The hottest Corporate Governance Substack posts right now

And their main takeaways
Category
Top Business Topics

✅ The attention economy

Wadds Inc. newsletter • 59 implied HN points • 29 Jan 24
💼 Business 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.

The Bear Cave #161

The Bear Cave • 746 implied HN points • 19 Mar 23
💰 Finance Corporate Governance
  1. NINGI Research published an activist report on Arbor Realty Trust, alleging accounting anomalies and overvaluation.
  2. There have been multiple recent resignations of CEOs and CFOs in various companies.
  3. The post includes tweets of the week highlighting short pitches, company updates, and executive statements.

DirectorMoves

DirectorMoves • 98 implied HN points • 27 May 23
💰 Finance Corporate Governance
  1. The newsletter features updates on director and CEO moves in various companies
  2. Comparison of gender diversity on boards and their market capitalization is highlighted
  3. There are also updates on CFO and General Counsel moves in different organizations

Learning from the mafia

Klement on Investing • 3 implied HN points • 23 Jan 26
💼 Business Corporate Governance
  1. Mafia-connected firms and their accountants push effective tax rates down — clean firms in heavily infiltrated regions pay about 1% less tax on average and are 3.6% more likely to restate their tax filings.
  2. This spreads because firms share the same accountants, accounting firms reuse tricks learned from mafia clients, and honest firms feel pressured to copy aggressive tax strategies to stay competitive.
  3. The net effect is a strong incentive for many companies to cut their tax bills aggressively, which ends up costing the state a lot of money.
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ESG's Russia Test: Trial by Fire or Crash and Burn?

Musings on Markets • 379 implied HN points • 28 Mar 22
💰 Finance Corporate Governance
  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.

So Much "Succession" 

SatPost by Trung Phan • 79 implied HN points • 22 Feb 25
🇺🇸 U.S. Politics Corporate Governance
  1. The Murdoch family's media empire is facing succession drama similar to the TV show 'Succession.' Rupert Murdoch's plans for his children to inherit control have sparked legal battles.
  2. The trust set up by Rupert Murdoch grants all four of his eldest children equal voting rights after his death, but he has tried to change that to favor one child, creating tension among the siblings.
  3. The real-life Murdoch family's rivalry and issues echo many plot points from 'Succession,' leading to speculation about which family member is leaking stories to the show's writers.

Don't give your investors common stock.

The Founder Memo • 19 implied HN points • 28 Apr 24
💼 Business Corporate Governance
  1. Investors should receive preferred stock, while those who contribute time and effort get common stock. This keeps things clear and avoids complications.
  2. Issuing common stock to investors can inflate the stock price and make it harder for employees to buy in. Using preferred stock keeps the value lower for common shares.
  3. Mixing stock types complicates corporate governance, making it tougher to manage rights and responsibilities. It's best to keep it simple with preferred for money and common for effort.

Participatory Capitalism

Rethinking Software • 99 implied HN points • 24 Nov 24
💼 Business Corporate Governance
  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.

The costs and benefits of TCFD disclosure

Klement on Investing • 1 implied HN point • 09 Feb 26
💰 Finance Corporate Governance
  1. Companies that voluntarily follow TCFD are usually those more exposed to climate risk and with more resources like bigger workforces, larger boards, or dedicated sustainability committees.
  2. For large firms, voluntary TCFD disclosure is associated with higher profitability and valuations, but for smaller firms the compliance costs are relatively high and tend to reduce profitability.
  3. Because these disclosure costs disproportionately burden smaller companies, regulators are moving to soften or ease reporting requirements to reduce that strain.

DirectorMoves

DirectorMoves • 58 implied HN points • 17 Jun 23
💼 Business Corporate Governance
  1. Various director and CEO moves in companies like Honeywell, Gartner, HP Enterprise, and more.
  2. Gender diversity on boards has seen an increase in women representation in 2023.
  3. Notable CFO moves in companies like Walt Disney, Exelon, Imperial Oil Ltd, and more.

#8: The World is Getting Worried + Corporate Structures + Regulatory Challenges in the US and China

Navigating AI Risks • 58 implied HN points • 19 Jul 23
🕹 Technology Corporate Governance
  1. The UN Security Council held a session to discuss the risks and benefits of AI, highlighting concerns over international stability and nuclear control.
  2. Corporate governance is important for AI labs to prioritize safety over profit, with innovations in structures like Anthropic's Long-Term Benefit Trust.
  3. China's new AI rules balance social stability and economic development, with stringent regulations on generative AI systems.

Digital tug-of-war

Working Theorys • 72 implied HN points • 19 Jan 25
💼 Business Corporate Governance
  1. The debate over banning TikTok is making people more aware of digital trade. It shows how important it is in the economy, making up a big part of global trade now.
  2. Business schools, especially MBA programs, are facing criticism for not preparing students for job markets well. They're seen more as a time to learn and network rather than just a pathway to a job.
  3. Many CEOs who step down often come back, bringing fresh ideas and perspectives. This trend shows how important past experiences can be in reshaping a company's vision.

Rabbit Holes 🕳️ #122

Creative Destruction • 30 implied HN points • 02 Jul 25
💼 Business Corporate Governance
  1. Using AI tools like ChatGPT is changing how we communicate. We're starting to sound more robotic and losing some of our human touch in conversations.
  2. There's a big gap between how much CEOs make compared to average workers. This inequality is growing and is often ignored, but it's important to recognize and address it.
  3. Startups are shifting from focusing on rapid growth and hiring to being lean and efficient, using AI to achieve more with fewer employees. This new approach is called 'botscaling.'

Why CEOs are the very last job that AI will replace

The Future of Life • 19 implied HN points • 29 Feb 24
💼 Business Corporate Governance
  1. CEOs are more than just financial managers; they serve as agents of the owners and have a broad range of responsibilities. Their main job is to implement the company's mission and make key value judgments that drive the business's success.
  2. AI may become very smart, but it can't replace the human ability to make complex value judgments. For example, deciding which products align with a company's values requires deep understanding and insight that AI doesn't have.
  3. Maximizing profits is not just about cutting costs; it's about pursuing a clear mission. Just like individuals find success by following their goals, businesses need a strong mission to guide their decisions.

ESG and the pricing of a Near Miss

ESG Hound • 288 implied HN points • 26 May 23
💼 Business Corporate Governance
  1. Luck can sometimes prevent a disaster, like in a near miss incident.
  2. Second-order risks, not immediately priced, can lead to catastrophic consequences.
  3. ESG helps in evaluating and pricing risks like environmental compliance and social issues, offering investing insights.

DirectorMoves

DirectorMoves • 19 implied HN points • 10 Feb 24
💼 Business Corporate Governance
  1. Various high-profile director and CEO moves in different companies.
  2. Increase in female board members since January 1, 2024, compared to a decrease in male board members.
  3. Promotions, retirements, and new appointments in executive positions across different companies.

To Be or Not To Be

Sector 6 | The Newsletter of AIM • 39 implied HN points • 04 Aug 23
🕹 Technology Corporate Governance
  1. AMD is facing a tough decision between following US export rules and keeping its market in China. It's a tricky balance to maintain.
  2. The US has set strict rules that prevent companies like AMD from selling advanced chips to China. These rules are aimed at restricting high-performance technology exports.
  3. Nvidia has a chip that exceeds these performance limits, illustrating the competitive tech landscape and the challenges AMD is dealing with.

Get Woke, Go Broke: Vanguard Ditches ESG Investing

Anxiety Addiction & Ascension • 39 implied HN points • 06 Mar 23
💰 Finance Corporate Governance
  1. Vanguard, the world's second-largest asset management firm, with $8 trillion AUM, has withdrawn from ESG, which is a significant move.
  2. There are signs of people waking up and pushing back against social engineering, like the ESG framework, showing a recalibration in public perception.
  3. Major financial institutions, like Vanguard and JPMorgan Chase, distancing themselves from ESG indicates cracks in the system and growing public awareness, potentially due to popular sentiment.

A Dream Indeed

The Radar • 39 implied HN points • 25 Apr 23
💼 Business Corporate Governance
  1. Authenticity in workplace culture leads to better results and engagement. Employees feel a sense of safety, invest more time and energy, and focus on long-term goals.
  2. Honesty is essential for building trust and equality within teams. Open communication loops prevent insularity and negative outcomes, like the Enron scandal.
  3. Companies often sacrifice their values for shareholder interests. Boards prioritize shareholder value over principles, leading to short-term cost controls and reduced transparency.

The Big OpenAI Sellout

KERFUFFLE • 15 implied HN points • 06 Aug 25
🕹 Technology Corporate Governance
  1. OpenAI started as a non-profit to create AI for the good of everyone, not just for profit. They wanted to make sure AI benefits all of humanity.
  2. Over time, OpenAI changed its structure and now seems more focused on making money. Many people are worried this goes against their original mission.
  3. A recent open letter, signed by over a thousand experts, questions if OpenAI is still following its founding goals and whether the public has a say in important AI decisions.

Scrum is the Symptom, not the Problem

Rethinking Software • 77 HN points • 07 Aug 24
🕹 Technology Corporate Governance
  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.

MAPS: Half-Baked Governance

Nongaap Investing • 47 implied HN points • 19 Dec 24
💰 Finance Corporate Governance
  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.

The controversial ethics of Stock Buybacks [Finance Fridays]

Technology Made Simple • 39 implied HN points • 11 Feb 23
💰 Finance Corporate Governance
  1. Stock buybacks involve a company purchasing its own shares from the market, which can boost stock prices and reduce the number of shares in circulation.
  2. Stock buybacks are typically done by older, established companies with market dominance, in order to reward investors when they don't have resources for other investments.
  3. Controversies around stock buybacks arise from executives benefiting significantly from buybacks through stock options, while companies may conduct layoffs and seek government bailouts.

Founders, what can you learn from the OpenAI debacle?

Tech Ramblings • 19 implied HN points • 19 Nov 23
💼 Business Corporate Governance
  1. Make sure your board members really care about the company's success. They should have a stake in it, either by working there or owning shares.
  2. When board members leave, replace them quickly. A shrinking board can lead to risky decisions and power plays.
  3. Don’t fill your board with just 'yes men' or only investors. You need a mix of people who will challenge you and support innovation.

What Does Bill Ackman Want With Universal Music Group?

The Seat of Loss • 5 implied HN points • 20 Oct 25
💼 Business Corporate Governance
  1. Bill Ackman is an activist investor who believes in taking an active role to improve the companies he invests in. He aims to unlock value in investments, especially with his significant stake in Universal Music Group.
  2. Ackman's past experience with Herbalife shows how he can mix personal beliefs with investment strategies, often making headlines with his controversial methods. His desire for a strong narrative can overshadow the practical side of investing.
  3. Despite his optimism about UMG's potential, the stock performance has been disappointing since its IPO. Ackman is now trying new strategies and even adjusting his political ties to improve his investment results.

It’s good business, but knee-bending is gross

Alex's Personal Blog • 32 implied HN points • 06 Jan 25
💼 Business Corporate Governance
  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.

Thoughts on "Careless People" by Sarah Wynn-Williams

The Seat of Loss • 17 implied HN points • 09 May 25
🇺🇸 U.S. Politics Corporate Governance
  1. People in media often want to create things that they wished existed when they were younger. This can mean making content that connects with others and fills a gap in resources or information.
  2. Wynn-Williams shares a personal story about surviving a shark attack and how that experience shaped her views on what information and support should be available to people in crisis.
  3. Her book highlights the power dynamics of social media and politics, showing how platforms like Facebook can influence society, but also how their leaders may not always act in the best interests of users.

We don’t want auditors to be good at their job

Klement on Investing • 2 implied HN points • 11 Dec 25
💰 Finance Corporate Governance
  1. Corporate accounting scandals recur and auditors are routinely made the public scapegoat, prompting regulatory fixes that don’t stop the next failure.
  2. If auditors actually caught all fraud, investors who lose money would still look for someone else to blame, because many people outsource their own due diligence.
  3. The blame cycle usually expands to regulators and then quiets after reforms, allowing auditors and the system to be gradually exonerated and the pattern to repeat.

Failing upwards

davidj.substack • 35 implied HN points • 18 Nov 24
💼 Business Corporate Governance
  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.

Illumina: Malignant Governance

Nongaap Investing • 72 implied HN points • 24 Apr 23
💼 Business Corporate Governance
  1. Illumina insiders may have made over $500 million from splitting-off and re-acquiring Grail.
  2. Undisclosed Grail shares acquired by Illumina insiders may have exceeded 100+ million, leading to misaligned incentives.
  3. The Grail acquisition may have triggered an exodus of Illumina talent and impacted the company's value.

The Anti-Acc Revolution

Malt Liquidity • 13 implied HN points • 05 Jan 25
💰 Finance 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.

Illumina: Prelude to Endgame

Nongaap Investing • 60 implied HN points • 15 May 23
💼 Business Corporate Governance
  1. The Illumina-Grail brouhaha could involve fraud by omitting material facts about related party transactions.
  2. Corporate governance issues, like undisclosed financial relationships between decision-makers, are a significant concern in public markets.
  3. If proven, Illumina insiders may face consequences like disgorgement of profits, potential prison risks, and challenges from regulators.