The Guardian view of Snap IPO: a shareholding monarchy | Editorial

The flotation of this tech company is an absurdity, where desperate investors pay to own a piece of a company that they will have no say in running
It is a paradox that a country that sought freedom from a king, the United States, is today happy to crown monarchs in commerce. Snap, which calls itself a camera company but is in fact a Silicon Valley firm behind a mobile messaging app, floated on the US stock exchange making billionaires of its two under-30 founders. True, 158 million people open