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I guess, but as someone else pointed out; the people who created twitter already greatly profited from the venture. I mean, Dorsey isn't part of the board anymo
by jerojero 5y ago
I guess, but as someone else pointed out; the people who created twitter already greatly profited from the venture. I mean, Dorsey isn't part of the board anymore!
In a way, I'm questioning more the IPO than anything else; I think taking the company private after an IPO is a mistake and having it as shareholder owner company is also a mistake due to the size and influence of the platform right now.
I think as a platform grows there are many different ways that ownership can be distributed, no one thinks that a mom and pop shop needs to be socialised, but look at the size and influence of twitter (or facebook, or others). Do you really think people will stop innovating because they can't retain ownership of platforms with hundreds of millions of users? Any platform that gets to this size has already produced billions of dollars for their original owners! I think that's a cynical way of viewing the world, I mean, if anything there are tons of platforms out there that are built from the ground up with openness in mind.
I think you're not approaching things correctly when you say socialization is the flipside of a corporate bailout. The founders and owners of the platform are obviously entitled to compensation for their effort, but I believe there is a point where we can say "okay these people have done good enough!". I mean, big companies buy out smaller companies all the time; why do you think it would be so wrong for a state, or several states to buy out companies and then rework the ownership model of them? Maybe my original comment made it seem as though I was arguing for a state to simply take over. That is not what I'm saying, I'm saying, we need new ownership models. Lots of states around the world, for example, give benefits to people forming coops; but obviously with Twitter, it's a huge platform that already exists so what should be done about it?