I don't know if Points.com board of advisors is the same as a corporate board, but if it it is, it seems to me that Randy would actually be ethically if not legally obligated to make decisions as a board member that enhance the value of points.com's shareholders. Obviously, keeeping the customers happy is part of maintaining and enhancing the value of points.com, but it does not imply that a company should necessarily cut their margins on their products or services beyond what the market requires.

If you think Points.com is making out like bandits, buy some of their stock. If, on the other hand, their returns are average or sub-par, it probably implies that the service they provide is fairly valued. I don't personally know how Points.com is doing, but the travel industry as a whole has NOT had a great record the last several years and I would not be looking to sink a big chunk of change in a new venture.