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cmuratori's profile
Casey Muratori
Casey Muratori
Casey Muratori
@cmuratori

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Casey Muratori

@cmuratori

I'm worried that the baby thinks people can't change.

Seattle
caseymuratori.com
Joined March 2009

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    1. justus‏ @WEED__WIZARD420 23 Mar 2020
      Replying to @WEED__WIZARD420 @Jonathan_Blow and

      speculate in obvious ways (like, the powerful do not want to lose power), but I am not aware of any empirical models, so I would prefer not to. As to the mechanism to keep this model from degenerating, I don't think it would be necessary to use force. If the majority of the

      1 reply 0 retweets 0 likes
    2. justus‏ @WEED__WIZARD420 23 Mar 2020
      Replying to @WEED__WIZARD420 @Jonathan_Blow and

      economy is organized this way, why would anyone choose to not work in a democratic corporation, given a choice? Also, just to give one more example of feasibility, there is a company in Spain called Mondragon, which has 75000 employees, and is organized the way I described.

      0 replies 0 retweets 0 likes
    3. This Tweet is unavailable.
    4. justus‏ @WEED__WIZARD420 23 Mar 2020
      Replying to @Jonathan_Blow @cmuratori and

      There are a couple possibilities: The empirical evidence might be wrong - not unheard of in economics. Another one might be bias - there is some anecdotal evidence for this, but it is not overwhelming. Another one is that they are winning, but the number of companies organized

      1 reply 0 retweets 0 likes
    5. justus‏ @WEED__WIZARD420 23 Mar 2020
      Replying to @WEED__WIZARD420 @Jonathan_Blow and

      like this is simply too low, so the one out of god knows how many companies that get really big simply didn't get founded yet in the U.S. (As I said, they exist in other countries)

      1 reply 0 retweets 0 likes
    6. justus‏ @WEED__WIZARD420 23 Mar 2020
      Replying to @WEED__WIZARD420 @Jonathan_Blow and

      Oh, and of course there is the "problem" that workers always own at least 51% of the company, so investment is limited to some degree.

      1 reply 0 retweets 0 likes
    7. This Tweet is unavailable.
    8. justus‏ @WEED__WIZARD420 23 Mar 2020
      Replying to @Jonathan_Blow @cmuratori and

      But this means that when some investor wants to either invest in company A or B, and A only has second-class shares, then all other things being equal, he will invest in B, meaning investment is crippled to some degree.

      1 reply 0 retweets 0 likes
    9. Casey Muratori‏ @cmuratori 23 Mar 2020
      Replying to @WEED__WIZARD420 @Jonathan_Blow and

      Many tech companies already have this exact situation (Facebook, Snap, etc.) due to share classes, yet it manifestly did not prevent them from becoming popular investments, so this is not a plausible argument for why democratic companies do not appear at the top.

      1 reply 0 retweets 1 like
    10. justus‏ @WEED__WIZARD420 23 Mar 2020
      Replying to @cmuratori @Jonathan_Blow and

      About a year ago, 83% of outside investors voted to get rid of Facebook's dual-class share structure. I do believe it is a factor; however, it clearly is not the only one, and almost certainly not the strongest one. Again, I'm not aware of empirical studies on this, so it's hard.

      1 reply 0 retweets 0 likes
      Casey Muratori‏ @cmuratori 23 Mar 2020
      Replying to @WEED__WIZARD420 @Jonathan_Blow and

      But they still all invested is the point. You would have an argument that it was a factor if there were lots of similar democratically-run companies with investors clamoring to have them become undemocratic. But no such thing has happened.

      10:08 PM - 23 Mar 2020
      1 reply 0 retweets 0 likes
        1. New conversation
        2. justus‏ @WEED__WIZARD420 23 Mar 2020
          Replying to @cmuratori @Jonathan_Blow and

          You might be right, but in the case of Facebook, what exactly would have been or is the alternative to invest in? Twitter works completely differently, and Myspace has been dead since before Facebook even went public. No competition means no way to tell if the factor exists.

          1 reply 0 retweets 0 likes
        3. Casey Muratori‏ @cmuratori 24 Mar 2020
          Replying to @WEED__WIZARD420 @Jonathan_Blow and

          The point is very simple. There are hundreds (thousands?) of regular companies where investors very obviously invest heavily even though control is precluded by the company's share structure. So this simply isn't a compelling possibility for why "democratic" companies aren't big.

          0 replies 0 retweets 0 likes
        4. End of conversation

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