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Meta in talks to reincorporate in Texas or another state, WSJ reports
- science4sail 2y agoSource WSJ article: https://www.wsj.com/tech/meta-incorporation-texas-delware-f06e8bab?mod=tech_lead_story https://www.wsj.com/tech/meta-incorporation-texas-delware-f0... > Last year, Delaware’s legislature made it easier for big shareholders to use stockholder agreements to assume powers normally held by a company’s board. The Delaware Chancery Court also ruled in Meta’s favor in April, dismissing a case that argued the company had to consider societal impacts in addition to chasing profits. I wonder if this is an attempt to disempower minority shareholders (i.e. anyone that isn't Zuck)?
- bagels 2y agoYes. He saw what happened to Musk.
- hinkley 2y agoMusk got told he was too greedy about his salary. Which he was.
- _zoltan_ 2y agowithout Musk there is no Tesla.
- hinkley 2y agoI know a PayPal employee who would get a vein on his forehead if you suggested Leon had anything to do with their success. Whether it’s true or not another .1% of his net worth per year isn’t going to prove it.
- HWR_14 2y ago> another .1% of his net worth per year isn’t going to prove it. It was a 56 billion dollar pay package. That's substantial even for Elon.
- deleted 2y ago[deleted]
- tim333 2y agoMusk basically offered shareholders a deal that if he 10x ed the stock he gets 10% of that. The shareholders oked it twice but a judge in Delaware said lets block that. It wasn't really about greed. I kinda feel in business if two parties make a deal and are happy with it then it's not really the job of the courts to prevent them.
- sergiotapia 2y agowhat do you mean greedy? he made a deal and crushed the metrics necessary to hit that deal. without him there is no tesla.
- 9283409232 2y agoA lot of SV companies keep moving or talking about moving to Texas but is Texas really that billionaire friendly? Reuters says it is "perceived by some.." but is it?
- Conscat 2y agoTexas allows SpaceX to illegally disrupt 5 endangered wildlife reserves, ignore rocket launch regulations, and illegally block roads, so perhaps that is some of the appeal. Last year the Texas government decided they can do basically whatever they feel like without any checks to their authority in other regards, so if Greg Abbott is personally telling billionaires he will protect their interests, I honestly believe he would.
- reissbaker 2y agoWhat do you mean by "illegally"? If the government allows SpaceX to block roads, then... SpaceX blocking roads is legal. What other definition of "legal road closure" is there?
- Conscat 2y agoThere are limits to when and for how long you are allowed to close roads for specific purposes, just as there are limits to when and where you can launch rockets of specific sizes. SpaceX ignored the rules, and nobody enforces them despite the protests from residents of Boca Chica. Obviously the Texas government agrees with you that the law is whatever they choose to enforce, but there are still written rules.
- TheOtherHobbes 2y agoAnd if the laws are on the books, it makes legal action against the state - as well as the offender - likelier and more remunerative.
- Conscat 2y ago
- stego-tech 2y agoNot surprising, and I expect more of this in the decade to come. It feels like we’re finally seeing companies begin to draw lines in the sand on where their interests actually lay: power (which Texas grants in spades), profit (which Delaware has historically protected), or values (in which case they would incorporate/move to a place that aligns with said values - of which vanishingly few companies do). If anything, it’s kinda…helpful? As a consumer, I mean. If I see a company moving from CA to TX, well, that’s probably for reasons I have issue with, and therefore make it easier for me to not do business with them going forward. If companies want to advertise their actual values so openly by reincorporating in another state, well, more power to them I guess.
- lolinder 2y ago> profit (which Delaware has historically protected), or values (in which case they would incorporate/move to a place that aligns with said values - of which vanishingly few companies do). Which values exactly are being expressed by being incorporated in, say, California? I can totally see how companies that chafe at the requirements imposed on them by some of these high-government states would choose to leave so they can avoid filling said requirements, but what would a board meeting look like for a company that prides itself on values where they decide on CA? "We really want to pay more taxes" doesn't seem likely—why not just allocate funds to a charity of your choice? "We need the government to tell us to treat our employees well" also seems unlikely—why not just do the right thing in any state? What is the rational values-based reason for incorporating in CA? ("Sticking it to DE" isn't rational.)
- RickS 2y ago> Which values exactly are being expressed by being incorporated in, say, California? Depends on when. The whole point is that the incentives, and signal generated by responding to them, are changing a bunch. Just my opinion, but between ~2008 and ~2016, incorporating in CA could at least potentially be read as "We're really serious about hiring the best talent and doing an unusually good job, to the point that we're willing to pay a premium." Implied in the above is the idea that paying said premium would result in success that strongly outweighed the costs, and that you could more or less keep that success, without putting a huge target on ones back for additional taxation, regulation, social stigma, etc. California was highly regulated and expensive, but not quite punitively regulated and expensive. Over time, that signal has weakened. The relationship between SV and CA feels more actively hostile. people do what everyone's doing, or really want to be near VCs and other network effects. These things have always been true, they've just lost the cover provided by that other more grand and inspiring explanation. despite the drawbacks I do think it's still the best place to start a very small tech startup. The pool of both talent and peer companies is completely unmatched, even in other large tech cities. One thing that's hard to decouple: to what degree is this shift because of the regulatory and social environments becoming authentically hostile to tech (on many fronts: taxation, gentrification, looseness-for-speed, etc), and to what degree does it just seem that way to people that get some combination of cash and dopamine from shifting to see the world through that lens? IMO both things have certainly occurred, but I'm less sure of the proportions. Edit — another thing that's very interesting to me: massive ideological decoupling in the C-suite vs IC classes. My experience during that time period felt much more "flat", both hierarchically and ideologically. I started out as a random intern and not only was it very easy to get in the room with some staggeringly rich and brilliant people, I genuinely felt a very strong and natural vibe-compatibility with them. They mostly seemed regular. Thiel was an exception, but only mildly. Intense vibes, but decent ones. I'd have guessed that as I aged out of my 20s and became more successful that I would, if anything, be better able to relate to some of those big dogs. Not the case at all. I think back then both classes were less aware that one was or was becoming an inhumane robber barron. Both sides know that now.
- m_ke 2y agoI can't imagine what it's like at Meta right now, with the CEO publicly stating that they're firing the bottom 5% of performers and then a week later stating that the LLMs that his researchers / engineers are working on will soon be able to replace them. Zuck needs Yann LeCun and other senior researchers at Meta a lot more than they need him. If they were to quit there would be a line out the door to hand them as much money as they want to start a competing open research lab. I bet a ton of top researchers from other labs would be happy to join too, since from what I've heard from friends they're all miserable from dealing with incompetent management. On current trajectory one of Sam Altman / Zuck / Elon will end up having full control over the frontier models that are trained on their huge new clusters. All 3 of them are unaccountable to anyone.
- renewiltord 2y ago[flagged]
- m_ke 2y agoSir, this is a Wendy's
- renewiltord 2y ago[flagged]
- __loam 2y agoNobody except people who value democratic systems of government I guess.
- busterarm 2y agoEngineers still need big paychecks and big funding pools to work on AI things. There are only so many deep pockets out there to fund this.
- deleted 2y ago[deleted]
- dannyisaphantom 2y agoSeems like there is a multi-industry push to move into Texas; came across a video the other day of Matthew McConaughey & Woody Harrelson (and other big name actors) reprising their True Detective role calling for the Texas legislature to increase incentives that bring Hollywood productions over to Texas. [1] https://www.rollingstone.com/tv-movies/tv-movie-news/matthew-mcconaughey-woody-harrelson-true-detective-texas-based-productions-1235250668/ https://www.rollingstone.com/tv-movies/tv-movie-news/matthew... [2] https://variety.com/2025/tv/news/matthew-mcconaughey-woody-harrelson-true-detective-true-to-texas-ad-1236290018/ https://variety.com/2025/tv/news/matthew-mcconaughey-woody-h...
- hnthrow90348765 2y agoWhy TF does everyone want to be in Texas heat or not be able to go outside?
- tokioyoyo 2y agoEngineers don’t seem to be taking the bait, and people are very reluctant to move away from basically the most perfect weather in the entire world almost year round.
- darth_avocado 2y agoWhen industries move away, taxes do as well. When the taxes go down, services and property values go down. Engineers may not want to give up perfect weather, but they still want to be employed, have their properties not depreciate and want good schools.
- lesuorac 2y agoEh, when somebody quits Meta in Texas and gets hit with a Non-Compete they're move real fast back to CA.
- tokioyoyo 2y agoEh, people will still move to California to start a business. When it gets threatened enough, it'll cave and play ball with other states to get back into the game. Having an insane upper hand with the climate based desirability will help them to get back on track, in my opinion. Now, I don't live in CA, and wouldn't want to move for some other reasons, but I genuinely don't think there is a better climate than SF, LA, SD metro areas. Maybe Cape Town, but then again, different problems.
- foogazi 2y agoIs it a mental illness if a billionaire many times over still wants more money ?
- adamredwoods 2y agoBillions of dollars is beyond human comprehension. We handle it better with 1,000 millions. But then the human mind thinks about things on a scale of millions of dollars being a minute amount.... which is not how the general populations thinks about personal expenditures.
- adamredwoods 2y agohttps://futurism.com/what-is-a-billion-2 https://futurism.com/what-is-a-billion-2
- jfengel 2y agoThe DSM definitions usually require some aspect of being made unhappy by your mental state. He seems pretty thrilled to be himself.
- lolinder 2y agoA disorder needs to interfere with regular functioning but does not need to make one unhappy. Someone with Narcissistic Personality Disorder doesn't necessarily even recognize that they're causing havoc, much less feel bad about it.
- hinkley 2y agoNot if it’s narcissism or sociopathy.
- markeroon 2y agoIs that true of something like NPD also?
- moogly 2y agoSo why the ketamine?
- LightBug1 2y ago"When everyone around you is douching, better get back to basics and douche" - The Douche.
- throwaway984393 2y ago[dead]
- oldpersonintx 2y ago[dead]
- hedayet 2y ago"Year of Efficiency" -> "Year of Intensity" -> "Year of slavery"?
- readthenotes1 2y agoI'm wondering if the real slaves of today had access to the internet if they would object to you diminishing their situation
- hedayet 2y agoOf course I’m not comparing Meta employees to slaves, but with a finite level of stretch, I can see a path where CEOs like Mark Zuckerberg and Elon Musk might eventually say things like, ‘Companies need more slavery energy’ or ‘Make America great again—back to pre-emancipation efficiency levels.’"
- asdasdsddd 2y agoSeems like a lot of Californians are feeling insecure about this kind of news. Maybe its time to re-evaluate why this is happening instead of lashing out. California is a beautiful state with great weather, it has some of the most important trade and transit hubs in the west, and a robust education system. There's no reason we can't turn this around, almost all of our issues are governance related problems.
- NewJazz 2y agoMeta isn't incorporated in California.
- asdasdsddd 2y agoThe angry people in the comments aren't from delaware.
- dkjaudyeqooe 2y agoIt's a legal relocation, not a physical one.
- kactiron 2y agofuck off we're full
- xyst 2y agoGood for billionaires, and shareholders, capitalists. Bad for labor. Texas is going down the shitter. Local infrastructure is outdated, emergency systems stretched, minimal to no foresight in weatherization of critical systems such as power grid. Any time it gets below freezing, anxiety shoots through the roof because 2021 was a real fucking disaster. The TX grid is a joke. Let’s not forget how the state leaders bend to the GOP and use our tax dollars for political stunts (useless border walls used for photo ops, bussing migrants long distances for political theater, sending state guard to border to “protect” border and delay transportation of perishable goods). I feel bad for people moving here under the allure of “cheap housing”. - strong climate change denial here due to state leaders being O&G industry puppets - anti-abortion - anti-progressive I can’t wait to leave this shithole.
- insane_dreamer 2y agoTo any who are confused: Meta's HQ is in CA, but it is incorporated in Delaware. This is not referring to moving the HQ to TX but incorporation from DE to TX.