Obligatory Matt Levine take https://www.bloomberg.com/opinion/articles/2019-06-21/slack-s-non-ipo-went-pretty-well#everything-is-seating-charts https://www.blo

Obligatory Matt Levine take https://www.bloomberg.com/opinion/articles/2019-06-21/slack-s-non-ipo-went-pretty-well#everything-is-seating-charts https://www.bloomberg.com/opinion/articles/2019-06-21/slack-... > Good lord have they never read Coase[1]? The point of working at a company is that, like, there are pens, and desks, and a place for your umbrella, and the ability to commit to continuous work on a project for a sustained period rather than constantly shaking things up with never-ending auctions for resources and people. If it’s just a bunch of by-the-day freelancers at rented desks, why have the company at all? (In fact, it's a mixed bag: “Disco’s operating margin has risen to 26% from 16% since the experiment was implemented eight years ago,” but “engineers have quit, complaining the approach detracts from their ability to focus purely on research,” and “the relentless focus on quarterly profits can encourage short-term thinking.”) [1] https://en.wikipedia.org/wiki/The_Nature_of_the_Firm https://en.wikipedia.org/wiki/The_Nature_of_the_Firm