They’re really rushing to leave the bleakest cyberpunk distopia in the dust.
Delaware is the state where a bunch of companies are legally but not physically headquartered, ro evade state taxes and regulations.
States need to rethink their tax laws for companies: If you do business here, you pay taxes here.
My former employer was a Delaware corporation, the company still has to pay our state taxes.
According to Wikipedia: Delaware charges no income tax on corporations not operating within the state, so taking advantage of Delaware’s other benefits does not result in taxation. At the same time, Delaware has a particularly aggressive tax on banks that locate in the state. However, in general, the state is viewed as a positive location for corporate tax purposes because favorable laws of incorporation allow companies to minimize corporate expenditures.
So, yeah, I was oversimplifying.
The quote used as the title of the article isn’t accurate. The owner of the company would still be a human, so there would be a human at the helm.
I think he ment a human culpable for the actions of the company?
Which is strange since we don’t hold executives accountable in any meaningful way.
When is a human ever culpable for the actions of a company?
Anything except banking
Quick add AI to your bittorrent clients, and take deposits for your crypto/gambling exchanges!
Isn’t Delaware a famous tax haven?
Famous for hiding business owners and shielding them from legal consequences. I haven’t heard about them being a tax haven; they just have a really thick corporate veil.
Delaware is often used at a location for companies because it has a very well documented and court proven legal foundation.
It eliminates a lot of the uncertainty in running a business from a legal standpoint because most cases are already settled by someone else.
Texas is the new hotness from a tax standpoint cause it gets its money from other sources, like property tax.
My first thought was Delamain.
After investigation it was discovered the AI was designed to extract maximum profit fo the owners and hide business failings until it collapsed, leaving investors and creditors holding the debt.
The courts fined the owners $50 each.
Repeat.
Just like all the crypto, AI, and app scams these days.
Make big promises to inverstors, make a memecoin, steal all the data, pump and dump with the money and the courts don‘t do shit. Seems to be the Zoomer business model. Well, Trump‘s MAGA losers too.
The real scam was capitalism?
The scam is stupid voters not putting in politicians that look after their best interests. Any economic system can and will be twisted to funnel money upwards. In any case, if you’re American you are not experiencing capitalism. People often say oligarchy, I think plutocracy is more on point, but it ain’t capitalism.
this technology will get a lot of people killed and it will only stop when it destroys enough elite families.
The legal fiction of the corporate shield is leading our species to its doom. Profit without accountability encourages destructive behavior.
What do you mean by “corporate shield”? Are you referring to limited liability? Corporations are still accountable for the laws that they break.
I think they mean the corporate veil that is typically assumed, as in https://en.wikipedia.org/wiki/Piercing_the_corporate_veil
It provides a layer of liability protection for the personal assets of the humans behind the company when it comes to debts. But it also provides protection from criminal liability in many cases when it comes to horrible non-financial crimes.
Um, how? Corporations don’t care if they go under. They also don’t care if they commit genocide or are responsible for major industrial disasters.
What’s the better idea? Without that legal fiction, new businesses would grind to a screeching halt and the entrenched monopolies would be even more powerful, as if that isn’t the root of our economic problems already.
The answer is not letting any company grow into a monopoly. There are actual laws against that. Break up existing monopolies. Then make business owners way more accountable than they are today. I know it is hard to prove intent in fraud cases, but any sort of creative accounting, transfer of debt between companies, bonuses that aren’t in alignment with company performance, stock buybacks and other manipulations of valuation, and a myriad other obvious fraudulent behaviors should be punished with long prison time.
So, basically just like human led companies?
AI-run business could be beneficial if done for the benefit of all humanity. Instead, people are using it for personal gain at the expense of others.
We need to criminalize this type of greed so, so badly.
Dr. Guillotine would like a word…
Sounds like this will be used to break laws and avoid responsibility. Just point to the black box to avoid fines and jail. A loophole for society to decend in to lawlessness and more corruption.
If you drive drunk, that’s an offense even without causing road accidents. These people not only think this shouldn’t be so when offloading decisions to a text predictor with different patterns of mistakes, they also seem to seriously mention possibility there should be no responsibility when those mistakes happen.
Isn’t one of their towns giving votes to corporations?
Like, what the hell Delaware? Why do you keep ruining things for the rest of us?
I think the entire state now allows corporations to vote.
An AI led business is a very important building block of rogue AI finishing off humankind. How else will it secure enough unsupervisable compute?
I hate it how these people take every warning of things that could go wrong as advise for policy.
Delaware Delamain.
I can earn credits tracking rogue taxis
