Not sure but I would think this treatment of "transparency" deals with recent trends among some closely-held startups to make gratuitous disclosure of their inside financial information, as discussed in this thread having to do with a post entitled "Disclosing Your Finances: Should you publicly publish your finances?": <a href="http://news.ycombinator.com/item?id=1034911" rel="nofollow">http://news.ycombinator.com/item?id=1034911</a>.<p>I have a detailed post in that thread about how such disclosures may expose directors to claims of breach of fiduciary duty, among other things, and how they are therefore not generally a good idea. The related piece to which the thread is attached contains the counter-arguments, as do other posts in that thread.