Christian Soschner — 'Indifference is not neutrality. It is a preference for whoever does the incentivizing.'

Christian Soschner — biotech investor and podcaster — publishes a substantive LinkedIn reflection on the Incorruptible argument that most upended his prior model: independent directors as the gold standard is a myth, because removing a director's financial stake doesn't remove their incentive — it hands it to whoever decides who gets the next board seat. Also notes Eric's turtles-all-the-way-down concession on who guards the guardian.

“Remove someone's financial stake and you have not removed their incentives. You have handed them to somebody else. For most independent directors that somebody is the financial system that decides who gets the next board seat.” — Christian Soschner on LinkedIn