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Spotify Joins the Competition in the EdTech Industry

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Hello, and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. This is our Monday show, in which we look back at the weekend what’s ahead in the week before us. Over in the EU, a number of U.S.-based tech companies are under inquiry thanks to the new Digital Markets Act. At some point, you have to wonder if tech giants are going to find a better working relationship with the bloc. Equity drops at 7 a.m. PT every Monday, Wednesday and Friday, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts.

Exxon’s Temper Flares as Shareholders Exercise Their Rights

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Top executives report to the CEO, the CEO answers to the board, and the board serves at the whim of the shareholders. On Sunday evening, the oil supermajor filed a lawsuit in federal court asking for permission to ignore a shareholder resolution at its next annual meeting. The new shareholder resolution calls on the oil company to reduce its Scope 3 emissions or those that result from the use of its products. Other shareholders tended to be deferential to management, letting them run their business as they saw fit. But as shareholder primacy took root in the public consciousness, more shareholders began to exercise their rights.