About this episode
Until recently, Delaware was almost universally agreed to be the best place for companies to incorporate. Now, with Elon Musk leading a corporate stampede out of the First State, we revisit an episode from 2023 that asked if Delaware’s “franchise” is wildly corrupt, wildly efficient … or both? SOURCES: John Cassara , retired Special Agent detailee to the U.S. Department of Treasury’s Office of Terrorism Finance and Financial Intelligence. Doneene Damon , director with Richards, Layton, and Finger. Travis Laster , Vice Chancellor of the Delaware Court of Chancery. Dan Nielson , professor of government at the University of Texas. Hal Weitzman , professor of behavioral science, editor-in-chief of Chicago Booth Review, and executive director for intellectual capital at the University of Chicago's Booth School of Business. RESOURCES: “ A Silicon Valley Giant Calls for a Delaware Exodus ,” by Andrew Ross Sorkin, Bernhard Warner, Sarah Kessler, Michael J. de la Merced, and Danielle Kaye ( New York Times, 2025). " Financial Secrecy Index ," by Tax Justice Network (2025). " Annual Report Statistics ," by Delaware Division of Corporations (2023). What’s the Matter with Delaware? How the First State Has Favored the Rich, Powerful, and Criminal — and How It Costs Us All , by Hal Weitzman (2022). Global Shell Games: Experiments in Transnational Relations, Crime, and Terrorism , by Michael G. Findley, Daniel L. Nielson, and J. C. Sharman (2014). " The FATF Recommendations ," by the Financial Action Task Force (2012). EXTRAS: " Will the Democrats 'Make America Great Again'? " by Freakonomics Radio (2023). Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.