The investment firm Andreessen Horowitz is moving its incorporation out of the First State, and urging others to follow, as backlash to its courts grows.

Does the bell toll for the First State as the home for most of corporate America?Aimee Dilger/Associated Press

Andrew here. Andreessen Horowitz just announced plans to move from Delaware and reincorporate in Nevada, following similar moves out of the state by companies including Dropbox, Tesla and TripAdvisor. It could be a watershed moment: One of the most influential firms in Silicon Valley is openly telling its young portfolio companies to consider moving, too.

This isn’t just about a few big names. It’s a signal to the entire tech ecosystem that the “Delaware default” might be coming to an end. We dive into that below, along with Linda Yaccarino’s exit from X, big news in noncompete agreements

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