…rd enough as it is in corporate environments. How do you fire someone for non-performance in a DAO? How do you ensure that the guy in charge of ICO security is actually qualified and not just elected because everyone likes him? You can’t risk someone running off with $45 million in Bitcoin because Bob got elected for his great stories about Burning Man and his painting skills.
…t all create their own drivers co-operative, and by-pass Uber, because all they require is the app. The problem facing workers in the past in setting up co-operatives has been that of the cost of capital, which makes it difficult to start up on a large enough scale of production. But, it is precisely the massive fall in the cost of many forms of technology, an the fact that the new profitable industries are in the realm of services, that means that obstacle today no longer exists. I find it amazing that we have not already developed our own large labour movement media production company, for example, to challenge the mainstream media.
…ends, which correspondingly also reduces the profit left over to invest in real productive capital. According to Bank of England Chief Economist, Andy Haldane, in the 1970’s the proportion of profits going to dividends was around 10%, whereas today it has risen to around 70%. Hillary Clinton a couple of years ago painted a similar picture for the US.