Yes dual class shares means most modern tech companies are de facto dictatorships but that doesnt change the point. Sergey's boss is the shareholders.
This is not theoretical. The most infamous example of one sided dual class shares is Meta. Zuckerberg decided to throw the middle finger to the board and share holders, highest employee growth in FAANG..
He ignored activist shareholder letters like the one from Brad Gerstner and now the stock is collapsing, way beyond the corrections the rest of big tech faced.
He has already began course correction but lets say he instead Zuck decided to double down. You can easily see more rounds of shareholder rout.
This is not theoretical. The most infamous example of one sided dual class shares is Meta. Zuckerberg decided to throw the middle finger to the board and share holders, highest employee growth in FAANG..
He ignored activist shareholder letters like the one from Brad Gerstner and now the stock is collapsing, way beyond the corrections the rest of big tech faced.
He has already began course correction but lets say he instead Zuck decided to double down. You can easily see more rounds of shareholder rout.