Snap’s plan is most unfriendly to outsiders

Steven Davidoff Solomon writes for The New York Times, Feb. 3, 2017

Snap has followed the natural evolution of this disenfranchisement, simply eliminating shareholder rights from the get-go. And this is not just about replicating the venture capital model, where founders get control but investors get board seats and veto rights over significant transactions. Here, Snap is not even giving crumbs.