Clinamenic

θερμοδυναμικός καπιταλιστής
Thinking about a new breed of businessperson, technologically enabled to be more transparent, in the spirit of the triple bottom line.

What would be some consequences of having an executive of a company, a person, be radically monitored and supervised, in 99% of their life doings, by a contingency of shareholders or people otherwise effected by these business decisions?

I'm thinking a more throughly public life than even most of our celebrities, maybe even going as far as public/livestreamed therapy sessions, letting shareholders into the head of the executive, and how such arrangements can be "cryptographically guaranteed" by some smart contract architecture.

There have been some gimmicky examples of this, such as certain influencer/micro-influencers who let fans govern certain life decisions by way of governance tokens, i.e. crypto.

If we are to get past single bottom line motivation, I think something needs to change radically about how we go about high-stakes business, and what degree of discretion is left to executives. Certainly there must remain pockets of privacy and discretion, or else one's strategy may be disintegrated, but I think having a public record of, what 95% of one's personal expenditures may be a step forward, and would require a sort of gracious sociopath to accept such terms.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
One day, sooner than later I hope, we may have automated executives that have virtually no discretion apart from what shareholders may decide, but until that point we may have to contrive ways around the deeply harmful motivation of the single bottom line.

And by "automated executives" I mean an aggregate of smart contracts, which obviously doesn't need to be personified as a artificial executive, but would nonetheless be operating in similar capacities.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
The trade-off, in principle, would be higher power and higher responsibilities, in exchange for less privacy. This arrangement would seem to sift out those whose expenditures would warrant more privacy than such a position would afford, and attract those who would approach such a position as a vocation and would be willing to incur such a loss of privacy.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
I'd imagine high enough offices already have similar arrangements, just probably not codified and systematic enough as to be expressed in something like a public blockchain.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
It is a utopian vision, that executives may be systematically obligated to approach their responsibility with austerity and as a vocation.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
And another premise to this is that global systematic growth requires, at least until we figure out an alternative, that some humans have considerably more power than others, that some humans are bureaucratically endowed with greater decision-making capabilities, executive capabilities - but that the system may, in critical places, function to keep tight constraints on these executives.

To believe that every person's opinion be weighted equally, indiscriminate of insight or acumen, strikes me as naive, but I also think material wealth tends to have a toxic and corruptive effect on one's sympathetic decision-making capability.

Hence my inclination to philosophically generalize capitalism beyond material wealth. For a while I called it psychic capitalism, which I think is too mystical, and for the time being I call it thermodynamic capitalism, which I think is equivalently arcane and ineffective. I suspect, still, the term "capitalism" is not a fitting term, but I fail to identify a better one.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
Thats where something like this could have religious facets, and may segue naturally enough from the ostensibly protestant glorification of busy-ness.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
Religious facets, i.e. not strictly pursuing wealth that is limited to material expression, limited to the enjoyment of one person or one dynasty, but rather a wealth that is scalable and reminds us of what we are capable of as a species.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
Psychic capital pertaining to the wealth that accompanies one in meditation.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
This sort of public executive could also play to the spectacle of celebrity, to garner and capitalize upon that sort of fascination and fanbase/shareholder loyalty.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
But what need to be properly stress-tested are the capabilities of cutting-edge technologies in terms of incentivizing good-faith behavior, good-faith business.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
I doubt blockchain and its derivative innovations alone will usher in an era of good-faith capitalism [edit: understatement, to be clear], but I do think they will provide interesting new means of economically incentivizing good-faith business, i.e. accountability via shared or even public databases.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
I doubt blockchain and its derivative innovations alone will usher in an era of good-faith capitalism [edit: understatement, to be clear], but I do think they will provide interesting new means of economically incentivizing good-faith business, i.e. accountability via shared or even public databases.
As opposed to good-faith business not having any direct accountability whatsoever, and rather being accountable via further good faith behavior, i.e. the honor system.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
Watching a dialogue between Sergey Nazarov of Chainlink, and Jonathan Ehrenfeld of SWIFT, which apparently has over 12,000 banks worldwide as its members clients.

Another interesting possible consequence of blockchain, is that private ledgers are no longer the only option, so we would no longer have to automatically grant a financial institution the benefit of the doubt, regarding why they choose to employ private ledgers, which have hitherto been the only options.

Now that the option for a public ledger is available, it is more apparently a choice to use a private ledger.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
Which isn't to say that any financial institution that uses a private ledger is doing so in bad faith, but rather to say that their doing so will now be seen more as a choice, a choice with a motivation.
 
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