Bite-Sized Business Law

• The Index Revolution: How One Heretical Idea Changed Investing Forever

  Index funds may seem like a no-brainer today, but they were once dismissed as boring and even reckless. In this episode of Bite-Sized Business Law, host Amy Martella is joined by Robin Wigglesworth, global financial correspondent for the Financial Times, where he serves as the editor of Alphaville, and author of Trillions, to trace the unlikely rise of passive investing and what its future holds. Robin recounts how renegade academics and innovators built the first index funds, challenged Wall Street orthodoxy, and sparked a quiet revolution that democratized investing. He brings to life colorful characters like Jack Bogle and Mac McQuown, whose stubborn determination made indexing mainstream. The conversation then turns to today’s challenges, from the explosion of ETFs to the concentration of corporate power among the “Big Three” asset managers. Robin also shares his views on ESG, shareholder activism, and the risks of over-financialization. He offers a preview of his upcoming book, The Greatest Show on Earth, which explores the overlooked but powerful history of the bond market. Listen in for a fascinating journey through the past, present, and future of investing!Key Points From This Episode:Some background on Robin and how he became a financial reporter.Why he wrote Trillions and how index funds became “the water” of investing.The first index funds and the academics who proved that active managers underperform.How figures like Mac McQuown and Jack Bogle made indexing mainstream.The role of Boston, Chicago, and San Francisco in the indexing story.Personal reflections on Jack Bogle: his drive, and his complicated legacy.Today’s indexing challenges: ETF proliferation and the blurred line between active and passive.Concerns about power concentration among Vanguard, BlackRock, and State Street.The debate over ESG, shareholder activism, and symbolic divestment.Why index funds still beat most active managers in the long run.Human nature and why many investors still choose active management.An overview of Warren Buffett and his lasting legacy.Robin’s thoughts on AI, systematic strategies, and the future of markets.A sneak peek at Robin’s next book, The Greatest Show on Earth, on the 1,000-year history of the bond market.Links Mentioned in Today’s Episode:Robin WigglesworthRobin Wigglesworth on LinkedInTrillionsThe Greatest Show on EarthFinancial Times | AlphavilleFordham University School of Law Corporate Law Center

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• Trillion Dollar Man

  If you thought $56 billion was a big payday for Elon Musk, you won’t believe the new proposal: $1 trillion. What does that type of incentive package even look like and how will shareholders and the public react to the largest CEO payday in history? Ann Lipton, Laurence W. DeMuth Chair of Business Law at the University of Colorado Law School, breaks down Tesla’s unprecedented $1 trillion pay package, starting with the backstory of Musk’s 2018 $56 billion compensation plan, the Delaware litigation that rescinded it, and the board’s recent move to grant him 96 million shares as a hedge against losing on appeal. We then turn to the new $1 trillion incentive plan, which ties Musk’s payout to ambitious milestones, from doubling Tesla’s market cap to delivering 20 million vehicles, selling millions of robotaxis, and expanding full self-driving subscriptions. We explore shareholder approval dynamics, board independence questions, and why the plan is designed to guarantee Musk 25% voting power. Learn how this landmark deal could transform Tesla and set new precedents for executive pay across all American corporations.Key Points From This Episode:Musk’s 2018 $56B compensation plan, why it was struck down in Delaware, and where it currently stands.The board’s decision to grant Musk 96 million shares in case he loses the Delaware Supreme Court appeal.How Texas law makes shareholder lawsuits against Tesla nearly impossible.Tesla’s new $1 trillion, 10-year incentive plan and the milestones tied to Musk’s payout.Why reaching milestones early matters for Musk, as early wins allow shares to vest sooner.The plan’s lack of requirements for Musk’s time commitment, despite his other ventures.How the board is using financial incentives to keep Musk focused on Tesla.Why shareholder approval is expected to pass and how it could give Musk 25% voting power.Questions raised about board independence and the special committee’s role.The consequences of Tesla’s reliance on Musk’s vision to sustain its market value.Key financial and tax advantages for Tesla if they win in Delaware.Details of the Delaware Supreme Court oral arguments scheduled for October via livestream.Links Mentioned in Today’s Episode:Ann LiptonAnn Lipton on LinkedInAnn Lipton on BlueskyAnn Lipton BlogShareholder Primacy PodcastDelaware Judicial Courts | Live StreamFordham University School of Law Corporate Law Center

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• Whistleblowing Protection 15 Years after Dodd-Frank

  It’s been 15 years since the Dodd-Frank Act reshaped financial regulation in the aftermath of the 2008 financial crisis. Among its most impactful legacies are its whistleblower protections.  Joining us to explore this topic is Dave Jochnowitz, a Partner at Outten & Golden and the Co-Chair of the firm’s Whistleblower and Retaliation Practice group. He is a frequent writer, speaker, and contributor to the Whistleblower community. During this conversation, we trace the evolution of whistleblower laws from early protections to the False Claims Act, the Dodd-Frank SCC Whistleblower program, and examine how legal safeguards have expanded and been challenged over time. We also discuss what the future may hold for whistleblowers under this administration’s shifting political priorities. Join us as we dissect the history, current realities, and future of whistleblowing and retaliation, with a focus on how those who speak up continue to be protected.Key Points From This Episode:An introduction to how the Dodd-Frank Act reshaped financial regulation and its enduring legacies.Partner at Outten & Golden, Dave Jochnowitz, speaks to his history with the whistleblower community. Where whistleblowing deviates from employment law.The industries where whistleblowing is most prevalent.Whistleblowing and whistleblower protection history in the United States and beyond.How the SEC Whistleblower program took a different approach and why this was beneficial.Legal requirements for tips. Why there is omnipartisan support for whistleblowing.Thoughts on DOJ lawyer Erez Reuveni’s misconduct.The difference between whistleblowing and promoting a culture of suspicion. How the District Court distinguishes between when the government intervenes and when it does not. Whistleblowing and retaliation in the age of AI. Links Mentioned in Today’s Episode:Dave Jochnowitz on LinkedInOutten & Golden on LinkedInOutten & GoldenFordham University School of Law Corporate Law Center

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• The Profit Problem: An Open Letter to OpenAI

  Should profit be part of the calculation in developing safe AI? The future of artificial general intelligence (“AGI”) hinges on how well we balance innovation with safety. In this episode, Tyler Whitmer, founder, president, and CEO of Legal Advocates for Safe Science and Technology (LASST), talks about his work to protect OpenAI’s original mission to ensure AGI is safe and benefits all of humanity. Drawing on his background as a commercial litigator and nonprofit leader, Tyler explains why OpenAI’s unique corporate structure was designed to safeguard against profit motives and how a proposed restructuring could weaken those protections. He outlines the legal and ethical risks of shifting control away from the nonprofit, the coalition effort that led to an open letter to California and Delaware attorneys general, and what changes are still needed to keep mission ahead of money. The conversation also explores broader concerns about the democratization of harmful technologies, the role of legal advocacy in tech safety, and advice for lawyers who want to work in this critical space. Listen in for a timely look at the intersection between law, technology, and the public interest!Key Points From This Episode:Tyler’s path from partner at Quinn Emanuel to nonprofit AI safety advocate.The founding of LASST to address potential catastrophic tech risks through legal advocacy.How LASST uses litigation tracking and amicus briefs to influence court decisions.OpenAI’s charitable mission as a 501(c)(3) to ensure AGI is safe and benefits all of humanity.An outline of the concerns over OpenAI’s shift from mission-focused to profit-driven goals.What makes OpenAI’s original nonprofit-over-for-profit structure so unique.Details of the proposed restructuring and its potential mission risks.A breakdown of the open letter urging AGs to protect OpenAI’s charitable mission.Unpacking legal concerns for restructuring under California law and Delaware fiduciary duty.How OpenAI has revised its plans and the remaining questions on control and safeguards.Risks of removing investor return caps, including weakening mission enforceability.Tyler’s optimism about AI’s benefits, alongside concerns over its potential for grave harm.Advice for young lawyers entering the evolving AI and legal landscape.Links Mentioned in Today’s Episode:Tyler WhitmerTyler Whitmer on LinkedInLegal Advocates for Safe Science and Technology (LASST)EncodeEncode Amicus Brief'Not for Private Gain: An Open Letter to OpenAI' | April 2025'Not for Private Gain: An Open Letter to OpenAI Update' | May 2025Fordham University School of Law Corporate Law Center

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• Inside the Rust Lawsuit with Production’s Lead Counsel

  What happens when a high-stakes legal case collides with tragedy, headlines, and the film industry? In this episode of Bite-Sized Business Law, Melina Spadone, General Counsel at Thomasville Pictures and lead counsel for the Alec Baldwin film Rust, shares how she was unexpectedly thrust into one of the most publicized lawsuits in recent memory following the accidental on-set shooting that killed cinematographer Halyna Hutchins and sparked national outrage. From managing fractured legal teams and negotiating settlements to handling crisis PR and even editing the film’s trailer, Melina recounts how her unconventional career path and ability to navigate complexity positioned her to lead with strategy and empathy. She reflects on the power of being underestimated, the value of trusting her instincts, and the unexpected ways that her background (from M&A law to parenting) prepared her for the moment. Tune in to find out how creative thinking, empathy, and fearless leadership helped navigate one of the most sensitive lawsuits in Hollywood, and why Melina believes every twist in her unconventional career led her exactly where she was meant to be!Key Points From This Episode:How Melina’s eclectic law school experience shaped her career philosophy.The case for being a jack of all trades and embracing unpredictability.Insight into the unexpected way Melina became lead counsel on the Rust case.Strategic leadership across litigation, OSHA, insurance, and PR in a crisis.Treating a movie as a distressed asset in legal negotiations.Honoring Halyna Hutchins through movie completion and awards consideration.Ways that Melina’s varied career experience and personal background prepared her for this case.Why being underestimated is a secret weapon.Lessons in self-trust, advocacy, and client-centered lawyering.Beyond the headlines: financing and completing Rust post-settlement.Thoughts on Trump’s proposed film tariffs.How AI and cost are shaping the future of independent film.Links Mentioned in Today’s Episode:Melina SpadoneThomasville PicturesRust TrailerRust on Amazon PrimeRust on Apple TVRoom to GrowThe Metropolitan OperaFordham FolliesFordham University School of Law Corporate Law Center

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