What's Up Everyone - In today's society, one doesn't have to look far to see that there are countless rent seekers in positions of power and status in an organization, and they serve as liaisons between the workers and senior management. This also applies to governments, private companies, non-profits, music labels, acting agencies, and more.
I know that often it is human nature for people to use the efforts of others to advance their own, but there are many cases where I see rent-seeking behavior with very little or almost no proof of work by this "parasite". It's a shame to see a programmer slave hours away on a project, deliver exceptionally, and receive a 3% increase and a 5% bonus. A situation where the manager puts almost no blood, sweat, and tears and receives a 20% increase and a 30% bonus. I've just witnessed a scenario like this happen far too many times.
Beyond corporate, I see record labels and management companies juice the profits of the artist that signs with them. At the onset signing with them was the one thing that got them out of beans and rice, now they are losing direct capital benefits & freedom of expression/creation.
I don't write this to change how a free market system should be... Do you think Bitcoin may change the incentive structures so in the future there will only be value creators - and not middlemen with a smile and a slick handshake? Could Bitcoin disintermediate the bureaucracy of middle management across all industries, and how do you think this would play out? I would love to hear everyone's thoughts!
Cheers Everyone!
it is human nature for people to use the efforts of others to advance their own, but there are many cases where I see rent-seeking behavior with very little or almost no proof of work by this "parasite". It's a shame to see a programmer slave hours away on a project, deliver exceptionally, and receive a 3% increase and a 5% bonus. A situation where the manager puts almost no blood, sweat, and tears and receives a 20% increase and a 30% bonus.
The middleman! It's really terrible. People need to realize and embrace the true nature of Bitcoin.
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Maybe? Unfortunately, I think it will remain fringe until participants are seeing similar realized earnings on the Bitcoin-based replacements.
Just take your record label and management company example. There are Bitcoin-based systems out there like Wavlake or the Value4Value movement that allow people to self-publish and self-release their music. However, if you look at the Top 40 on Wavlake, for example, the artists aren't making much.
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Just added Wavlake, it really does need attention of a celebrity IMO for traction to pick up on that platform. People already are using the platforms they want to use (there are already too many). There needs to be a strong incentive for people to switch over.
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Bring back legal duels, that wold fix a lot...
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Nope, just think about it for 2 seconds. Bitcoin cannot stop rent seeking.
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