The major way they broke capitalism was by not going public. Gabe has to answer to nobody, so the usual gang of corporate fucking idiots can’t force him to do short sighted shit to make a short term squeeze at the cost of long term viability.
This is the key. It’s the WHOLE thing. A runaway cap table destroys companies, always. Investors have different exit horizons and they are fundamentally incompatible with long term viability.
All you need to do to compete with a publicly owned company is capitalism is wait for their investors to get too greedy.
I’ve been screaming this exact sentiment into the void for a long time, so it’s nice to see someone else who understands.
The main reason companies are getting so shitty right now isn’t a blanket “capitalism bad”. Companies need to have a clear goal that they pursue with a coherent vision, and that is impossible when you auction away control of the driver’s seat to a comittee of random people with varying interests.
They could, but they won’t.
The major way they broke capitalism was by not going public. Gabe has to answer to nobody, so the usual gang of corporate fucking idiots can’t force him to do short sighted shit to make a short term squeeze at the cost of long term viability.
This is the key. It’s the WHOLE thing. A runaway cap table destroys companies, always. Investors have different exit horizons and they are fundamentally incompatible with long term viability.
All you need to do to compete with a publicly owned company is capitalism is wait for their investors to get too greedy.
I’ve been screaming this exact sentiment into the void for a long time, so it’s nice to see someone else who understands.
The main reason companies are getting so shitty right now isn’t a blanket “capitalism bad”. Companies need to have a clear goal that they pursue with a coherent vision, and that is impossible when you auction away control of the driver’s seat to a comittee of random people with varying interests.