That's a good point. It depends on whether the company's production function really is just 3x the cost of each employee. Clearly, on average, it has to be a

That's a good point. It depends on whether the company's production function really is just 3x the cost of each employee. Clearly, on average, it has to be a high multiple, but on the margin it probably does drop to 1x. I concede that the argument for sublinear would have to be something about overhead or n-choose-2 communication costs.