zlacker

>>medler+(OP)
This makes sense. The board thinks they're calling the shots, but the reality is the people with the money are the ones calling the shots, always. Boards are just appointed by shareholders aka investors aka capital holders to do their bidding.

The capped-profit / non-profit structure muddles that a little bit, but the reality is that entity can't survive without the funding that goes into the for-profit piece

And if current investors + would-be investors threaten to walk away, what can the board really do? They have no leverage.

Sounds like they really didn't "play the tape forward" and think this through...

>>airstr+r3
Yep. There's the apparent legal leverage,

and then there's the real leverage of money and the court of public opinion.