Meta In Talks To Reincorporate In Texas or Another State, Exit Delaware (reuters.com) 26
According to the Wall Street Journal (paywalled), Meta is in talks to move its incorporation from Delaware to Texas or other states. Reuters reports: The social media giant has talked to Texas officials about the potential changes, WSJ said, adding that the discussions predate President Donald Trump's new administration. The paperwork change would not relocate its corporate headquarters.
A Meta spokesperson said that it does not plan on shifting its corporate headquarters out of Menlo Park, California, but declined to comment on reincorporation when contacted by Reuters. Texas is perceived by some businesses as having a more favorable legal and regulatory environment, particularly in areas such as taxation and corporate governance, which can be attractive to companies looking to cut costs and streamline operations.
A Meta spokesperson said that it does not plan on shifting its corporate headquarters out of Menlo Park, California, but declined to comment on reincorporation when contacted by Reuters. Texas is perceived by some businesses as having a more favorable legal and regulatory environment, particularly in areas such as taxation and corporate governance, which can be attractive to companies looking to cut costs and streamline operations.
Awww... (Score:5, Insightful)
Poor widdle multi-billionaires need to hang on to more billions...
Move Over Cayman Islands... (Score:4, Insightful)
Re: Move Over Cayman Islands... (Score:2)
Fuck Zuck sideways with a rusty chainsaw (Score:2)
Zuck cannot compare to Musk (Score:5, Informative)
Comment removed (Score:5, Insightful)
Re:Zuck cannot compare to Musk (Score:5, Insightful)
Comment removed (Score:5, Insightful)
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Re:Zuck cannot compare to Musk (Score:5, Interesting)
What's going on is terrifying. I'm a little hazy on the next steps but what happens after you conduct mass purges of undesirable government employees and replace them with loyalists?
Just think of the headlines and constant news scrolls if Biden had done this.
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Re: Zuck cannot compare to Musk (Score:1)
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You must be young. Or haven't woken up yet. This happens with every administration this century. Here's a forum from 2012 of people freaking out about President Obama purging undesirables from government. https://conservativecave.com/c... [conservativecave.com]
No.
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I think that Zuck saw what Bezos's trophy wife was packing at the Trump inauguration, and decided that he needs to make some life upgrades! I wonder if the divorce laws are more friendly than they are in California...
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It is just a game of follow the leader.
Zuck is doing this to show that he is just like Musk. With the same goals and difficulties. So he can join the club and be one of the "in crowd" on the right side of the new regime. "You are either with us or against us" -and he wants to be with them.
Re: (Score:2)
I do not know why that post is modded negative, but the fact is that many companies are making that choise.
In case anyone is intrestested Lois Rossman (of the right to repair fame) did a lot of videos on the topic of how New York treated his company: https://www.youtube.com/playli... [youtube.com]
Re:Some consequences take time to play out (Score:5, Informative)
Judges in Delaware decided they had some unique and superior insight into how much money Tesla should pay Elon to be the CEO. They overrode the board of directors of the company, and refused to self-correct at the appeals level. The derangement, it seems, knows no ends, no matter how much damage this will eventually do to the tiny state.
From your link:
Legal authorities generally suggest that McCormick’s ruling was sound and followed the law. Charles Elson, founding director of the Weinberg Center for Corporate Governance at the University of Delaware, said that in his view, McCormick was right to rule that after Tesla lost its case in the original trial, it created improper new evidence by asking shareholders to ratify the pay package a second time.
In response, Tesla moved its incorporation from Delaware to Texas. Zuck clearly has come to realize that some judge in Delaware could arbitrarily cut HIS compensation package at any moment, and retro-actively to boot. No executive with a large compensation package will want to take that risk. Other companies are following suit in leaving, now that the precedent has been set that the courts of Delaware might arbitrarily chop the pay of any corporate executives THEY decide to cut. The state's judges have single-handedly changed the state to a business-hostile state. As companies eventually move out, they will contribute less and less to the state's economy and the local taxpayers will end up seeing THEIR taxes rise to compensate.
See above.
Dumb Move Stupid Fuck Zuck (Score:2)
Texans hate thieves. You're likely to get your ass shot, as well as your employees, when you move there.
And we have precedent for that, there.
You don't even have to pay bribes in Texas (Score:2)
He personally booted the FAA head because he was held accountable when his rockets went boom. Relocating to MAGA-land Texas will save him effort in completely ignoring local regulation in the future. Since he likes to "break things" why no go to a place where where he can get away with anything?
Maybe it's time to start a betting pool
IP rights, not taxes (Score:3)
Texas is very pro-corporation when it comes to IP rights, particularly patents and trademarks within its courts. There's a reason most patent trolls file in Texas.
META/Zuck is probably setting up to get the courts to reconsider whether or not gen-AI results can be copyright protected.