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> Ticketmaster has agreed to pay a $10 million criminal fine Live Nation is worth $16 Billion. This is like a person with a $100k net worth having to pay a $62 fine, basically an expensive parking ticket. They might as well tell them to write "I will not hack my competitors" on the blackboard 100 times.
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If corporate management knew about and encouraged this behavior, how is that not "Ticketmaster" doing it? IMO both the individuals and the corporation should be held responsible.
I guess I wasn't as clear as I thought here. Corporations can't act, people inside the corporations act. If laws get broken, the individuals who made that choice should pay the price. This wasn't a defense of the company, I'm fine with the company getting fined here, so long as the people who did this get penalized as well. So long as we let companies be a sort of shelter for the people inside the company, this kind…
> Ticketmaster has agreed to pay a $10 million criminal fine Live Nation is worth $16 Billion. This is like a person with a $100k net worth having to pay a $62 fine, basically an expensive parking ticket. They might as well tell them to write "I will not hack my competitors" on the blackboard 100 times.
Your point still stands, but a better comparison I think is cash on hand, since valuation doesn’t mean much in terms of paying fines. You can’t pay the government in stock. LYV had $2.6b on hand last quarter.
There's prior art, this is what the IRS makes folks who are attempting to renounce their citizenship (or give up a green card held for over 8 years) do for illiquid assets when paying the expatriation tax.
I still can't believe regulators allowed Ticketmaster and Live Nation to merge
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I guess I wasn't as clear as I thought here. Corporations can't act, people inside the corporations act. If laws get broken, the individuals who made that choice should pay the price. This wasn't a defense of the company, I'm fine with the company getting fined here, so long as the people who did this get penalized as well. So long as we let companies be a sort of shelter for the people inside the company, this kind…
Kind of like saying "the 49ers didn't lose, their players did"...
That's all I'm looking for here.
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Your point still stands, but a better comparison I think is cash on hand, since valuation doesn’t mean much in terms of paying fines. You can’t pay the government in stock. LYV had $2.6b on hand last quarter.
You totally can pay the government in stock, you just have to sell it or set it aside in a trust. There's prior art, this is what the IRS makes folks who are attempting to renounce their citizenship (or give up a green card held for over 8 years) do for illiquid assets when paying the expatriation tax.
Earlier quoted context omitted.
You totally can pay the government in stock, you just have to sell it or set it aside in a trust. There's prior art, this is what the IRS makes folks who are attempting to renounce their citizenship (or give up a green card held for over 8 years) do for illiquid assets when paying the expatriation tax.
but LiveNation doesn't hold stock worth $16B and cannot easily issue new stock.
"Uh, no Judge, I don't think I should be forced to go to prison, that's hard"
[edit] Maybe this is controversial, I dunno, I might just be old fashioned that way, but my opinion is if you find the punishment too onerous maybe don't do crime.
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> Because humans drive tired, drunk, while texting, etc, But I don't. I don't care about 30k deaths a year if I'm killed by a floating point exception or an image reconnaissance glitch making my car think the truck in front of me is part of the sky.
And I care about dying from being hit by lightning and airplane crashes. It's statistically so unlikely that it's ridiculous to worry about it. If you die from a car crash it doesn't matter if it was from a drunk driver or an ai glitch. What matters is which is more likely- and humans are assholes. It will be orders of magnitude more likely to die by a human's hand than a random glitch. > "But I don't" I'm glad. Cras…
At what threshold should one be willing to bet their lives in this probability every time they drive?
Right now we are speculating what the odds a self driving car has to make a mistake. But there aren’t any truly self driving car out there. So how do you determine the actual odds? If you replaced all the cars with self driving cars how many accidents would we have?
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While superficially a good idea, it would probably punish shareholders more than the actual perpetrators and would most likely lead to a far lower performing company, so a weaker economy. How many state run companies do you know are performing great? Tesla may do any number of shady or illegal things but without Musk and his vested interest in the company it would probably be a footnote in some corporate obituary.
Why? It’s not like shareholders are the ones doing the work inside the company.
> Ticketmaster has agreed to pay a $10 million criminal fine Live Nation is worth $16 Billion. This is like a person with a $100k net worth having to pay a $62 fine, basically an expensive parking ticket. They might as well tell them to write "I will not hack my competitors" on the blackboard 100 times.