I'd like to think that a startup in this space structured around profit sharing would quickly outcompete their competitors by attracting all the best laborers.

I'd like to think that a startup in this space structured around profit sharing would quickly outcompete their competitors by attracting all the best laborers. But I think the reality is that some more feudal tech entity would do whatever it takes to destroy them. Structuring working relationships this way is as deeply ideological as it is opportunistic. At some point we're going to have to realize that this isn't just cutthroat Capitalism, but the explicit way some people want this to be.