What is Delaware?

Delaware is a U.S. state whose corporate law governs many companies. The material tracks concerns about its legal framework for shareholder disputes and equity structures.

• May 2025 - Bill Gurley said that in Delaware, the likelihood of a lawsuit for a 7-times or higher return is 23 times greater than in federal court, and for 10-times or higher, it is 57 times greater.
• May 2025 - Bill Gurley stated that this is not a one-off issue but a structural problem in the state of Delaware.
• May 2026 - Eric Ries said that a Delaware C-Corp is treated as a financial instrument for investment returns, not as a living entity that creates products.
• Jul 2026 - Ryan Sean Adams quoted Mikeo as saying that dual token equity structures do not work because shareholders get Delaware law while token holders get a pinky promise, making tokens junior equity.