Today Facebook will send its largest email blast to date, informing all 1 billion users that itís proposing to modify the siteís governance structure and remove the ability for users to vote on changes. Currently if proposed changes get over 7,000 comments all users may vote on them, and if over 30 percent vote for or against the changes, their decision is binding.Facebook To Propose Change Of Governance Structure, Removing User Voting On Changes [techcrunch.com]
They're a public company and maximization of shareholder value should reign. Serving all stakeholders (customers, employees, vendors, etc.) well, serves shareholders (Iím one of those shareholders).
Adam Smith won. Social ownership of the means of production and co-operative management of the economy has always failed. That said, Richard Stallmanís movement has produced some winners in the software space Ė but this is still a young concept.
Mr. Z and his team should do what they want. If they blow it, some other social network firm will rise-up and take their space. And Mr. Z will lose billions. Mob rule never produces the very best. It dumbs-down the process and stifles innovation.