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Who knows? Could be the same reason why there are no footnotes. For all the talk of disruption — a word some VC pulled out of his ass — people in the Bay Area have a pathological fear of change. It used to take fifty years for a company to become ossified and resistant to change. Now it doesn’t take that long. Companies become risk-averse the moment they hire enough employees to fill a conference room and have a meeting. There was something about that in the Harvard Business Review not too long ago. Medium might get nimbler after another round of layoffs.