prior probability

Yes, why not? Stupid bastards!!! Check out Matthew Walther’s review of last night’s presidential debate. I missed the debate (#YankeesIndians), but according to Mr Walther, one of the candidates even said, “Stupid bastard.” (Which one!?) Here is just one excerpt from Walther’s excellent essay: “It was like witnessing an argument about an arcane procedural rule during a senior bingo night at a nursing home in purgatory.” Updated (10/1) with Remy’s excellent rap version of the first “presidential” debate.

In honor of Oktoberfest, which actually begins in September(!), check out this cool color-coded map of Germany’s most popular beers by region. (Hat tip: u/tifa365, via Reddit.)

In his classic book The Common Law, the father of legal realism Oliver Wendell Holmes, Jr. famously said, “The life of the law has not been logic; it has been experience.” In summary, the Common Law refers to a body of judge-made rules, doctrines, and legal principles. Among other things, this vast and complex body of rules, doctrines, and principles comprises three important areas of private law that are especially relevant to business firms, including Torts, Contracts, and Property. The Law of Contracts, for example, defines which promises are legally-enforceable, and the Law of Torts imposes various legal duties on individuals and firms, while the Law of Property establishes what rights owners have and how ownership rights can be created in the first place. Module 3 is thus devoted to these great areas of our Common Law, and for the benefit of my fall business law students, below are links to several short blog posts describing the contents of Module 3 of our legal and ethical environment of business course:

1. Introduction: Overview of the Common Law
2. Property: The Case of the Saucy Intruder
3. Contracts: Pepsi versus Joe Exotic
4. Torts: Tiger King and Cattle Trespass
5. Bonus Section on Illegal and Immoral Agreements: Illicit Promises of the Rich & Famous

And now, back to our regularly-scheduled blogging …

If so, then why hasn’t the IRS prosecuted Trump for tax fraud yet? There are two possible reasons. One is that the line between tax evasion (illegal, if you get caught) and tax avoidance (generally legal) is not always clear. The other is the six-year statute of limitations, which protects big-time tax evaders/avoiders like Trump. (More here, via Irina Ivanova at CBS Money Watch.) Or, in the alternative, is our complicated and convoluted tax code to blame for this eggregious state of affairs? Either way, here is a thread on the legality of Trump’s crude tax avoidance strategies.

This song is about a lost love, but for me, I always think of the Caribbean island of Cuba, the magical archipelago of my ancestors, whenever I listen to this beautiful song because my long lost love is Cuba.

Corporate Governance with Bayesian Voting: The Case of Facebook’s New Supreme Court

F. E. Guerra-Pujol, University of Central Florida

Mark Zuckerberg recently established an ostensibly-independent Oversight Board or private court (“the Facebook Supreme Court”) with the power to review some of Facebook’s content moderation decisions. 

But as the old saying goes, the devil is in the details. 

Without going into all the background history and procedural details of this new private court (due to my time limit), I just want to say up front that I think this is a really cool and exciting idea.

But to stay within my time limit, I will review the following five aspects of this private court (and five potential blind spots) in the remainder of my talk: 

A. JURISDICTION

B. CASE SELECTION COMMITTEE

C. DISCOVERY 

D. REMOVAL OF MEMBERS (BOARD INDEPENDENCE)

E. CHANGING THE RULES (AMENDMENT PROCESS) 

Ok, let’s go …

Today (Sept. 26) is National Love Note Day! Or was it yesterday? Either way, this is for you.