Then we need to seriously rewrite corporate charter law. For example, maybe it shouldn’t even be legal for corporations to own other corporations. Limited liability as a concept has some value, in terms of encouraging investment. So there is value in LLCs existing. But we don’t need the free-for-all we have now. We could move corporate governance to a white list model, where there are only a set series of structures you’re allowed to use to organize a company.
Among these are the regulations would be restrictions on the forms of compensation you’re allowed to provide high-value employees. Maybe the only legal form of pay for executives should be salary.
And again, you can enforce this by relying on the little people that the executives don’t even recognize as human. Does a CEO formally have $10 million to their name, but they have exclusive use of a $100 million mansion provided by their company? Fine, let the janitor rat him out, and in turn the janitor will end up owning that mansion.
it shouldn’t even be legal for corporations to own other corporations.
100% agree
And again, you can enforce this by relying on the little people that the executives don’t even recognize as human. Does a CEO formally have $10 million to their name, but they have exclusive use of a $100 million mansion provided by their company? Fine, let the janitor rat him out, and in turn the janitor will end up owning that mansion.
These are some forms of possible cheats, yes, but again ask the question: does it make sense? Why would anyone permit the CEO of the company where they are a shareholder to live in a 100 million dollar mansion if it won’t get you anything? That CEO won’t get you anything more than 10M. The only way it would work is that those at the top of that company would get luxury things from the company while the company itself doesn’t have the resources to survive because the limited resources went to the CEO.
In any case, this was just a single rule, feel free to add a few more :)
I do feel like we should not allow logical entities to own other logical entities. you can have a wrap something up to allow for pooling assets with individuals but it does seem like allowing multi levels like this causes all sorts of shenanigans. so yeah you can have a trust but no owning companies and if a company buys a company it becomes a combined company or the sale is not allowed.
this gets a bit complicated. Do we want most companies contracting out with other companies extensively as a matter of course. Like boeing or such. I mean with 1k I think they would just design and then you would need another that is manufacturing. I guess like we have with processors but then of course the many parts are different companies but that s the way it is now anyway.
Then we need to seriously rewrite corporate charter law. For example, maybe it shouldn’t even be legal for corporations to own other corporations. Limited liability as a concept has some value, in terms of encouraging investment. So there is value in LLCs existing. But we don’t need the free-for-all we have now. We could move corporate governance to a white list model, where there are only a set series of structures you’re allowed to use to organize a company.
Among these are the regulations would be restrictions on the forms of compensation you’re allowed to provide high-value employees. Maybe the only legal form of pay for executives should be salary.
And again, you can enforce this by relying on the little people that the executives don’t even recognize as human. Does a CEO formally have $10 million to their name, but they have exclusive use of a $100 million mansion provided by their company? Fine, let the janitor rat him out, and in turn the janitor will end up owning that mansion.
100% agree
These are some forms of possible cheats, yes, but again ask the question: does it make sense? Why would anyone permit the CEO of the company where they are a shareholder to live in a 100 million dollar mansion if it won’t get you anything? That CEO won’t get you anything more than 10M. The only way it would work is that those at the top of that company would get luxury things from the company while the company itself doesn’t have the resources to survive because the limited resources went to the CEO.
In any case, this was just a single rule, feel free to add a few more :)
Person wealth cap at 10M
Company wealth cap at 1B
Company employee cap at 1000
I do feel like we should not allow logical entities to own other logical entities. you can have a wrap something up to allow for pooling assets with individuals but it does seem like allowing multi levels like this causes all sorts of shenanigans. so yeah you can have a trust but no owning companies and if a company buys a company it becomes a combined company or the sale is not allowed.
Person wealth cap at 10M
Company wealth cap at 1B
Company employee cap at 1000
this gets a bit complicated. Do we want most companies contracting out with other companies extensively as a matter of course. Like boeing or such. I mean with 1k I think they would just design and then you would need another that is manufacturing. I guess like we have with processors but then of course the many parts are different companies but that s the way it is now anyway.