Spotify is building a firewall to keep its founders in control

Spotify just filed the paperwork for its direct public listing.
Like Snap, Facebook, and other tech companies that have gone the traditional initial public offering route, Spotify engineered a firewall to ensure the founders stay in control.
Spotify has created a class of "beneficiary certificates" that carry voting power but no economic power.
Spotify has issued 379.2 million shares to founders Daniel Ek and Martin Lorentzen, giving them over 80% of the voting power.
After a lengthy buildup, Sp