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https://i.imgur.com/nBlgNvL.mp4
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Jan 31, 2024 07:11
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Get the gently caress out of the way!
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Jan 31, 2024 08:31
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haveblue posted:My favorite part is how this is the second time a Delaware court has cost Musk tens of billions of dollars In fact, this ruling plus the twitter ruling means Delaware has (indirectly) cost Musk $100 billion dollars.
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Jan 31, 2024 08:41
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How bad are you at business where Delaware fucks you over as a ceo? Twice?
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Jan 31, 2024 09:59
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Technically this is the first time he’s been hosed over by them as a CEO. The CEO of Twitter was on the other side of the last suit.
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Jan 31, 2024 10:02
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Elfface posted:"But in a tweet late Tuesday afternoon, Musk wrote, “Never incorporate your company in the state of Delaware.”" I'm not an American, so I admit I don't quite get the joke- is Delaware exceptionally business-friendly or something?
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Jan 31, 2024 10:58
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Me either, but yes. Pretty much every big American company is technically based out of Delaware (Has a PO Box there) for reasons. I forget if they're tax reasons or rights or what.
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Jan 31, 2024 11:09
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lol if your company isn’t based at 1209 North Orange Street in Wilmington
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Jan 31, 2024 11:11
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CommissarMega posted:I'm not an American, so I admit I don't quite get the joke- is Delaware exceptionally business-friendly or something? Yes. It's basically all they've got. https://www.sacattorneys.com/best-state-to-incorporate-delaware-or-california.html quote:Delaware has been the unanimous preferred state of incorporation by investors. The Delaware General Corporation Law (DGCL), which governs disputes brought against businesses, is pro-business, modern, and flexible. The favorable treatment that businesses have garnered in Delaware has established its reputation. Delaware courts and judges have historically offered the best protection for board members against shareholder lawsuits and limited protection against hostile takeovers. California, on the other hand, has more protection for minority shareholders and more unpredictable court decisions. These laws make Delaware much more favorable to larger companies and bigger investors. For companies seeking venture financing, incorporating in Delaware is recommended, as most venture capitalists will only choose to invest in a Delaware C Corporation.
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Jan 31, 2024 11:11
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CommissarMega posted:I'm not an American, so I admit I don't quite get the joke- is Delaware exceptionally business-friendly or something? It's a tiny state in the north east where it is very cheap to incorporate, so a lot of corporations are nominally based there. They are particularly friendly to big corporate interests so yeah it's pretty funny that even they're like, "nah"
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Jan 31, 2024 11:13
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https://i.imgur.com/egZlwrV.mp4
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Jan 31, 2024 11:35
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I also not american and I dont know anything about sock market or corporations or anything related so the schad is on me because I dont even understand what a "pay compensation package"is , or why tesla has to pay Musk that or why the justice got involved
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Jan 31, 2024 11:49
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neat
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Jan 31, 2024 11:51
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Elias_Maluco posted:I also not american and I dont know anything about sock market or corporations or anything related so the schad is on me because I dont even understand what a "pay compensation package"is , or why tesla has to pay Musk that or why the justice got involved I heavily invest in the sock market. At least, I assume that's where my odd socks are ending up.
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Jan 31, 2024 12:04
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cotton socks are down and bamboo socks are up
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Jan 31, 2024 12:18
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Elias_Maluco posted:I also not american and I dont know anything about sock market or corporations or anything related so the schad is on me because I dont even understand what a "pay compensation package"is , or why tesla has to pay Musk that or why the justice got involved the world is build on lies
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Jan 31, 2024 12:36
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Non Compos Mentis posted:cotton socks are down and bamboo socks are up Portfolio theory says you should just buy one of every kind of sock.
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Jan 31, 2024 12:38
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Alright, more schad because I cant spell
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Jan 31, 2024 12:47
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Elias_Maluco posted:I also not american and I dont know anything about sock market or corporations or anything related so the schad is on me because I dont even understand what a "pay compensation package"is , or why tesla has to pay Musk that or why the justice got involved Musk is (nominally, it's unclear how much work he does) the CEO of Tesla. Companies tend to pay their executives. This lawsuit was about a Tesla shareholder saying "hey, you're paying the CEO way too much compared to what he actually does, you should be giving that money to shareholders (like me) instead".
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Jan 31, 2024 13:09
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Jabor posted:Musk is (nominally, it's unclear how much work he does) the CEO of Tesla. Companies tend to pay their executives. Thank you edit: now what I dont understand is why he needed a loan to buy twitter when his salary is 56 billion edit 2: in my defense: I knew CEOs get paid, of course, I didint know it was called "compensation package" and while I do know CEOs get a lot of money, 56 billion seems unreal for a paycheck to me Elias_Maluco has a new favorite as of 16:10 on Jan 31, 2024 |
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Jan 31, 2024 13:13
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Elias_Maluco posted:Thank you he does not get 56 billion, that is exactly what the judge said does not happen.
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Jan 31, 2024 13:25
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Elias_Maluco posted:Thank you He didn’t but why spend your own money when the banks/other idiots will gladly give you theirs?
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Jan 31, 2024 13:30
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NoiseAnnoys posted:he does not get 56 billion, that is exactly what the judge said does not happen. I know but he did got something like that last year too, no?
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Jan 31, 2024 13:33
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I hope the iguana got that sandwich.
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Jan 31, 2024 13:42
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Inspector Gesicht posted:I hope the iguana got that sandwich. Iguana hope so, too.
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Jan 31, 2024 13:56
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CommissarMega posted:I'm not an American, so I admit I don't quite get the joke- is Delaware exceptionally business-friendly or something? Although it's not explicitly stated, the movie version of Fight Club is set in Wilmington, Delaware. Tyler's plan to destroy all the credit card debt is only feasible if all the credit card companies and corporate institutions are in one place, and that place is Delaware.
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Jan 31, 2024 15:16
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Mr. Nice! posted:He didn’t but why spend your own money when the banks/other idiots will gladly give you theirs? I mean, the biggest chunk of the investment package came from the Saudis and look at that, now a bunch of Enemies Of The State aren't on twitter as much telling people about their brutality. Or now the saudis are getting thousands of names from them, for reasons. The point was never to make twitter profitable.
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Jan 31, 2024 15:40
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CainFortea posted:I mean, the biggest chunk of the investment package came from the Saudis and look at that, now a bunch of Enemies Of The State aren't on twitter as much telling people about their brutality. Or now the saudis are getting thousands of names from them, for reasons. Well, $13bn came from the banks who were trying to turn a profit. You're right that the private investors only cared for personal reasons. Musk, for example, wanted an excuse to ban @elonjet.
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Jan 31, 2024 15:56
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A second sock is falling in my shoe 
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Jan 31, 2024 16:12
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Nenonen posted:Sounds like a hair raising situation! She just clipped it.
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Jan 31, 2024 16:43
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https://www.youtube.com/watch?v=aYFRfqi44go
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Jan 31, 2024 16:51
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Mr. Nice! posted:Well, $13bn came from the banks who were trying to turn a profit. You're right that the private investors only cared for personal reasons. Musk, for example, wanted an excuse to ban @elonjet. Genuinely he only bought it because he didn't realize his 420 joke about buying all Twitter stock for significantly more than the actual value of the stock was legally binding.
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Jan 31, 2024 18:12
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Baron von Eevl posted:Genuinely he only bought it because he didn't realize his 420 joke about buying all Twitter stock for significantly more than the actual value of the stock was legally binding. which is funny, because that exact same joke but about taking Tesla private got him into legal trouble before!
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Jan 31, 2024 18:22
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For those wondering what it's about: In a corporation, the shareholders vote for the board of directors. Ol' Musky, having the most shares, gets to pack the board with his friends, then as CEO he gets to negotiate with them to determine his pay. So the deck is stacked in his favor. This is not great for the other shareholders for whom their share of profit is reduced due to the pay going to the CEO. So they've sued saying that the board shouldn't be paying him so much to the detriment of their own shares.
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Jan 31, 2024 18:24
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Baron von Eevl posted:Genuinely he only bought it because he didn't realize his 420 joke about buying all Twitter stock for significantly more than the actual value of the stock was legally binding. He probably grasped, like all things he wants, that it wasn't legal to do but he couldn't fathom those things being applied to him. What is the buisiness model of high priced lawyers & lobbyists if not Premium Freedomtm?
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Jan 31, 2024 18:29
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CommissarMega posted:I'm not an American, so I admit I don't quite get the joke- is Delaware exceptionally business-friendly or something? In the US, the vast majority of corporations will be incorporated in Delaware. The main reason is for legal predictability. Since most corporations have historically been in that jurisdiction, there's detailed precedents for most situations that could come up and a extensive court system that'd good at those kinds of cases. You have a much better chance of predicting how a trial would go without actually doing the actual trial, so everybody understands their risks better A bit of it is from being pro business in business vs public cases, but those can also usually be brought in the person's home state. Most of the cases where Delaware law is more settled and predictable are things like management vs shareholders, CEO vs Board of Executives, corporation vs bank/bondholders, or corporation vs corporation contract disputes where there isn't a single clear "pro-business" side
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Jan 31, 2024 18:34
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AFAIK the reason Delaware is such a business friendly state is that they're very small in terms of both land area and population and DuPont has been based out of there for a very long time. The most powerful and influential entity in the state by a very wide margin has historically been a single company. That's not the case anymore, they employ fewer than 10,000 people in Delaware now, but historically Delaware was like a company town but an entire state.cult_hero posted:For those wondering what it's about : In a corporation, the shareholders vote for the board of directors. Ol' Musky, having the most shares, gets to pack the board with his friends, then as CEO he gets to negotiate with them to determine his pay. So the deck is stacked in his favor. This is not great for the other shareholders for whom their share of profit is reduced due to the pay going to the CEO. So they've sued saying that the board shouldn't be paying him so much to the detriment of their own shares. One of those buddies is literally his divorce lawyer.
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Jan 31, 2024 18:47
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https://i.imgur.com/IaLIPI9.mp4 https://i.imgur.com/6yWAivk.mp4 https://i.imgur.com/aBYH2tc.mp4 https://i.imgur.com/qgE3jBJ.mp4
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Jan 31, 2024 19:32
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The ludicrous amount of money that gets thrown at CEO bonuses is one thing (anyone that gets a bonus of 1mil better poo poo gold by my book), but there is supposed to be a performance aspect to it that seems to always get yeeted into space. Hasn't Elon loving up Testla's stock with his twitter escapades and become a hindrance in innovation which has allowed a lot of competition to catch up? Then you have poo poo like Bobby Kotick getting a 400 mil golden parachute after presiding over a scandal and sexual harassment-filled tenure at Blizzard. gently caress the corpos.
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Jan 31, 2024 19:40
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Rasmus posted:The ludicrous amount of money that gets thrown at CEO bonuses is one thing (anyone that gets a bonus of 1mil better poo poo gold by my book), but there is supposed to be a performance aspect to it that seems to always get yeeted into space. Hasn't Elon loving up Testla's stock with his twitter escapades and become a hindrance in innovation which has allowed a lot of competition to catch up? he's trying to rugpull. elon is a scammer.
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Jan 31, 2024 19:43
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