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How would it work? If any of the management knew the bankruptcy was pending and were still allowing bookings, they are personally responsible for the costs. If

How would it work? If any of the management knew the bankruptcy was pending and were still allowing bookings, they are personally responsible for the costs. If they can't afford it, they face prison time. I bet that would fix the issue damn quickly.

ChrisMarshallNY 11mo ago
There are soooo many issues that would be fixed by holding the C-Suite (and maybe even the Board and/or shareholders) personally responsible. Won't happen in this timeline, though.
- SoftTalker 11mo ago
  That would kind of destroy the whole rationale for corporations to exist.
  - viraptor 11mo ago
    Sounds good? I mean, we tried the whole corporation without responsibility for quite a while. It doesn't seem to work very well and especially on HN there's at least one post reminding us of that every day.
    - tbrownaw 11mo ago
      Isn't that just because the successes are invisible?
      - viraptor 11mo ago
        Successes are still visible... But maybe we'd be ok with fewer successes and fewer failures?
  - JumpCrisscross 11mo ago
    > That would kind of destroy the whole rationale for corporations to exist For management? Not at all. It's almost just customary that employment agreements don't make employees, including senior managers, personally liable for their mistakes. You'd just have to pay Board members and executives boatloads more. (Or, more accurately, they'd be able to justify more pay for the risk. And then go and purchase insurance to offload it anyway.)
    - ChrisMarshallNY 11mo ago
      Might have to be shank insurance, if they get real jail time. I’m all for paying folks that legitimately have real power and responsibility, very well, but I would also hold them to rigorous standards. For example, police. A cop having a bad day, can ruin your whole life. Pay the cop well, but also, ruin their life, if they abuse their power. Again, we’re in the Dark Timeline, so that won’t happen.
      - JumpCrisscross 11mo ago
        > Might have to be shank insurance, if they get real jail You’d have a difficult time proving intent, nevertheless. The only practical solution is reducing the standard of proof, which is historically a straight line to hard oligarchy. > A cop having a bad day, can ruin your whole life. Pay the cop well, but also, ruin their life, if they abuse their power Cops deal in violence, which is far more black and white than e.g. being a hotelier. That said, starting with cops is a good idea. Culture of responsibility and all that.
- PunchyHamster 11mo ago
  LLC were designed precisely to avoid that responsibility. The idea being probably that not risking your entire personal wealth just to lead company would lead to more entrepreneurship, but it clearly ended up with small businesses (without legal or clear reason to make it LLC) not doing that cos of bureucracy, and everyone above abusing that construct wherever they can. CEOs ballooning compensation would even be understandable in conditions where their biggest fuck up could get their private stuff seized but...
  - Projectiboga 11mo ago
    CEO compensation above some annual threshold shoukd be escrowed for 10 to 20 years. That would fix most of this pump and dump stuff by the executive class.
SoftTalker 11mo ago
Prison doesn't fix every issue. It fixes very few of them actually, except the public's demand for punishment. Personal financial liability would probably be more effective.

ChrisMarshallNY 11mo ago

There are soooo many issues that would be fixed by holding the C-Suite (and maybe even the Board and/or shareholders) personally responsible. Won't happen in this timeline, though.

SoftTalker 11mo ago
That would kind of destroy the whole rationale for corporations to exist.
- viraptor 11mo ago
  Sounds good? I mean, we tried the whole corporation without responsibility for quite a while. It doesn't seem to work very well and especially on HN there's at least one post reminding us of that every day.
  - tbrownaw 11mo ago
    Isn't that just because the successes are invisible?
    - viraptor 11mo ago
      Successes are still visible... But maybe we'd be ok with fewer successes and fewer failures?
- JumpCrisscross 11mo ago
  > That would kind of destroy the whole rationale for corporations to exist For management? Not at all. It's almost just customary that employment agreements don't make employees, including senior managers, personally liable for their mistakes. You'd just have to pay Board members and executives boatloads more. (Or, more accurately, they'd be able to justify more pay for the risk. And then go and purchase insurance to offload it anyway.)
  - ChrisMarshallNY 11mo ago
    Might have to be shank insurance, if they get real jail time. I’m all for paying folks that legitimately have real power and responsibility, very well, but I would also hold them to rigorous standards. For example, police. A cop having a bad day, can ruin your whole life. Pay the cop well, but also, ruin their life, if they abuse their power. Again, we’re in the Dark Timeline, so that won’t happen.
    - JumpCrisscross 11mo ago
      > Might have to be shank insurance, if they get real jail You’d have a difficult time proving intent, nevertheless. The only practical solution is reducing the standard of proof, which is historically a straight line to hard oligarchy. > A cop having a bad day, can ruin your whole life. Pay the cop well, but also, ruin their life, if they abuse their power Cops deal in violence, which is far more black and white than e.g. being a hotelier. That said, starting with cops is a good idea. Culture of responsibility and all that.
PunchyHamster 11mo ago
LLC were designed precisely to avoid that responsibility. The idea being probably that not risking your entire personal wealth just to lead company would lead to more entrepreneurship, but it clearly ended up with small businesses (without legal or clear reason to make it LLC) not doing that cos of bureucracy, and everyone above abusing that construct wherever they can. CEOs ballooning compensation would even be understandable in conditions where their biggest fuck up could get their private stuff seized but...
- Projectiboga 11mo ago
  CEO compensation above some annual threshold shoukd be escrowed for 10 to 20 years. That would fix most of this pump and dump stuff by the executive class.

SoftTalker 11mo ago

Prison doesn't fix every issue. It fixes very few of them actually, except the public's demand for punishment. Personal financial liability would probably be more effective.