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What Does a Board of Directors Do?? - Ask Jay
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- čas přidán 18. 08. 2024
- Successful entrepreneur and CEO, Jay Adelson, demystifies the start-up process by providing advice, tips, and answering questions. Today, he discusses what the role of a company's board of directors plays.
Have a question about launching a business that you want answered? Comment or add a video response!
Jay's Twitter:
/ jayadelson
EMail Your Questions:
askjay@revision3.com
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ABOUT ASK JAY:
Entrepreneur, CEO, and business owner Jay Adelson (Equinix, Digg, Revision3, SimpleGeo) demystifies the start-up process by providing advice, tips, and answering questions. Submit questions to learn how to turn any business idea into reality and maybe even change the world
is nobody going to comment that this guy with 24k subs got sponsored by Netflix in 2011
Instablaster
2021 is here!
What would you like me to say? :)
@@askjayadelson tell us jay what u doing now a days
I’m watching this today 01/27/2022 and it’s the Netflix sponsorship for me! 10 years later look at them. The biggest tv streaming service on the market.
Is amazing that this video have a sponsorship from the old Netflix! Omg that is so cool
if you sell the shares of your company, it is no longer your company so it is no surprise you can get fired...
Woah, netflix looked real different back then.
It had great board of directors
You're really easy to understand, thanks!
Steve Jobs got fired by the board of directors influenced by someone that he hired.
than the company went to shit and pixar was made.
I bet he was like. You treacherous little bitch.. 🤣
Imagine investing in Netflix back in the day , I would've been a millionaire by now 😭😭
Facts 😂😂
thanks for the information, my question is if your working with a company on licensing manufacturing so forth so on one project but you have another idea that you want to get up and going as well and you make the attempt to present it to the same company and that company tell you let work on one thing at a time, would it be a wise move to start working with another company for the new idea?
So basically BoD are your employees that you hire to command or fire you.
Jay, I always ran smaller private companys. We never formally elected our board. The board consisted of upper management and two inside people important to the company. Because the three exeutives controlled the majority of the voting stock, the CEO could never be fired. Did we do something wrong?
Hello from 8 years into the future. - Hope you figured it out :-)
Exactly happened to me! Jay!..I founded an IT company 2 years back with a big vision. I sold my shares for investment to some people who, at that time were ready to wait for 2 years till the product was built. Just in 1 year we were awarded National award (2016) as the best startup company in Nepal for vision and work. We created a board of 7 people and had more than 300 employees but in just 14 months we started having disagreements on revenue while i was focused on building the product i had promised n would take one more year to build. I, being the CEO and Chairman of the Board tried to use my powers to dismantle the board but all went crazy and things went from bad to worse. and Damn! one day i was called in the board meeting and asked to step down from my own company's board and resign from CEO. It became the shittiest day of my life! I m on legal procedure now and things r in my favor. Can i take some suggestions from u Jay??
Is there a way to start a company without having a board? Could you have total control of your company?
@@mohamethseck I think there's only one way by being a private company where your never go public
@@mohamethseckof course, that’s called a private company.
@BeatTheBrave Every independent corporation, technically, has a board. I believe there are other options for different corporate structures, but definitely in the case of my companies (C-corporations). You don't need to be public to have a board. -Jay
Hi Jay,
I have a query regarding the role of board of directors. Do they report to anyone in the company? Also if the decision of board of directors is not compliant with the betterment of the company or say it is not agreeable to employees or any other person in the company, what happens then ? Are board of directors monitored by any other entity in a company. Futhermore, How does one become a member of board of directors ? like way to become one of them.
Thanks & Regards
But who selects the board of directors? We are in the process of purchasing a cruise ship and starting a boutique cruise line
Hello there,
First of all, great movie.
Had a little question though because i heard on boards you have executive directors and non-executive directors. Is it so that non-executive directors are those people assigned by the shareholders (those which you also talk about in your movie) and that the executive directors are actually persons/managers/(perhaps the CEO?) who work inside the company and that get elected also by the shareholders to sit on the board?
Thanks for replying.
The sit around all BORED!LOL!
Since I am a car fanatic my question is does a automakers board approve or deny new car models? So take GM or example, there was a story where Cadillac was thinking about creating a mega luxo car to take on Bentley, Rolls etc. But they decided against it. So was this just management or dose the board get involved at this point as well? I assume the management has to answer to the board.
If the owner or founder holds the majority stake or shares of a company then also he/she can get fired ?
Yes, if the company's bylaws state that the hiring/firing of the CEO is based on a board majority versus shareholder majority. You can write bylaws so many different ways, and VCs can get law firms to write them any way they see fit. However, generally speaking, if the founder is a majority shareholder, USUALLY that means they can override a board vote with a shareholder majority, which is why people like Zuck are immune from getting fired.
I love your insights! Just one Request, the Background Voice is Little loud than your speaking pitch, it gets little difficult to Hear you precisely..
Please Make it more Vocal Clear..Cheers and keep em coming..
Questions By: Freddie R.o.s.e.
Hey Jay I got 2 questions for you. Could a CEO/ The creator of the company Be a Board of Directors member and still be able to get fired? And can the CEO make a decision without telling the Board of Directors?
CEO is responsible for the day today running of the company and implementation of strategy crafted by the board ...
Hey Jay, as always great video and advice. Question, does every business need to have a board of directors or are they just for publicly traded companies since they are loyal to shareholders? Again, great video and advice and keep'em coming...
Only public companies need a board of directors, since private companies may have 1 person who owns 100% of the stock.
Nice video, well illustrated. Enjoyed watching it. Thanks.
@JKGeary Yes, you could be the sole board member... You don't need to find board members to start the business.
Jay Can you be sole board member and CEO if you are not the owner? Wondering about running a very small LLC for some friends. Thank you!
How do you become a part of the board of directors? Like, i really need all that knowledge.
Thank you!
Alan Park What type of corporation? The type of Corp is important
Not all corps work like he described
I mean, a company that is open to the stock market
A board of directors constitutes of members selected by the shareholders to create value for them ,after the nomination committee and independent head hunters reccomend to the shareholders on the best qualified the shareholders vote ,that is ordinary shareholders as they are the ones with voting powers ,and one becomes a board member.
so... im guessing majority ruling is the only way they can fire the CEO? is the percentage based upon the share percentage they hold? or is it based upon how many seats are in your BOD?
A board of directors needs 1 regular everyday person to ground all those eccentric millionaire's pov
so cool...specially the netflix think
Do the board of directors fired the CEO based upon voting?
If I received the investment from VC in Series A by company A, how many players will represent this Company A during the meeting?
video suggestion, preparing for board of director interviews to become CEO/ President or Executive Director.
What is different between board of directors and chairman?
Would you elaborate that difference brother jay?
Great video. okay I'll keep that in mind, that makes sense.
Can you create a company and from the get go have board of directors that are considered employees and give them stock options?
With Elon Musk now joining the board of directors of twitter I had to understand what he can do? Like how much power does he have?
A public company board director, and in particular a chairman, has plenty of power over many things, include audit committees, HR processes, etc. The board provides checks and balances depending on the specific rules in the shareholder agreement. This is very different IMHO than a private company director. Therefore... it depends.
how to become a board member? do you need to buy a huge amount of company's share?
Awesome no-bs style... love it
Thanks for a simple, great video!
please lower the volume of songs in the background
I feel like you wanted to call them a** hole at one point of filming this video LOL
Great video! One question, if you retain the majority shareholder position can you still be fired by the board?
No u cannot as u are the major shareholder , although provided the company terms and conditions and the legal Paperwork that has been set so . Different countries have company acts set accordingly. However a non executive board member does not have the power to fire .
@@anshulb6128 Thank you so much for the clarification.
@@anshulb6128 One question, if you are the CEO and Chairman of the board do you have two votes? Obviously if the board want to issue a no confidence vote it's different I imagine, maybe only one.
if for example i have my own company and it is registered as a corporation sole should i be worried to the board of directors?
Hi Jay, my name is David I’m from Sydney Australia, I was wondering can managing director founding director of a company fired the board director instead of fire him? Because I work for a company the 2 managing director had fired all board of director and he want to hire new director while the fired director want to overtake the company by investing money lawyer say it’s illegal to fire the ceo and the board director share now become receivable.
David
very good presentation! Now I understand a lot
Mr.Jay can you Explain What is Articles of Association and what are its contents?????
Ask one of ur Korean Friends... :p ;)
thanks for the advice
I cant wait to have a board of directors just so I can have some people who are as excited about my project as I am. Getting doors slammed in my face and going on wild goose chases for funding is getting old. lol
How many BOD doES theCompany has and other than ceo who else is there for them.List few please.Are they completely professional, altogether the same and is from the same field or altogether they are different from one another and do they talk on relavant issues? other thing; how much the company has to be big in order to form there BOD and its CEO
company and its size is all set by the number of testcases it has these test cases are the assets of the company and also the family members and their participation is involved with the profit of the company and its size...now a girl
Hello Jay , I can't thank you enough for the valuable information you are providing.
My Question , what is the best resource/ way beside LinkedIn to look for my dream team of board of directors for Pharma / Biotech?
Hi Jay, Thanks for creating this video..
Sick skateboard trick in the outro :D
That was Kevin Rose.
What do I need to be a member of the board?
it happened to steve job with apple board of director back in the 80s, and everyone really miss him today cards app and siri = islave ouch we miss you steve
What can you 🤔 do?
what is a CBO and what does the person does
Can they still fire you even if you own 51%+ of your company?
If you own most of your company's stock than no they can't !!!!!!!!!! Instead you can vote for yourself to become the board of director !!!!!!!!!! That's what warren buffet and bill gates do !!!!!!!!
i was just thingking is it possible that a company can go on without the board of directors, or companies without board of directors do exist?
Yes, if their or no shareholders.
Very helpful
but you didn t tell us who appoint this board and how
There is a committee known as the nomination committee which is responsible for that.
Do you only have a board of directors when you are a public company.
In 2011 , you were sponsored by netflix 😆
what is overboarding the board
lol my name is kyle and 10 years later i have the same question lol
Well I really do as well. Not always the same answer.
What can Jay do?
I am board of directors
The day someone fires me from my own company is the day I commit my first murder... u have any idea how hard it is to build a company from scratch, blood, sweat, tears, sleepless nights and then someone pushes me out?!
are we going to ignore what's written on his shirt ? 1:17
What was written? Wait...
ohhh Joe's shirt. Well. That's Joe for you.
how to make a BOARD OF DIRECTORS ?
Wow that's terrible. Now we need to find out how this can be stopped!
How come it doesn’t work when I sign up for Netflix using the askjay promo?
Well now that's just terrible of those guys. They should honor 10 year old coupons!
Lol love that @askjayadelson was sponsored by Netflix - Try to get your CZcams channel sponsored by Netflix today haha! :-) How the world changes.
digg? Isn’t that the one Reddit competed with
I think? I can't remember. My brain is too old and foggy.
great video
It looks like the board of directors are the ones actually in charge with those rules...
*I’d like to see disabled people represented on these boards*
that has literally nothing to do with business if only employee representatives to the board
I would as well.
No, not just employees, when. you pick external directors you need to bring people in who can influence both culture and policy.
Great advice J
@askjayadelson Thanks Jay for the reply!
keep udate boss
the url www.revision3.com/askjay
dont work Sir I get "the server is misbehaving" message
Can you build a company with 100% power without listening to board of directors
It's been done. It depends on how much of a company you can control in terms of shares.
Fired from my own company, unbelievable
Well, hey there Frank. Sorry about that. However, yeah, happened to me, if it's any consolation.
can the CEO fire the board members
other way around buddy
Abel Ghide Only shareholders can hire and fire board members because they are people they hired to oversee that their investment in that company is not going to waste but there are some occasions where shareholders sit on the board.
A guy with 24.5k subscribers do some adds for Netflix 😂😂, my god how things can change ironically , and keep in mind that number of subscribers was much less ten years ago
Great video Jay! As a young entrepreneur I was able to learn a lot!
Financial Freedom For Millennials Channel
172/250 Subscriber Goal
Give this guy an English accent, cut his hair,and dye it blonde is it just me or wouldn’t he look like Chris Martin from Coldplay
Isn't that extortion?
No no no no no no
No no no no no no
No no no no no no
i like it
sheep time dog
No no no
DETROIT REAL TV LLC ON FACEBOOK
Its technically not right to kick off the the owner of a company
Well I would say, it's unethical, unless the founder is a major jerk to his/her people.
I'd rather not have a board lul
They sucks profit without doing nothing.
What if you all were robbed like crazy punks that rather toss away efforts a company deserves just for existing
If you have controlling numbers of stock, it doesn’t mater that you go public...that mantra “it’s about the share holder is pure unadulterated bullshi_! Whomever has control over the numbers has control over the company, even after he was removed Jobs got his company back by selling more of his stock! In the two companies my wife has worked work that went public; less than 2% of the share sold are for “public” investors. The remaining 98% are owned by the owner and Board of Directors as well as the employees that got to purchased their shares at 1/6 the cost of the initial opening; which no one can begrudge! The stock market does not reflect the health of the economy, the only thing it represents is the one demographic that made money during the crash of 08 and the ones making trillions today during a pandemic, MILLIONAIRES-THE ONLY GROUP THAT MADE MONEY WHILE THE “NORMAL PUBLIC SHAREHOLDERS” LOST DECADES OF THEIR WEALTH NEVER TO BE RECOVERED BUT WE BAILED OUT OUR RICH!!!!
Do you have a cat?
I have two. One named Ripley and one named Riddick. I had one named Watson, but he mysteriously disappeared. RIP Watson.
Stop smoking weed ffs!
Don't spend half a minute prattling on about yourself at the beginning.Just get to it man.
I swear they made me do it.