Professor Seth C. Oranburg examines shareholder activism as a tool for influencing governance, defining it as investors leveraging ownership for change via proxies, proposals, or pressure. He profiles activists like Carl Icahn and Nelson Peltz, with cases like Dell's buyout fight, Exxon's climate push, and Disney's restructuring battle. The episode debates activism's value—boosting accountability vs. promoting short-termism (e.g., Sears' collapse)—and notes social media's role in amplifying influence.