Delaware
Index Ventures partner: Why Europe needs a Delaware | Fortune
In 1913, a tiny American state made a calculated bet that would reshape the global economy.
When New Jersey suddenly came down hard on business, neighbouring Delaware decided to rewrite its rulebook to scoop up companies fleeing the state. It created a simple registration system, stripped away corporate bureaucracy, and invited the nation’s companies to call it home. Hoping to attract steam engines and gunpowder manufacturers, Delaware’s leaders could scarcely have imagined that, a century later, the ‘Delaware Inc’ model would serve as the foundation for smartphones, search engines and electric cars. In other words, it would become the corporate vehicle that underpinned the world’s most valuable and transformative businesses.
Europe needs its own Delaware. While the continent has shown itself more than capable of producing extraordinary entrepreneurs and breakout global companies like Adyen, Spotify and Revolut, its founders must still overcome huge barriers to scaling compared with the U.S. The numbers tell a sobering story, as MIT’s principal research scientist Andrew McAfee has pointed out. Publicly traded companies started from scratch in Europe in the past 50 years are collectively valued at around $420 billion, while their U.S. counterparts approach $30 trillion – almost 70 times as much. All six U.S. companies with a market cap over $1 trillion have been set up in the past half century; not a single EU equivalent has.
This chasm exposes the fragmentation that’s holding back European innovation. A startup with a Delaware Inc. can raise capital and expand from coast to coast across the US without breaking its stride. Investors know the structure. Deals and hiring happen fast, and the company’s momentum compounds. Meanwhile, a founder scaling across Europe must incorporate separate entities in each country, untangle regulatory and employment codes in multiple languages and markets, and explain to engineers in Munich why their stock options are treated differently to their colleagues’ in Madrid.
The European single market doesn’t extend to startups
The reality is that when it comes to startups, there is no European single market, only 27 different countries. The consequences are stark: stifled momentum, unrealized potential, and an artificial limit on startups’ chances of success. A year ago, Mario Draghi, former Italian Prime Minister and President of the European Central Bank, published a landmark report that sounded the alarm on EU competitiveness and called for an additional €800 billion per year in investment. Draghi noted that Europe captures just 5% of global venture capital funds, while the US commands 52%. This means VC investment in the EU is just 0.05% of GDP, nearly six times lower than in the US at 0.32%. More than 60% of European companies cite regulation as an obstacle to investment, and most see it as their biggest challenge overall.
This is a crisis for Europe unfolding in real time. The continent that invented and spun out the internet from its first-class research institutions now risks standing by as US founders scale with ease.
But there’s a way forward and close the gap. Momentum is building behind the idea of ‘EU–INC’ – not a carbon copy of the Delaware model, but a fresh, pan-European corporate entity that will set a new global standard for business formation. If EU Inc is realized, it will allow founders to launch, raise capital, hire and grow seamlessly across Europe. A founder in Stockholm could incorporate in minutes, access standardized investment documents recognized from Berlin to Barcelona, implement EU-wide employee stock options, and scale across 450 million consumers.
The grassroots movement behind EU–INC has garnered over 18,000 signatories and support from Europe’s most successful entrepreneurs and investors, including leaders from Mistral, DeepMind, Stripe, Supercell, Index Ventures and Y Combinator. The major EU decisionmaking institutions have expressed approval, and EU Commission President Ursula von der Leyen has committed to reform.
The bad news is that there are already murmurs in Brussels about piecemeal, incremental measures – harmonizing certain national laws, creating yet another framework for EU member states to fuss over and interpret. This is folly. The problem of fragmentation must be fixed at the heart of Europe. Half measures will not solve founders’ problems, nor will they create the competitive advantage that Europe so desperately needs.
Delaware’s 1913 gamble helped spark a century of American dynamism. Creating an EU–INC could make Europe the undisputed seedbed of innovation – the best place in the world to found, fund and scale a company. Europe doesn’t need another directive or committee. It needs its Delaware, and it needs it now.
More information is available at eu-inc.org.
The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs of Fortune.
Delaware
Snake-infested lakes and ponds in Delaware. What to know before you go
Slithery intruder makes appearance on beach
A huge snake was spotted making its way across the beach in Ocean City, Maryland. Luckily, the reptile was not venomous.
It could be one of your worst nightmares.
You’re enjoying a summer day in the water when you feel something brush past your leg. You turn, and there’s a snake.
While the chances of that scenario playing out are highly unlikely, there is a good chance the waters you enjoy playing in are also inhabited by snakes.
The danger level might not be as high as Florida’s, but it’s still something to be aware of when you go into the outdoors.
Here’s a look at the snake-infested lakes and ponds in Delaware, according to worldatlas.com.
Nanticoke River
The Nanticoke River runs 64 miles from southern Delaware to the Chesapeake Bay, winding through marshlands, forests, and farmland along the way. The habitat is perfect for the Northern watersnake. The snakes are nonvenomous, but they will defensively strike if you corner them or try to hold them.
The Brandywine
This is where you need to be very careful. The Eastern copperhead is a confirmed and documented presence, and a small group exists at Alapocas Run State Park along the water near Wilmington. The snakes won’t chase you, but if you step too close or don’t see them, they will strike. You should watch your step near log piles and rocky outcrops.
Millsboro Pond
Millsboro Pond is the home to perch, black crappie and frogs, which is the perfect food for snakes including northern water snakes, plain-bellied water snakes, queen snakes and common ribbon snakes.
The Eastern copperhead lives in southern Sussex County, which includes the pond. However, sightings are rare. It’s something to watch out for when you are at the pond.
Lums Pond
The pond, located in Lums Pond State Park, has numerous varieties of snakes. However, the inlets and small islands are perfect for northern water snakes to bask in the sun. The snakes thrive on fish and amphibians and benefit from the surrounding forest and wetlands.
One snake to watch for is the ringneck snake. It has a mild venom and its teeth have trouble puncturing human skin, but for those with venom allergies, you should treat it like any other venomous species.
Trap Pond
Trap Pond, located in Trap Pond State Park, is noted for its cypress swamp. The bald cypress trees and the tree’s root structure provide a great hiding place and basking spot for eastern garter snakes and northern water snakes.
Silver Lake
Located in Dover, Silver Lake is lined with trees and vegetation, making it a great place for snakes. The northern water snake is seen here, but eastern kingsnakes are also occasionally seen in the wooded areas of the lake.
Garrison Lake
Garrison Lake is a popular spot in Kent County for fishing and boating. The marshy areas and dense vegetation are perfect habitats for northern water snakes, eastern garter snakes and eastern rat snakes. The wetlands are attractive to snakes due to the abundance of prey and the availability of cover.
Red Mills Pond
Red Mills Pond, located near Lewes, has a rich biodiversity supporting numerous amphibians and small mammals, which attract snakes. Among the snakes you may see in and around the pond are the northern water snake, eastern ribbon snake and eastern ribbon snake.
Delaware
Delaware Online wins investigative reporting prize, 17 other awards
Del lawmakers discuss bill requiring teachers work with valid licenses
The bill is a response to revelations a school therapist fabricated his credentials before he was charged with sexual abuse of a child.
Delaware Online/The News Journal won the A-Mark Prize for Investigative Journalism for its reporting revealing hundreds of invalid teacher licenses in Delaware.
The work by reporters Kelly Powers and Esteban Parra led to lawmakers proposing a bill that would tighten licensing requirements for public school employees and penalize districts that retain unlicensed staff.
The judges cited the work for “meticulous and thorough reporting” and “a fair and balanced presentation of the situation.”
The A‑Mark prize honors excellence in watchdog and accountability reporting. It is backed by The A‑Mark Foundation, a nonpartisan nonprofit supporting investigative and unbiased social‑issue journalism, in partnership with the Maryland‑Delaware‑DC Press Association.
“The reporting from Kelly Powers and Esteban Parra reflects the very best of investigative journalism in Delaware – thorough, fair and impactful,’’ said Mike Feeley, executive editor of The News Journal and Delaware Online. “We are proud to see their work awarded with the inaugural A-Mark Prize in a highly competitive field.
“I congratulate all of Delaware Online’s award winners in this year’s MDDC Awards for their commitment to journalism that strengthens our communities,’’ Feeley said.
Delaware Online/The News Journal won a total of 18 awards May 8 at the MDDC Press Association’s annual conference.
The MDDC Awards recognizes news publications from Maryland, Delaware and the District of Columbia. For each category, a first- and second-place winner is chosen based on circulation divisions. A part of the largest-circulation division, Delaware Online/The News Journal competes against news sites like the Baltimore Sun, Baltimore Banner and Washington Post.
Here is the list of winners, with links to the stories that took home the prizes.
Best of Show
- News-Driven Art or Illustration: Luis Solano, “American’s deadliest habit”
First Place
Second Place
- Feature Story: Non-Profile: Xerxes Wilson, “Why this Delaware prison is making tattooing part of its educational programming”
- Sports Feature Story: Brandon Holveck, Martin Frank, “Eagles’ Saquon Barkley’s historic season built on selflessness, generational athleticism”
- Local Column: Critical Thinking: Xerxes Wilson, “Broken bones, brick walls and searching for accountability”
- Sports Photo (Feature): Benjamin Chambers, “Delaware wins 61-31 against UTEP in Conference USA regular season finale”
- Public Service Reporting: Krys’tal Griffin, “While these Delaware riders depend on Paratransit, the service still lags post-pandemic”
- Breaking News: The News Journal staff, “Delaware State trooper killed by shooter prevented other deaths, state officials say”
- News Page Design: Luis Solano, “American’s deadliest habit”
- Page 1 Design: Stephanie Lindholm, “Musical haven in Delaware”
- Continuing Reporting: Kelly Powers, Shane Brennan, “Your property taxes are changing. What Delaware homeowners should know about new laws”
- General Website Excellence, The News Journal
Delaware
Lawsuit says Delaware prisoners forced to ‘marinate’ in pepper spray
What to know about jury duty in Delaware
Here are some tips and information about what to do when you receive a jury summons in the mail in Delaware.
A lawsuit seeking to represent all people locked up by Delaware claims that prisoners are routinely left to “marinate” in a high-concentration pepper spray.
The lawsuit filed May 7 in Delaware Court of Chancery seeks an injunction barring correction officials from using the spray until leaders enforce rules the lawsuit says require staff to decontaminate prisoners after they are targeted.
In interviews, state prisoners have frequently described officers’ use of so-called OC spray, a more concentrated form of pepper spray only available to law enforcement, as cruel. Prisoners say the spray is deployed unnecessarily, recklessly, frequently and causes intense burning on the skin and through the respiratory system.
“Imagine taking a glass bottle, smashing it up and grinding it up and snorting that up your nose, then times that by 1,000,” said a former prisoner, William Davis, describing being sprayed during a previous interview about a similar use‑of‑force lawsuit involving Sussex Correctional Institution. “I felt it burn for days.”
Records obtained through a Freedom of Information Act request show OC spray — short for oleoresin capsicum — is used hundreds of times a year and is a frequent issue in Delaware prison lawsuits. The new ACLU lawsuit seeks class-action status on behalf of all Delaware prisoners and focuses on what happens after someone is sprayed.
The lawsuit claims officers routinely ignore training, policy and clear health risks by failing to properly flush and clean people after using OC spray. It argues the practice violates Delaware’s constitutional ban on “cruel” punishment.
Prisoners allege they were sprayed while handcuffed, naked or already subdued, including one who said officers sprayed him through his cell door while he was locked inside, and another who said he was forced during a strip search to touch his genitals and then his mouth after being sprayed.
In each of these episodes, the lawsuit states that prisoners were not properly decontaminated, some were left unattended, returned to a contaminated cell, left in clothes drenched in spray and some were not allowed to shower for a day or more after.
“Refusing to decontaminate prisoners is cruel because it subjects them to hours of needless suffering. Prolonged exposure is also potentially deadly,” the lawsuit states.
Delaware Department of Correction officials did not respond to requests for comment.
The allegations of the lawsuit are built partially on declarations from eight named plaintiffs in Delaware prisons. Additionally, it leans on video and deposition evidence from two other excessive force cases the ACLU is litigating on behalf of Delaware prisoners.
In those other cases, several officers have testified in depositions that they had not decontaminated individuals they sprayed and were unaware if others had, the new lawsuit states.
The lawsuit also cites Department of Correction training materials turned over in other lawsuits. Policy and training documents outline that OC spray is only to be used when no reasonable alternative is available, not as retaliation or punishment and in short bursts from a safe distance.
A training presentation describes the health risks of OC spray and says sprayed individuals should be moved to fresh air, assessed for medical conditions and repeatedly flushed and wiped to decontaminate them.
It notes that people who have been sprayed must be monitored. It underscores these instructions with a red skull and crossbones.
Other litigation: New lawsuit claims excessive force used by Delaware officers during September prison raids
In interviews, prisoners have reported that officers would “empty the can” in long bursts directed closely at their face. The named plaintiffs in the new lawsuit include asthmatic individuals who said they were denied their inhaler after being sprayed.
Besides pain, OC spray can cause difficulty breathing, gagging, heart distress and blindness. It can also induce a feeling of suffocation and helplessness, according to a department training presentation. Failure to decontaminate can cause blindness, respiratory failure and skin conditions, the lawsuit states.
If sprayed too close, the OC molecules can cause what’s known as “hydraulic needling of the eyes” where the spray causes lacerations, the complaint states, noting that multiple prisoners in other states have died after being sprayed.
The lawsuit also claims that officers deploy OC spray in numerous ways, which include a grenade, fogger, spray, muzzle blast rounds, as well as pepper balls fired from a weapon similar to a paintball gun.
One of the named plaintiffs was shot numerous times by a pepper ball gun, rupturing the globe of his right eye. A separate lawsuit filed on behalf of that prisoner was dismissed because he didn’t address written complaints about the episode through prescribed channels inside the prison.
Rather than seeking damages for federal constitutional violations, the lawsuit asks only for an injunction forcing changes to decontamination practices. And instead of following the typical federal-court path for prisoner-rights cases, it was filed in Delaware’s Court of Chancery — the state’s business court, where cases tend to move more quickly.
It names Department of Correction Commissioner Terra Taylor as its lone defendant, claiming that the department has knowingly failed to follow its own policy regarding the spray’s use.
It also cites a deposition given by Taylor in other litigation in which she states there is no specific process for decontaminating those targeted with OC, that she hasn’t taken any steps to require officers to do so, and that she doesn’t believe there is an obligation to do so.
Contact Xerxes Wilson at (302) 324-2787 or xwilson@delawareonline.com.
-
Virginia3 minutes agoPHOTOS: Virginia Beach Police investigate firearm-related incident at Carriage House Apartments
-
Washington9 minutes ago18-year-old dies after shooting in Tenleytown
-
Wisconsin15 minutes agoWisconsin multi-county police chase, 2 people from Illinois arrested
-
West Virginia21 minutes agowvnews.com | WVNews | Trusted West Virginia News, Sports & Local Coverage
-
Wyoming27 minutes ago(LETTERS) Sun Bucks and Wyoming GOP endorsement
-
Crypto33 minutes agoLagarde Blocks Euro Stablecoin Push, Calls $300B Market a Stability Risk for ECB Policy
-
Finance39 minutes agoBofA revises Harley-Davidson stock price after latest announcement
-
Fitness45 minutes agoStrategic Exercise Techniques to Maximize Mood Elevation – The Boca Raton Tribune