" Just because they do, doesn't give the company credibility."
You're right, it doesn't.
However; It would put in question the character of the person joining the Board of Directors of the "Sham Company".
Koog claims Will Swope is honest.
Sounds to me like he places more important things before the Almighty Dollar.
Things like integrity and accountability.
Which leads me to believe he wouldn't be so...
"Desperate to make a buck"
....Referring to your point:
"Why not? He gets paid to do very little."
I sincerely doubt he'd endorse a Sham company, if, as Koog claims, he's an honest guy.
I could be wrong....
Lord knows... I've been wrong before.
Time will tell....
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