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

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171–180 of 185 posts

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

#171
post #138

Earlier quoted context omitted.

No state income tax. Very business friendly, especially for the Good Ol' Boys club.

> No state income tax. Property taxes are quite high in TX though. Even a conservative government has to fund itself somehow.

Yes, but a billionaire has a very small percentage of their net worth in personal real estate.

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

#172
post #55

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.

Yeah he could easily get Hinton (who hates nothing more than Sam Altman) to endorse a new proper open AI lab, similar to what was described in the OpenAI Charter. Karpathy, Alec Radford, and a ton of their old students are practically free agents right now who could probably be convinced to join. There's probably even a chance of someone like Wojciech Zaremba leaving OpenAI to join them. EU would build them CERN styl…

yes ... let's dream on ... until the new openAI becomes just like the old openAI again.

human nature will never change.

q: what is the definition of an optimist?

a: a person with no experience.

q; what is the definition of a pessimist?

a: an optimist with experience.

mine ;)

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

#173
post #43

Earlier quoted context omitted.

> a week later stating that the LLMs that his researchers / engineers are working on will soon be able to replace them. This is a pessimistic interpretation of Mark's words that has been trumpeted in the media. Which I am appalled to admit. He said that they anticipate the majority of new code to come from AI models rather than human engineers. He then adds that they expect developers to be augmented by these tools.…

I'm talking about this: https://www.threads.net/@zuck/post/DFNf73PJxOQ > "...we'll build an AI engineer that will start contributing increasing amounts of code to our R&D efforts". What do you think will happen when these models are good enough to do 90% of engineering work? He's already putting a squeeze on his employees now ( https://africa.businessinsider.com/news/meta-ceo-mark-zucker... ) > "I think whoever gets…

> What do you think will happen when these models are good enough to do 90% of engineering work?

Honestly? I think we'll see a lot of vengeful and technically capable people who are out of work and who are looking to get revenge on the people that laid them off.

Some of those people who feel they have nothing to lose will build swarms of small drones that will use machine vision to track down Zuckerberg whoever they feel wronged them and kill them.

The future is going to be very, very spicy.

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

#174
post #97

Earlier quoted context omitted.

And it was already embarrassing for a myriad of reasons before that including how he went on Joe Rogan talking about how corporations need more "masculine energy". In the hobbies I participate in (notably I'm not in a major tech hub) some of these tech companies are getting a similar social stigma to like finance (and this is especially pronounced among women I know who really don't like what they view as "tech bros"…

Indeed, I think the inauguration was kind of Zuck's "pedo guy" moment, where the pieces fell into place and a whole bunch of people at once were like... oh, yes, okay I see what is actually the state of things here.

I've always thought that Zuck looked like a psychopath, even leaving aside his actions, many of which I have read about in the past.

you just have to take a look at his face, and those mad staring eyes.

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

#175
post #69

Earlier quoted context omitted.

>I'm not sure what's keeping LeCun at Meta at this point. Maybe he's happy with his compensation, his coworkers, the food at the cafeteria and doesn't want to uproot his life or be burdened with running a company. >I can imagine he's not happy with Zuck's capitulation Who did Zuck capitulate to?

I’d be pretty embarrassed to be working for someone who kissed the ring like Zuck did on Jan 20.

very, except that embarrassed is too weak a word.

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

#176

A 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?

It's more about the business environment. California has, sadly, gotten increasingly punitive on business activity beyond the remit of what one would consider "standard". Such as legally mandating the sexual, ethnic, and gender composition of boards (e.g. SB 826 and AB 979), conditioning permits on companies committing to community benefit agreements that go beyond the direct impacts of the business (e.g. funding art…

Except for the Board thing you've just described Texas...

And in Texas if you disagree with the governor he'll send police to your business and threaten to imprison you.

I'd rather have burdensome regulation than a gun in my face.

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

#177

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…

Vibes strike again.

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

#178
post #67

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.

$META is hitting 700, and RSU refresher price for 2022 performance was ~110. My bet, is Yann got a huge set of packages with the AI talent race, and what may have been a $10M/4yr package may now suddenly be 70M+. Unlikely any other AI lab would be liquid like that.

Presumes he's a weird creature that is motivated by the number. Don't really need to care anymore if you've already got $10 million.

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

#179
post #93

Earlier quoted context omitted.

> He said that they anticipate the majority of new code to come from AI models rather than human engineers. He then adds that they expect developers to be augmented by these tools. only 2 ways this can work: 1) Meta collectively generates 5x more code than it presently is capable of generating 2) Meta generates the same amount of code than it presently does, with fewer engineers since each engineer can (supposedly) g…

The problem with #2 is Meta doesn't operate in a vacuum. Assuming there are problems to be solved, if Meta doesn't do #1 then someone else will. The someone else will eventually surpass Meta.

Surpass Meta in what? Meta’s revenue comes from social networks. Revenue doesn’t not increase with LOC. Writing 5x more code does not get you X billion users.

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

#180
post #151

Earlier quoted context omitted.

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.)

You also have all sorts of ancillary fees like the Information Commissioner’s annual charge.
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