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Meta in talks to reincorporate in Texas or another state, WSJ reports

reuters.com

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Re: Meta in talks to reincorporate in Texas or another state, WSJ reports

#151

Post by orra »

mattmanser wrote: post #102
egorfine wrote: post #77

Earlier quoted context omitted.

> I'm sure France would be willing to set him up Are you familiar with realities of incorporating a startup in the EU?

In the UK it costs £12 and takes 5 minutes. It costs between £300-600 per year for an accountant to file your accounts, and £12 for your confirmation statement. And did when we were part of the EU. Cheaper and quicker than America. You don't incorporate in the EU, you incorporate in one of the 27 different countries. All have wildly different requirements.

(These costs rocketed last year. Incorporation is now £50, and an electronic confirmation statement is £34.)

Re: Meta in talks to reincorporate in Texas or another state, WSJ reports

#153

Post by alecb »

kelnos wrote: post #131
tgma wrote: post #106

Earlier quoted context omitted.

I've seen him on record that he'd pretty much work for whoever pays him (in the context of research grants for military). Virtue signaling to feel good is only worth so much to people. Humans compartmentalize very well.

It saddens me that taking an ethical stance is now derisively considered "virtue signaling". I would never work at Meta, not because refusing to do so would make me feel good, but because working there would make me feel like I'm making the world a worse place.

The idea of having a moral compass is antagonistic to the worldview of a lot of people in tech, so they are instinctively dismissive or condescending to anyone who does.

Re: Meta in talks to reincorporate in Texas or another state, WSJ reports

#154

Post by UncleOxidant »

egorfine wrote: post #77
UncleOxidant wrote: post #50

Earlier quoted context omitted.

I'm not sure what's keeping LeCun at Meta at this point. I can imagine he's not happy with Zuck's capitulation. I'm sure you're right that if he decided to leave he'd easily be able to get funding. I'm sure France would be willing to set him up with an AI research lab to get him back there. And there would be plenty of other companies/labs that would be trying to get him.

> I'm sure France would be willing to set him up Are you familiar with realities of incorporating a startup in the EU?

I suspect France/EU would be willing to set him up in a government funded research lab - possibly they already have something going that they could put him in charge of. No issues with incorporation.

Re: Meta in talks to reincorporate in Texas or another state, WSJ reports

#155

Post by giantrobot »

jedberg wrote: post #110
Aurornis wrote: post #104

Earlier quoted context omitted.

> the CEO publicly stating that they're firing the bottom 5% of performers I understand that people don't like any talk about layoffs and performance management, but I've never worked at a company where being in the bottom 5-10% of performers meant your job was safe. I've also never worked at a big company that didn't have at least 1-in-20 people who were clearly underperforming and everyone around them knew it. I kn…

The problem isn't that they are cutting 5%, it's that they use stack ranking. Within a team of 10, you may have the top 10 performers in the whole company, but the manager still has to rank them and assign at least one of them the bottom ranking, or engage in a lengthy battle to defend their high rankings. They're not actually finding the bottom 5%, they're giving managers an excuse to get rid of people the don't lik…

> They're not actually finding the bottom 5%, they're giving managers an excuse to get rid of people the don't like for whatever reason.

More insidious is the rankings are capricious and arbitrary despite haughty claims. Unless you're in the top quintile and know so explicitly you can never feel safe in your position. You can also drop into the bottom quintile of the stack for no other reason than someone else on your team self aggrandized a bit more right before reviews.

Re: Meta in talks to reincorporate in Texas or another state, WSJ reports

#156

Post by adamredwoods »

adamredwoods wrote: post #47
foogazi wrote: post #37

Is it a mental illness if a billionaire many times over still wants more money ?

Billions 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.

https://futurism.com/what-is-a-billion-2

Re: Meta in talks to reincorporate in Texas or another state, WSJ reports

#157

Post by egorfine »

UncleOxidant wrote: post #154
egorfine wrote: post #77

Earlier quoted context omitted.

> I'm sure France would be willing to set him up Are you familiar with realities of incorporating a startup in the EU?

I suspect France/EU would be willing to set him up in a government funded research lab - possibly they already have something going that they could put him in charge of. No issues with incorporation.

Sure, with roughly 50% taxes and a really dynamic free labour market.

Don't judge me, I'm living in the EU and I love the place, but regulations and business climate are definitely not great.

Re: Meta in talks to reincorporate in Texas or another state, WSJ reports

#158

Post by egorfine »

mattmanser wrote: post #102
egorfine wrote: post #77

Earlier quoted context omitted.

> I'm sure France would be willing to set him up Are you familiar with realities of incorporating a startup in the EU?

In the UK it costs £12 and takes 5 minutes. It costs between £300-600 per year for an accountant to file your accounts, and £12 for your confirmation statement. And did when we were part of the EU. Cheaper and quicker than America. You don't incorporate in the EU, you incorporate in one of the 27 different countries. All have wildly different requirements.

UK was vastly different from the mainland EU. You're right that the EU is not singular, but once we start talking of Germany, the Netherlands, France, etc. - we quickly hit regulations that bear no resemblance to a free market and some of which are incompatible with IT business whatsoever.

Re: Meta in talks to reincorporate in Texas or another state, WSJ reports

#159

Post by dmonitor »

renewiltord wrote: post #19
Conscat wrote: post #4

Earlier 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…

[flagged]

I think it's only a matter of time before certain Americans are prevented from leaving the country for national security / population growth concerns.

Re: Meta in talks to reincorporate in Texas or another state, WSJ reports

#160

Post by diogocp »

jedberg wrote: post #150
diogocp wrote: post #147

Earlier quoted context omitted.

> 72% of all votes cast (...), excluding votes of shares owned, directly or indirectly, by Messrs. Elon and Kimbal Musk. https://www.sec.gov/Archives/edgar/data/1318605/000110465924...

That's still shares though, not people. Ok, we've excluded two large shareholders, but there are still plenty other large holders who are friends and associates of the board.

I'm not sure what your point even is.

Large shareholders have large shareholdings. They have a lot of skin in the game. They're going to vote according to what they think is best _for themselves_, not for Musk. You don't fool around when you have billions of dollars at stake.

Small shareholders who only own a couple of shares can afford to vote for fun because, at the end of the day, the outcome won't affect them much. And for fun they did vote, 90% in favor. [1] Their support was never really in question. The only doubt was whether the big institutional investors (BlackRock, Vanguard, etc.) would go along with it. Vanguard had actually originally voted against it in 2018, but supported it in 2024.

[1] https://www.reuters.com/business/autos-transportation/musks-...

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