Too Small to Fail: A New Perspective on Environmental Penalties for Small Businesses
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She thanks Henry Gilchrist, Timothy Burke, Kimberly Burke, and Alexis Berg for their support, and the University of Chicago Law Review Online team for all their hard work.
This Case Note explores the possibility that, in a world where TikTok is banned or heavily regulated, individual TikTok users could sue states under a Takings Clause theory. Any such cases would have to wrestle with two core questions (1) whether the account holders hold an actionable property interest in their accounts; and (2) if so, whether permanently and totally depriving users of access to their accounts constitutes a taking.
The author thanks the University of Chicago Law Review Online team for their helpful feedback.
This Case Note first reviews the origins of the postal-matter exception and the FTCA. Then, it analyzes the Fifth Circuit’s holding in Konan and explores contrasting precedent in other circuits, most notably in the First and Second Circuits. Finally, this Note discusses the difficulty of balancing USPS’s interests against enabling suits under the FTCA and considers the implications of providing a tort remedy.
My views on these subjects owe much to my collaborators, especially Michael Barr, Megan Shearer, and Michael Wellman, with whom I have been studying the behavior of algorithmic traders in financial markets, and Howell Jackson, with whom I have been presenting on social media and capital markets at PIFS-IOSCO’s trainings for securities regulators. All errors are my own. Thanks to the participants at the University of Chicago’s Symposium on “How AI Will Change the Law” for helpful comments, and to the editors of the University of Chicago Law Review for their helpful insights.
This Essay argues that the increasing prevalence and sophistication of artificial intelligence (AI) will push securities regulation toward a more systems-oriented approach. This approach will replace securities law’s emphasis, in areas like manipulation, on forms of enforcement targeted at specific individuals and accompanied by punitive sanctions with a greater focus on ex ante rules designed to shape an ecology of actors and information.