Meta in talks to reincorporate in Texas or another state, WSJ reports
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Re: Meta in talks to reincorporate in Texas or another state, WSJ reports
#2Source WSJ article: 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)?
Re: Meta in talks to reincorporate in Texas or another state, WSJ reports
#3A 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?
Re: Meta in talks to reincorporate in Texas or another state, WSJ reports
#4A 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?
Texas 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.
Re: Meta in talks to reincorporate in Texas or another state, WSJ reports
#5A 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?
Texas 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 h…
What 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?
Re: Meta in talks to reincorporate in Texas or another state, WSJ reports
#6Earlier quoted context omitted.
Texas 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 h…
What 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?
There 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.
Re: Meta in talks to reincorporate in Texas or another state, WSJ reports
#7Earlier quoted context omitted.
Texas 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 h…
What 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?
don't know the specifics of this situation, but in general it's common for governments to simply not enforce laws making actions illegal but tolerated.
Re: Meta in talks to reincorporate in Texas or another state, WSJ reports
#8A 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?
Texas 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 h…
Dude have a sense of perspective. It's like 20 acres arguably degraded. Louisiana melts that much coastline into the Gulf of [Whatever] every ~hour~[1].
In exchange for being the world leader in spaceflight.
There aren't like, vast stretches of unprotected coastline they can pick from. It's ALL either protected or densely populated. If you want ANY spaceflight, you have to give somewhere, and this is essentially the only place in the continental US that works. If you say "not good enough" for Boca Chica, you're saying "no rockets can be developed in the continental US". Just be honest.
[1] Edit: day
Re: Meta in talks to reincorporate in Texas or another state, WSJ reports
#9Not 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.
Re: Meta in talks to reincorporate in Texas or another state, WSJ reports
#10Earlier quoted context omitted.
Texas 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 h…
What 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?
Something can be illegal but not actively enforced.