seems most likely to apply to orgs not afflicted by market discipline maybe?https://twitter.com/drethelin/status/1036972653209255936 …
haven't read this yet (on my list), but relevant:https://twitter.com/davidmanheim/status/1033684807635660800 …
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I'd argue that "market discipline" might be helpful, but it can't overcome fundamental limitations imposed by the difficulty of scaling large orgs. (Purpose is lost quickly, then orgs drift towards simple survival mode and principle-agent conflicts takes over.) cc:
@drethelin -
imagine "market discipline" might have lots of minor helpful effects, but the main one I had in mind is that firms usually need to provide a desirable good in order to generate revenue Guess the obvious retort contains the phrase "rent seeking" which maybe is what this is about
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industries with low margins probably have a lot more “market discipline” than high margin companies like google or Apple
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Yes, survival mode leaves a different amount of room for misalignment in different industries.
End of conversation
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