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Nuts that the state has the right to block this kind of thing. What foolishness is that?
It’s true. Our counsel informed us that we didn’t need to register. Counsel was wrong. Now we have new counsel :) We’ve submitted all the paperwork and have worked closely with California. This all happened a long time ago. I’m not sure what the right level of regulation is (it’s hard taking care of 50 states at once - one state registration was 2,277 pages and weighed 25 pounds https://twitter.com/austen/status/1153…
25 lbs of paperwork to register an online school? Sounds less about protecting students and more towards protecting incumbents and cronies.
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Legal counsel is about risk mitigation: do we fire this person? The question isn’t whether it’s moral or ethical. It’s what the risk exposure? What are the likely outcomes? Do we have our bases covered? Fire them! (Or, we can’t, it overexposes us, create a new department, assign them and then dissolve the department some time later and declare them redundant).
I'm not sure what you mean by this. When counsel tell you something is legal, and it isn't, there's little subjectivity.
It’s true. Our counsel informed us that we didn’t need to register. Counsel was wrong. Now we have new counsel :) We’ve submitted all the paperwork and have worked closely with California. This all happened a long time ago. I’m not sure what the right level of regulation is (it’s hard taking care of 50 states at once - one state registration was 2,277 pages and weighed 25 pounds https://twitter.com/austen/status/1153…
Can you go after your old counsel using your new counsel for damages?
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Reminds me of this story: https://a16z.com/2014/02/06/why-i-did-not-go-to-jail/ TL;DR, A widely respected CFO makes a suggestion regarding stock and being competitive as far as employee compensation. CFO says that they have done the same thing at numerous companies. The CEO is not very knowledgeable and asks the general council (who unlike a lot of places at the time reports directly to the CEO, not the CFO) to weigh…
That's an amazing story. Did PWC's people go to jail as well?
However, it sounds a bit like backdating stock options type thing, and a fair amount of people went to jail over that across various industries.
I realize California isn't just "any" state but needing to seek unique approval from up to all 50 states just to run an online school seems like a really high (and expensive) bar.
It would be nice if more states cooperated on things like this. Then you seek approval from the collective, rather than at an individual level.
Earlier quoted context omitted.
25 lbs of paperwork to register an online school? Sounds less about protecting students and more towards protecting incumbents and cronies.
Or, it serves as an appropriate barrier to prevent people from scamming prospective students out of huge sums of money.
After reading this thread and considering it, the regulations seem fine, but lack of consistency between states seems to be a large pain-pont. I realize California isn't just "any" state but needing to seek unique approval from up to all 50 states just to run an online school seems like a really high (and expensive) bar. It would be nice if more states cooperated on things like this. Then you seek approval from the c…