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Issue of FaceBook OK let me let me explain to our road is what we're doing via FaceBook is going public.
It's now getting pressure from one of his big investors as a pension funding California pressure for FaceBook to put a woman -- women on its -- Question would face will be a better company if it had eight long at least one of female board member it's all -- now -- -- dealt what are you -- I think absolutely first of -- -- -- 60% of the users of FaceBook are women.
Who better to understand what women want and appreciate than other women but more importantly let's talk about it from -- bottom line business perspective.
Catalysts did a survey a fortune 500 companies.
That survey found that on average any company with three or more women -- its board.
Outperformed all the companies with less by 43%.
Return on equity to their investors look at that's a huge number at that point that that's -- cars don't lack.
Now let me put it the other way around.
There's a right way and there's a wrong way of getting representation for women and other minorities and -- whatever -- mobile -- and getting diversity has.
That's -- way of doing it the other way is Sheryl -- Now she is CEO all FaceBook.
C is the chief operating -- on socio got it okay.
She is in day to day control of that company -- has real power off.
She wasn't appointed because she's a woman she got the job because she's talented and she's qualified -- back.
That is the right way to go about making creating diversity.
In -- company.
But what I can tell you is that there millions of other Sheryl Sandburg that's a problem there's all these other people just like her that aren't getting opportunities.
Because the reality is that how typically -- -- I'm -- directors are chosen is from the investor community.
The investor community is overwhelmingly male they play golf together they interact they want their friends on the boards that's a natural -- but value.
I think -- says you'll thank the people that -- territory.
You're saying people are -- women all bond from various positions and including and that members of the available at.
But because they all women -- saying I'm not saying -- -- I'm saying that people socialize with people -- like then.
And so what I'm saying is by virtue of that that's why we look across our society most people hang out with the board just like that so you choosing from your friends and your Mark Zuckerberg.
Your friends are mostly met Terry isn't your argument that.
Women are a majority they're not -- and minority group they're under represented they're not part.
But we will have better companies more diversity more opinions with me greater women representation.
At that corporate boards my arguments not mine area I think both of those things are happening I think that the bottom line is better is better when you have women on those boards that the fact.
I think at the same time at the same time he still had issues though where women who are successful who do bring value don't have the opportunity -- Access -- illegal act.
-- it comes down to the role of the board is the board making creative decisions is the board making operational decisions I understand I understand charles' point.
There -- people in shiny using it we should have people in China talking about FaceBook.
But not necessarily on the board the board comes down to numbers and shareholder value I want people from China -- in the I developmental rooms I want winning in those developmental -- I want women they are saying when I wanna get on FaceBook which you -- -- -- I don't think need to be.
On the board last -- -- -- but here's -- at a point see you made the point about whether or not they're being forced whether we're trying to force diversity is not about forcing diversity.
There are a big invested the California State retirement pensions as it is a huge investment they have a right to make a demand of someone -- they invest in that we'll have to YR I am with RAMP.
They they weren't there investors demanded that we get to CEOs -- out.
And -- two CEOs -- -- --
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