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Comment Google is suffering from success (Score 1, Interesting) 155

Google have the same problem as Microsoft: they're too successful. They have a river of cash flowing through the front door and an allergy to paying dividends to shareholders.

Thus they're pursuing what I call the "spaghetti cannon strategy". They blast buckets of spaghetti up against the wall and hope that some of it will stick.

Eventually any such company becomes large enough that it cannot coordinate what the various bits and pieces are doing. The self-cannabalising overlap of Android and ChromeOS is a symptom of the spaghetti cannon working overtime.

Because god forbid you send any of the profits to the people who paid money to own part of a wildly profitable company.

Comment Re:Key legal obstacle (Score 1) 375

I'm not an American lawyer so I can't be sure, but in general the common law works similarly in most countries on civil matters like contracts, trusts, equity and the like. In particular, in equity (and trusts are a major subfield of equity) the law is not applied rigidly. In equity Judges are compelled to act on goals of fairness, not on precise rules per se.

Comment Re:Key legal obstacle (Score 3, Informative) 375

The rule against perpetuities arose out of the history of "Uses", which is an older form of trusts. Landlords would deed land to lawyers or friends "with such and such portion for the use of my eldest son Harold, such and such to the use of Edward" and so on.

There was no way to break these, and so over the course of centuries, the land holdings would become impossibly and uneconomically fragmented. Even if circumstances had radically changed, it could mean that the wishes of your great-great-great-grandfather was basically making you destitute.

Basically that's how the rule against perpetuities came about. Remember, that while a corporation has an indefinite lifetime, it is definitely *alive*. It reacts dynamically to changing circumstances. It continues to exchange title to goods, purchase or provide services etc. Companies "die" during windups or bankruptcies.

Imagine if companies that went bankrupt in 1650 had perpetual trusts on their assets. Whole parts of the world would be unusable because they were "only" to be used for growing cotton or whathaveyou. That's the kind of situation the old "uses" led to.

Comment Re:Key legal obstacle (Score 1) 375

It's based on the person identified by the title, not the title itself. So if I used that form today, it would mean Charles, son of Elizabeth the Second, regardless of when he ascended to be King.

I know that as geeks we give lawyers a lot of putdowns for being dicks, but the "equity" branch of law is sensible. And nobody hates people trying to game the system more than a judge.

Comment Re:Key legal obstacle (Score 1) 375

"To me transferring wealth is not the issue. This can most likely be done through some sort of managed corporation (for instance, create and well-capitalize a corporation who's sole task to is to support your frozen ass. That is the stated purpose of the corporation within its charter. Assign a bank as director of the corp. etc)."

That would be unlikely to work, IMO. Remember, trusts come from the *facts* of a situation, not merely from documents. A court could look at this scheme, reasonably conclude that it's a trust (someone holding common-law legal title to something with future-you as the beneficiary) and apply the rule against perpetuities. It's not as though people haven't tried for centuries to break that rule and failed.

" Being technically dead, any contract you had has long since ended and is unenforceable."

Which is another reason why the law of trusts would apply, not the law of contracts. But there would still be difficulty in assigning yourself as beneficiary post-death. You could make it a class trust (ie, "For the benefit of persons having this particular DNA ..." or "For the benefit of persons knowing this 16 digit password"), but that would probably get shot down as too general, or perhaps, too obviously specific.

Trusts are hard to game because they spring from equity, and equity is not a rigid system of logic like a computer program. It is specifically flexible and based on judicial discretion to slap down people who try to game the common law.

Comment Key legal obstacle (Score 5, Interesting) 375

Before coming to my senses, I used to be a law student. Trusts, including estates, was probably my favourite subject. The main vehicle for transmitting wealth between generations is trusts, because they are reliable and well-understood.

However, in Australia, and other common-law countries such as the UK, Canada and the USA, trusts have a limited life-time. The basic principle is that the dead cannot rule the living. It's called the "rule against perpetuities". If trusts could last forever, more and more of the world's resources would be tied up in trusts with narrow aims and the eventually all the world would be divided between trustees and beneficiaries. So goes the argument, anyhow (this is different from conditional gifts and foundations, by the way, before you start yammering about scholarships and charitable organisations).

The lifetime of a trust is specified at its creation. In the old days you could make it $DEATH_DATE_OF_SOMEONE + 21 years. So you'd have stuff like "For the life of the Prince of Wales and 21 years", the theory being that it's easy to know when the Prince of Wales carks it. More recently, most jurisdictions have introduced legislation allowing an optional ability to simply fix some time period, usually up to 80 years.

And that's the problem. If you go into cryo-storage for 81 years, then on awakening you may find that your trust was dissolved and the benefits distributed to your descendants. And until it's proved that you can really come back from death via cryogenic storage, I'd be amazed if the courts changed their stance. Because too many people would try to break the rule against perpetuities by being "frozen".

Of course, IANAL, this isn't legal advice, YMMV yadda yadda.

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