Snouts in trough. Athan made sure made good coin with out results and was trying to reap shareholders big time with last reward structure shareholders voted against. At least shareholders should be pleased they voted that down as otherwise athan would have had even more shareholder money on top of his exorbitant salary with bugger all to show for it share price, revenue and cash flow wise.
Not just fault of athan as he has clearly been able to take advantage of very wide eyed and naive founders who are major shareholders and on the board. They are technologists and not business man and because of that they have swooned to Athan, as have very little experience to know what is bad executive management and what is good. And more importantly they are missing a key skill to filter out the dross! And imo they have been fed and willingly consumed plenty at broader shareholders expense.
Letter to Chris Woods, page-88
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