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A comment on 30% of YC companies exposed through SVB can’t make payroll in the next 30 days. Parent comment

Re:30% of YC companies exposed through SVB can’t make payrol... by eddsh1994 on Friday March 10, 2023 @04:55PM (#35101697)
Well an amendment in 2017 to the General Corporation Law of the State of Delaware added Section 115 which explicitly permits Delaware startups to adopt in its certificate of incorporation a requirement that all internal corporate claims are exclusively held in front of a Judge in Delaware. Several cases in California have upheld this. So it's not exactly a crazy question to ask if this would work for YC startups employees.
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Re:30% of YC companies exposed through SVB can’t make payrol... by dragonwriter on Friday March 10, 2023 @05:08PM (#35101882)
Internal corporate claims are claims by the corporation against officers and shareholders with regard to their duties to the corporation.

It does not apply to claims by employees against the corporation under foreign state wage and hour laws, nor could it.

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Re:30% of YC companies exposed through SVB can’t make payrol... by eddsh1994 on Friday March 10, 2023 @05:19PM (#35101999)
Thanks!
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