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Hat tip to Marc Rubinstein’s {{pl|https://netinterest.substack.com/p/citi-never-sleeps|''Net Interest''}} blog for fishing this one out of the morass — no-one else seems to have spotted it — but the [[JC]] got on the Google and discovered that, in time-honoured tradition, this is simply cribbed from an existing disclosure from a 2019 disclosure document by PayPal: | Hat tip to Marc Rubinstein’s {{pl|https://netinterest.substack.com/p/citi-never-sleeps|''Net Interest''}} blog for fishing this one out of the morass — no-one else seems to have spotted it — but the [[JC]] got on the Google and discovered that, in time-honoured tradition, this is simply cribbed from an existing disclosure from a 2019 disclosure document by PayPal: | ||
{{Quote| | {{Quote|“As we expand and localize our international activities, we have become increasingly obligated to comply with the laws of the countries or markets in which we operate.”}} | ||
“As we expand and localize our international activities, we have become increasingly obligated to comply with the laws of the countries or markets in which | |||
It turns out that expression, in various iterations, has been popular with start up stock offerings | It turns out that expression, in various iterations, has been popular with start-up stock offerings [https://www.google.com/search?&q=%22As+we+expand+and+localize+our+international+activities%22 for a while now]. Most omit the killer adverb “increasingly”, which makes the statement a whole lot less fruity. Our deep market research<ref>This is code amongst the secret association of bloggers for “I Googled it.”</ref> reveals that this expression first | ||
entered the argot of securities offerings in 2006 with eBay’s innocuous statement: | |||
{{quote|“As we expand and localize our international activities, we become obligated to comply with the laws of the countries in which we operate.”}} | |||
Within a decade, eBay came to regard compliance with local rules as discretionary, which makes their statement a whole lot ''more'' fruity: | |||
{{Quote|As we expand and localize our international activities, we ''may'' become obligated to comply with the laws of the countries or markets in which we operate.}} | {{Quote|As we expand and localize our international activities, we ''may'' become obligated to comply with the laws of the countries or markets in which we operate.}} | ||