Chapter
Board of Directors' Duty of Care Responsibility
14:59 - 22:05 (07:05)
The board of directors has a duty of care responsibility to ensure that they are informed of all important information regarding the company. If they fail to act upon such information or are not provided with it, it can be a breach of their fiduciary responsibilities.
Clips
The board has a duty of care responsibility as fiduciaries of the company, and if they fail to act on information brought to them, they're violating their responsibility.
14:59 - 18:45 (03:45)
Summary
The board has a duty of care responsibility as fiduciaries of the company, and if they fail to act on information brought to them, they're violating their responsibility. On the other hand, the duty of care responsibility of the board is also evaluated, meaning, did the information actually reach the board in the first place?
ChapterBoard of Directors' Duty of Care Responsibility
EpisodeE93: Twitter whistleblower, cloud security vulnerabilities, student debt forgiveness & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Whistleblowers are financially incented to unveil breaches that can result in potential SEC and FTC fines, leading to career-ending outcomes for the involved companies.
18:45 - 22:05 (03:20)
Summary
Whistleblowers are financially incented to unveil breaches that can result in potential SEC and FTC fines, leading to career-ending outcomes for the involved companies. The whistleblower program was created in 2012 by the SEC as part of the Dodd-Frank Act.