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I think there are some differences between owning stock and owning the machines. Stock gives you abstract control through voting, and the board has much more power than you. When you own the machine, you can physically operate it yourself. It’s like owning a car versus owning stock in Uber - when you own a car you reap the benefits of cheap travel much more directly and in a very different way than getting a dividend check.

I think stock schemes can work as an abstraction, but only when combined with other bylaws that grant clear powers to shareholders (like a bill of rights). I write a little about that in one of my speculative fiction stories on automated society here:

http://tlalexander.com/corporation/



> I think there are some differences between owning stock and owning the machines. ... When you own the machine, you can physically operate it yourself.

i... sure?

if i'm not an expert in using (and maintaining) that equipment (who also happens to own a space which is large enough and zoned for that equipment, and proximate to the customers or raw inputs for the equipment), owning the corporation that owns the equipment is better than owning the machinery, because it means i also employ people to run (and maintain) the semiconductor fabs and wire bending machines and shit (which have been located in cost effective places) for me, so i can go off and do the things i know how to do well.

> ...when you own a car you reap the benefits of cheap travel much more directly and in a very different way than getting a dividend check.

i also accept all of the risks and responsibilities directly. if i buy into a hypothetical publicly traded ride sharing company, i don't have to worry about any of that.


>When you own the machine, you can physically operate it yourself.

Can I? I've got no clue how to run a Kiva, I just know that somewhere, there's one making me a few pennies right now being run and maintained by people who know what they're doing.


Following the car analogy, many people don’t know how to change their oil, but they could if they wanted. That is a freedom a piece of normal stock does not give you. If your stock truly represented an equal share of the operation, you could work with other shareholders and manage the local warehouse to your liking. It sounds like you’re satisfied with Amazon, so perhaps you won’t get involved. But it would give the warehouse workers a voice if they felt they were being abused.


I'm not exactly disagreeing. I'd absolutely explicitly dump my Amazon (the whole mutual fund its in actually) if a robot-owning stock with a "shareholder bill of rights" as you describe existed.

A product/brand independent "means of production" type investment is an interesting idea. It still doesn't fix the fact that there are people who are just never going to have the resources to buy into such a thing, which I think is really the core of the issue.


Yes, shareholder voting can be heavily manipulated just like political voting can. It's between guy A who does what the board wants and guy B who does what the board wants a lot of the time.

Of course if you are a common stock holder you are at the bottom of the barrel as far as value goes. Preferred stock holders get all their money first, and then common share holder get what's left (at least in a liquidation).




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