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What's a scam that's so normalized that we don't even realize it's a scam anymore? (lemm.ee)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] [email protected] 5 points 1 year ago (2 children)

Wait what?

[–] [email protected] 5 points 1 year ago* (last edited 1 year ago) (2 children)

Google's shares are divided into two types, Class A and Class C. Class A shares, traded as GOOGL, confer one vote per share as a typical stock would. Class C shares, traded as GOOG, confers no voting privileges. This dual shares system was done to raise more money selling less useful Class C shares (intended for mutual funds and the like) while keeping control of the company in the hands of those held on to Class A shares (i.e. longtime executives).

[–] [email protected] 1 points 1 year ago (1 children)

Ah, thanks for the info. That's actually what I suspect is happening with the new fractional shares thing, but the brokerage is the one retaining control.

[–] [email protected] 3 points 1 year ago* (last edited 1 year ago)

They have 2 (3?) types of shares, and the one most people buy ($GOOG) is a class C share which comes with no voting rights and doesn’t give you a share of the company profits.

While class A shares ($GOOGL) come with voting rights, class B shares which are held by Google’s founders and insiders get 10x voting power and so they still hold the majority vote. Class A also does not pay dividends.