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manquer 5 hours ago

As long you are burning more cash than you bring in, you are beholden to investors - whether it is retail, VCs, banks or a government giving you a bailout it is still someone signing you a check.

Golden shares, vetos, PBC, charter are all paper tigers , they only matter if/when the firm is self-sustaining business with no outside capital needed, the alternative to not listening to investors till then is crash and burn.

After that point, you will have to listen to the paying customers (sometimes but not always they are also users ) as they are ones now funding your organization.

Bottom line you are always listening to someone.