She points to Adam Neumann, who drove WeWork into the ground; former Uber CEO Travis Kalanick, who resigned after a sexual harassment scandal; and Juul's Kevin Burns, who stepped down amid questions over the company's role in stoking the youth vaping epidemic.
Being incompetent is not illegal. Pao should know; she's not behind bars, after all. All of these things are either not illegal, not illegal if the CEO didn't know, or difficult to prove.
The allegations against Elizabeth Holmes are clear-cut.
She didn't just tank the stock. She shuttered the search engine (ie the core competency of Yahoo) and then spent the multi-billion dollar cash reserve on long-shot start-ups, hoping to find the next new Facebook.
She would have done better by buying scratch lottery tickets.
To be fair, IIRC the Neumann thing wasn't just about "driving WeWork into the ground", he basically defrauded his own company and its stockholders. I can't remember if what he did was ever actually ruled illegal by a court, but it was definitely shady as hell, he did stuff like take out huge loans from the company at negligible interest and then using the money to buy property and lease it back to the company at a vastly higher rate - so he'd basically funnel money out of the company and into his own pockets.
Being incompetent is not illegal. Pao should know; she's not behind bars, after all. All of these things are either not illegal, not illegal if the CEO didn't know, or difficult to prove.
The allegations against Elizabeth Holmes are clear-cut.
Wait, so we should prosecute the former Yahoo CEO who tanked the stock and flew off in her golden parachute?
She didn't just tank the stock. She shuttered the search engine (ie the core competency of Yahoo) and then spent the multi-billion dollar cash reserve on long-shot start-ups, hoping to find the next new Facebook.
She would have done better by buying scratch lottery tickets.
The Juul thing doesn't even fit with the others.
He stepped down because some kids like his product before they're legally allowed to.
Wut.
he had to step down because theyre not allowed to market those products to kids.
They did that.
I guess we're just making shit up now.
To be fair, IIRC the Neumann thing wasn't just about "driving WeWork into the ground", he basically defrauded his own company and its stockholders. I can't remember if what he did was ever actually ruled illegal by a court, but it was definitely shady as hell, he did stuff like take out huge loans from the company at negligible interest and then using the money to buy property and lease it back to the company at a vastly higher rate - so he'd basically funnel money out of the company and into his own pockets.