copper push. IKEA and GDR prison labor & the UK as "Butler to the World"

Chartbook • 414 implied HN points • 03 Nov 24
💰 Finance Corporate Governance
  1. Warren Buffett has a huge amount of cash saved up. This shows he is waiting for the right investment opportunities to come along.
  2. China is putting a lot of effort into boosting its copper industry. This could have big effects on global markets and trade.
  3. There are serious concerns about IKEA's involvement with past prison labor. This raises questions about ethical practices in big companies.

India Stumbles

Diane Francis • 479 implied HN points • 16 Feb 23
💰 Finance Corporate Governance
  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.

The Bear Cave #247

The Bear Cave • 373 implied HN points • 10 Nov 24
💰 Finance Corporate Governance
  1. A recent report revealed that PACS Group overcharged Medicare, leading to a significant drop in their stock price.
  2. Multiple companies have seen high-profile executive resignations, indicating possible instability in management.
  3. Criticism of Gevo suggests they have misled investors and may struggle under new political conditions.

Your complete guide to board rooms

Kyle Poyar’s Growth Unhinged • 276 implied HN points • 05 Feb 25
💼 Business Corporate Governance
  1. Know who's in the room during board meetings. The CEO, CFO, and tech leaders each have specific roles and responsibilities that are crucial for a productive discussion.
  2. Keep your board meetings under 3.5 hours. Long meetings can tire everyone out, so aim for a focused agenda that encourages valuable input from all members.
  3. Send out materials for the meeting 48 to 72 hours in advance. This allows everyone to prepare without being overwhelmed, and it helps keep the meeting on track.

Facebook (Meta) Lesson 2: Accounting Inconsistencies and Consequences

Musings on Markets • 619 implied HN points • 10 Nov 22
💼 Business Corporate Governance
  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 Corporate Governance
  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 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.

Shareholder fall guy

SuperJoost Playlist • 178 implied HN points • 12 Oct 23
💼 Business Corporate Governance
  1. John Riccitiello's exit from Unity may not be as positive as it seems, and it hints at larger issues.
  2. CD Projekt Red is seeing success with its Cyberpunk franchise, showing growth and positive reception.
  3. Ubisoft is working to address workplace toxicity, despite past issues, showing progress in creating a safer environment.

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

Musings on Markets • 719 implied HN points • 21 Apr 22
🇺🇸 U.S. Politics Corporate Governance
  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.

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

Zero Day • 855 implied HN points • 28 Jun 23
💼 Business 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.

DirectorMoves

DirectorMoves • 137 implied HN points • 05 Jul 23
💼 Business Corporate Governance
  1. Director and CEO moves in various companies are listed, including promotions and resignations.
  2. CFO changes are highlighted, such as resignations and promotions.
  3. General Counsel updates note changes within legal positions.

#38: Insurance isn't bought anymore. It's granted!

OSS.fund Newsletter • 18 implied HN points • 28 Nov 25
💼 Business Corporate Governance
  1. Insurance is becoming harder to get because many companies have outdated systems that are too risky. This makes it tough for businesses to secure adequate coverage.
  2. Insurers are also backing away from covering AI-related risks due to the uncertainty and complexity involved. This leaves companies feeling exposed when using AI.
  3. To navigate these challenges, businesses need to focus on strong governance practices. This includes having clear policies and safeguards in place to protect against potential liabilities.

Kishida May Raise Corporate Taxes, Part I

Japan Economy Watch • 319 implied HN points • 30 Oct 22
💰 Finance Corporate Governance
  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.

Worker Autonomy: A Natural Law of Labor

Rethinking Software • 199 implied HN points • 26 Nov 24
💼 Business 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.

Sam Altman is back at OpenAI.

Jon’s Newsletter • 99 implied HN points • 22 Nov 23
🕹 Technology Corporate Governance
  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.

Does the rise of index funds make managers myopic?

Klement on Investing • 2 implied HN points • 10 Feb 26
💰 Finance Corporate Governance
  1. Managers facing frequent quarterly guidance often favor strategies that smooth short-term earnings, even when those choices reduce long-term value.
  2. High index fund ownership tends to increase short-term decision making, but mainly at firms that already give frequent earnings guidance, because managers then aim for predictable results.
  3. The key issue is fewer long-term shareholders and the incentive to stay in indexes, so it’s the combination of ownership composition and guidance habits — not index funds alone — that drives myopic behavior.