Earlier quoted context omitted.
There's no way to write a law like this that isn't open to horrific abuse. If investors are going to be held responsible for their management's criminal activities, the law isn't just going to be used in Silicon Valley. I don't want to be held liable the next time I buy a few hundred shares of a company whose managers fuck up and (defraud mortgage borrowers|turn NJ into a superfund site|whatever). I'm generally very…
I'm not talking about applying the law to everyone who owns shares. That would be ridiculous, and would take down a large number of employees. I should have clarified. I want career-making, lead investors to be liable. The people who created Evan Spiegel should be held responsible if he creates a company with a discriminatory culture. Not everyone who holds a few hundred shares; just people who either played a role,…
You know that that's not happening though, right? I mean, the idea is so far-fetched and unrealistic that it's comical. The first step would be to merely hold Spiegel responsible for what he did: aaaand nothing is happening. Nothing will ever happen. But you want to go two steps ahead and hold investors responsible for Spiegel's behavior? That's laughably naive.
Consider, for example, that one of Reddit's big investors is a pimp. No, that's not a fucking joke. He was straight up selling women's bodies to be used sexually. We're not holding people who sell women's bodies for sex accountable... and yet you want to go a few steps further and hold people responsible for other people's conduct?