From: jamesd@echeque.com
Date: Sun, 19 May 1996 06:46:31 +0800
To: Black Unicorn <unicorn@schloss.li>
Subject: Re: anonymous companies
Message-ID: <199605181709.KAA20680@dns2.noc.best.net>
MIME-Version: 1.0
Content-Type: text/plain



>> At 06:42 PM 5/16/96 -0700, Wei Dai wrote:
>> > I'll just give one problem: the principal-agent problem.  How do owners of
>> > the company make sure the managers operate the company in their best
>> > interest?


>On Fri, 17 May 1996 jamesd@echeque.com wrote:
>> Actually looting of companies happens a lot right now today, and very
>> seldom leads to criminal charges.  Twice I have lost a job because the
>> company I worked for went under, apparently due to looting.

At 08:37 AM 5/18/96 -0400, Black Unicorn wrote:
> Be careful to distingiush "owner" from "employee."  All to common a
> mistake I fear.
> Until someone passes a constitutional right to not be fired, well, you're
> employeed at the will and by the good grace of the owners and your boss.

I was of course referring to looting by the management, not the
shareholders, as should have been obvious from context.


>> In others, such as net startups,
>> I see no solution other than increased reliance on personal individual
>> capital.

>Still, vulnerable to last round problems.

Reread:  Your above statement makes no sense in context.
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