3 ms·

If Musks campaign is successful and half of companies move their incorporating state elsewhere, Delaware stands to lose $3B/year. That's $3000 per resident.

If Musks campaign is successful and half of companies move their incorporating state elsewhere, Delaware stands to lose $3B/year. That's $3000 per resident. That sounds like a lot for them to have to find from under the couch cushions.

viraptor 3y ago
Why would half the companies move? There's a single company with the "government blocked CEO's billions" issue.
- DoesntMatter22 3y ago
  Already a lot of companies have been moving after this. ALL THE vcs feom thr All In Pod said they are moving all thier companies out of Delaware. More will follow. The reality is Delaware decided to give the CEO no pay, and in turn hurt the shareholders by paying what is likely thr largest ever award to a law firm. And who pays for it? The shareholders when tesla has to pay them an enormous amount of money. All over 1 person who had 11 shares, granted they were a puppet
  - viraptor 3y ago
    They said they're moving. That's different than "have moved". Talk is cheap and kneejerk reactions are simple. Let's see in a month if anyone still remembers about it. Especially after they run that past their lawyers/accountants...
  - Kbelicius 3y ago
    > The reality is Delaware decided to give the CEO no pay, and in turn hurt the shareholders by paying what is likely thr largest ever award to a law firm. > And who pays for it? The shareholders when tesla has to pay them an enormous amount of money. For the time being it saved the company 50billion, which is almost 10% of the value of the company. I don't believe that the law firm is getting anywhere close to that so yea, the court saved money for the shareholders. How is that hurting the shareholders?
  - rsynnott 3y ago
    “We’re making a disruptive move from the place which has all the established law to a place which shrug” “Why?!” [mutters] “What?” [quietly, embarassed] “Podcast said to” I mean, I suppose it’d be a bonanza for the lawyers, but hard to see it being much fun for anyone else.
  - longtimelistnr 3y ago
    This is an utterly insane take that frankly, couldn't be more inconsiderate of reality. Such a meaningless unimportant bit of news that no serious individual needs to pay any mind to
- londons_explore 3y ago
  The cost to move is tiny... And you get the benefits that musk or anyone sympathetic to musk might then invest/buy your company.
  - viraptor 3y ago
    If the cost to move is tiny, then the risk of anyone not buying the company is even more insignificant, since it can be moved before or after the purchase. Do you seriously think someone will pass on an interesting company they were going to invest 6+ figures in, just because of this detail that they can easily correct?
rsynnott 3y ago
If [completely different thing happens] then [completely different consequences], yes. I didn't bother with breakfast today because I was in a rush. If no-one ever ate breakfast again, the egg industry would be thrown into chaos. These facts are not meaningfully related.
cuckatoo 3y ago
Even more. A large portion of Delaware's revenue comes from unclaimed property that is never claimed. The state of incorporation is one of the key deciders on where that money sits until it is claimed.
bandyaboot 3y ago
Finding $3B in the cushions of a couch seems about as likely as half of Delaware incorporated companies leaving.

viraptor 3y ago

Why would half the companies move? There's a single company with the "government blocked CEO's billions" issue.

DoesntMatter22 3y ago
Already a lot of companies have been moving after this. ALL THE vcs feom thr All In Pod said they are moving all thier companies out of Delaware. More will follow. The reality is Delaware decided to give the CEO no pay, and in turn hurt the shareholders by paying what is likely thr largest ever award to a law firm. And who pays for it? The shareholders when tesla has to pay them an enormous amount of money. All over 1 person who had 11 shares, granted they were a puppet
- viraptor 3y ago
  They said they're moving. That's different than "have moved". Talk is cheap and kneejerk reactions are simple. Let's see in a month if anyone still remembers about it. Especially after they run that past their lawyers/accountants...
- Kbelicius 3y ago
  > The reality is Delaware decided to give the CEO no pay, and in turn hurt the shareholders by paying what is likely thr largest ever award to a law firm. > And who pays for it? The shareholders when tesla has to pay them an enormous amount of money. For the time being it saved the company 50billion, which is almost 10% of the value of the company. I don't believe that the law firm is getting anywhere close to that so yea, the court saved money for the shareholders. How is that hurting the shareholders?
- rsynnott 3y ago
  “We’re making a disruptive move from the place which has all the established law to a place which shrug” “Why?!” [mutters] “What?” [quietly, embarassed] “Podcast said to” I mean, I suppose it’d be a bonanza for the lawyers, but hard to see it being much fun for anyone else.
- longtimelistnr 3y ago
  This is an utterly insane take that frankly, couldn't be more inconsiderate of reality. Such a meaningless unimportant bit of news that no serious individual needs to pay any mind to
londons_explore 3y ago
The cost to move is tiny... And you get the benefits that musk or anyone sympathetic to musk might then invest/buy your company.
- viraptor 3y ago
  If the cost to move is tiny, then the risk of anyone not buying the company is even more insignificant, since it can be moved before or after the purchase. Do you seriously think someone will pass on an interesting company they were going to invest 6+ figures in, just because of this detail that they can easily correct?

rsynnott 3y ago

If [completely different thing happens] then [completely different consequences], yes. I didn't bother with breakfast today because I was in a rush. If no-one ever ate breakfast again, the egg industry would be thrown into chaos. These facts are not meaningfully related.

cuckatoo 3y ago

Even more. A large portion of Delaware's revenue comes from unclaimed property that is never claimed. The state of incorporation is one of the key deciders on where that money sits until it is claimed.

bandyaboot 3y ago

Finding $3B in the cushions of a couch seems about as likely as half of Delaware incorporated companies leaving.