Many Silicon Valley founders followed Google’s lead. By 2015, 15 percent of IPOs were introduced with a dual-class structure, compared to 1 percent in 2005, and more than half of those were for technology companies. Most significantly, Facebook’s 2012 IPO featured a two-tiered stock structure that left founder Mark Zuckerberg in control of voting rights. The company then issued nonvoting class “C” shares in 2016, solidifying Zuckerberg’s personal control over every decision.

Shoshana Zuboff, The Age of Surveillance Cap…, loc. 325