Radio Svoboda (Radio Liberty) has published a transcript of the "Radioblog" program, featuring me and Leonid Bershidsky (</a>bearshitsky), who once founded Vedomosti and now works as CEO of KIT Finance. Unfortunately, I didn’t really get a chance to argue properly with bearshitsky: just as we got to a contentious point (Leonid Bershidsky: The question is, why did these people get involved in this shareholder business at all? Why did they buy these shares if they don’t understand what they bought?) and were about to really go at it, the program ended. Nothing you can do about it—it’s the law of the genre: radio shows always end at the most interesting moment. I also really wanted to discuss the political dimension of this whole minority-shareholder struggle. Leonid wrote very interestingly about it. And I completely disagree with him. If you’re interested in the subject, have a read. Part One: By* defending their rights, shareholders are fighting for money, not for truth. The search for truth gets in the way of making money. Who knows—perhaps Navalny’s political activism is actually doing a disservice to those who really just want the state-owned company to pay them more every year. *My response. Part Two: What Navalny is doing is what the press ought to be doing. Including by using the same methods he does: buying a few shares in state-owned companies and then attending meetings, dragging themselves through the courts to get more information, analyzing financial statements. Part Three