this post was submitted on 17 Oct 2024
837 points (97.9% liked)
Technology
59148 readers
3105 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
It’s easy to support when Elon is the recipient, but is this a good precedent to set?
Unironically, yes. You shouldn't be able to shield your actions under a different corporate umbrella.
"Oh, guess we can't fine them much because Twitter is a money pit, so they'll get to continue breaking the law for cheap"
Nah, make the fine off of his entire net worth, make him cash in some of that stock so he can finally pay taxes and fines. Make it hurt enough for him to consider not breaking the laws of countries he wants to do business in.
Sounds good in principle, but isn't the one of the main purposes of creating an LLC or Corporation to shield your personal assets from the company's finances? Everyone cheers for these policies until you're the one they're coming for. I hope you're as cheerful when the government wipes your personal bank account as consequence of your company's affairs.
It is but it is not written in stone for all eternity. If people are abusing this law, like Musk, then it gets amended or rewritten.
I agree. They can try to change the laws, and if the majority of those with voting powers agree on a way to handle these cases while doing more good than harm, I’m sure few would complain.
But it can't be retroactive. If you change the nature of legal protection, that should only impact actions going forward. Ex post facto laws are illegal in the US, as they should be in any country where the rule of law is to be taken seriously.
Poor comprehension of the law. LLC in the vast majority of the western world means limited liability, not absolute immunity. Owners are 100% responsible for the actions of their companies, but their liability is limited when other members of the company act without their knowledge or in bad faith, or damages are unintentional. If the damage was intentional and the actions were sanctioned and approved by ownership or leadership they are absolutely liable for the legal repercussions. Liability is limited also for multiple owners, a hedge fund cannot be held responsible for the action of a company they only own 5% of and has an indirect influence on the actions of leadership. The really important element here is that Musk is being identified as acting as primary agent, not just Twitter, and using assets and resources from his other companies. Thus, it's not Twitter acting, it's Musk who is acting, and then fines can be on all of his capital holdings, not just Twitter. This nuance of law is exactly according to the laws in place in the EU.