The Nature of the Firm: Why do firms exist? Interesting to think about when you consider the possibility/promise of decentralized autonomous organizations.http://tannutuva.org/blog/2016/the-nature-of-the-firm …
The fact that computers decrease the transaction costs that are the raison d'etre of companies is very important. I wrote about that here: http://paulgraham.com/re.html
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This is why I follow you guys. Good stuff.
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But it also suggests transaction costs drive division of labor and returns to specialization. What does an economy of self employed generalists look like?
End of conversation
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The fragmentation is real, but I find it surprising to see how the improved communication across all kinds of borders has allowed new kinds of cross links. We haven't melted so much as turned from crystal into glass. More chemically inert but still fragile.
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@paulg we are waiting for more of your book-format wisdom since Hackers&Painters.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Brilliant article
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@daedtech Seems like you guys are all narrowing in on the same vision of the future.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Fascinated between the interaction between this effect and the counterbalancing one of computers allowing central entities to make sense of more data, control more behavior. I think that will make companies grow bigger in more legible industries; smaller in the ones more complex
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