Fascinating to see how rapidly the nature of the firm in the economy is changing as tech reduces transaction costs. Firms have high agency costs but low transaction costs. As the latter drops with tech, it changes the equation in many cases. Outsourcing, contractors vs employees, decentralized networks (Uber, AirBnB), and other forms of coordinated transactions are emerging and its really cool to watch!
Posted on: Thu, 03 Jul 2014 01:57:41 +0000
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