Out of the 996 Dilemma: Property Rights, Pass and Productivity

The recent 996 topic has become one of the hottest topics in public opinion due to the participation of many entrepreneurs. Under the corporate system, there are largely irreconcilable contradictions between individual interests and corporate interests. The 996 working system is a concentrated expression of this contradiction, and it also has long-term objective existence of major enterprises.

However, with the introduction of the pass-through economy, the aforementioned situation may be fundamentally resolved. In response to this topic, the Chain Catcher (ID: iqklbs) made a draft of CoinTiger founder Frank Ling to talk about some of his views.

In Frank Ling's view, the blockchain organization uses Token as a tool and the issuance mechanism as the accounting principle. All employees including employees, management and partners can share the company's cash income and capital gains. The interests of the stakeholders are unified. Therefore, in the future, we must promote the return of the power of benefit distribution to the market, and let the math-driven code and market-driven supply and demand work together to push the history forward.

There are two things that people can't do. One is to decide the life and death of others, and the other is to distribute the money of others. The former, from the theocracy society, the monarchy to the human rights society, people have gradually laid down the scale of life and death for others, and try not to deprive people of their lives as equals. Guided by human will, the artificial distribution of money is still prevalent. After the serf system, the company system lasted for nearly 400 years.

Dutch East India Company, referred to as VOC, the world's first joint-stock company

Of course, in the past these were no problem. At the stage of underdeveloped productivity, capital is one of the most scarce core production materials. In a society full of class divisions, most people work for capitalists and there are no more choices.

However, with the progress of productivity, the development of urbanization and the Internet, "capital" began to accelerate the flow and even surplus with the process of urbanization. "The cooperative network formed by high-quality talents" is the goal of capital chasing, followed by capital itself. In individual high-tech areas, the value created by a single person is the core component of the company's value.

The owner of capital, do not say "exploiting" others, it is common to lose the bottom. This is true in the fields of film and television, culture, bio-pharmaceutics, and chips. The key talents will be born and died. If they are not properly distributed, they will start a new stove.

How do you organize productivity as a company sponsor? How to divide money? Is the relationship between the boss and the employee fair?


Dusk of the company system: class disappears, collaboration rises

Many colleagues in the blockchain industry wrote articles saying that the company system came to dusk. However, looking at it, almost all the formation of great productivity is promoted by the centralized company system. From the beginning of the real twilight, it seems that everyone is ignorant.

The company system itself is actually a real exploitation relationship and an organizational form of productivity. The organizers of productivity need to take risks, advance capital, pay wages, get a share of the market competition, and ultimately obtain operating profit and capital value. The company bears the risk and advances the cash flow. It must crush the employees to hedge the volatility in the operation and improve their sustainability.

In the past, in capital scarcity and class society, such a relationship was reasonable and very conducive to the release of productivity. From the Indian caste system, the American serf system to the British enclosure movement, each industrial country relied on such a hierarchy in the early days, allowing it to create an atmosphere that motivated companies to organize production relations.

Child labor in a city factory

But when it comes to the human rights society and the information society, when people's value can be higher than the company, everything is changing quietly. Last week, the topic of 996 was extremely hot. The complaints of employees and the hot discussion of entrepreneurs swept the entire Internet. From the appearance of property rights and distribution issues behind 996, it can be seen that the dividend of low human rights has completely disappeared.

As an entrepreneur of the Internet, if you still use the company system, you need to bear multiple risks, the specific performance is the disappearance of the Internet data dividend + economic cycle + high human rights costs. As the organizer of the production relationship, the entrepreneur is also a person who does not enjoy the bonus, but bears a lot of advance costs. How does the society progress?

The only path is that the entrepreneur and other people are not the relationship between the boss and the employee, but the cooperative relationship of the free person, which minimizes the organization cost and minimizes the legal risk of the entrepreneur. Only then can the SME be able to return to the road.


Free collaboration foundation: transparent ledger, liquidity sharing, property sharing

Free collaboration has always been a wonderful vision, but information asymmetry has caused all participants to fall into the prisoner's dilemma: "What if he is lazy with me or puts money into his pocket?"

A sentence of people separated from the belly, so that almost all the cooperation has slowly moved towards disappointment. Humanity is so, only transparent accounts that cannot be tampered with can make everyone stop suspicion. This is the real "reshapement of production relations."

It can be said that Token itself is the greatest institutional creation of the moment.

It’s just a pity that in the past 18 months, the blockchain project that referred to “production relations” has exceeded 1000+, but no one can clearly and clearly explain the solution to the above problems, so that when the 996 topic is swiped, Originally, there should be a right to speak, and the blockchain project, which reinvents the relationship of production, has not even had an open and constructive opinion.

We have actually stood at an unprecedented historical level, and everyone is busy showing off technology without talking about demand. It seems that as long as we talk about fragmentation, Layer 2, decentralization, high TPS, etc., we can have a future. Everyone has forgotten that history is written by the people. Only by relying on the masses, relying on the masses, and mobilizing the masses can we have a future, and technology is only the way to realize the needs of the masses.

How to organize productivity? Based on our experience, the recommendations are divided into three steps.

The first step is to transparently use the Token as a tool and the issuance mechanism as the accounting principle. All stakeholders, including employees, management and partners, share the company’s cash income and capital gains, so that everyone’s ass can sit. On a bench.

Note that we did not mention equity, because the shareholding system used to be honey, but now it is a poison of productivity.

A senior angel investor once said that 90% of companies are actually in the hands of VC, because the capital structure often makes many companies have to fall apart in 3-5 years.

First of all, the equity itself cannot be dynamically adjusted. Once many shareholders have confirmed their rights, they will go outside the company and seek to maximize their own interests. Individual interests and company interests are difficult to coordinate, and slowly become an outsider who enjoys capital gains but does not contribute strength.

For insiders, the outflow of early shares will basically lead to the loss of the right to speak at the board level. At this time, the key talents that determine the life and death of the company are often not fully valued by the board of directors, and even forced to go to the opposite side.

The rigid corporate distribution system has made it difficult for most companies to go long-term unless the founders have the money to keep their shares. For most companies, investors do not dismantle Taiwan, employees do not anti-water, partners do not tear, and the wife's average life can be more than three years.

Therefore, when a large number of employees complain about 996, in fact, in the entrepreneurial market, the boss or the organizer of productivity is the most hard-working group. There is neither the protection of labor law nor the stable market environment. When doing well, people call a "boss". If they don't do well, they will turn to the labor arbitration court.

In the face of the future economic trend and the new cycle of dividends, the "enterprise" production organization will eventually lead to an extremely embarrassing situation for the organizers of productivity. Therefore, the opaque shareholding system must be replaced by Token.

The second step is the introduction of cash flow. Let Token become the company's most important cash flow standard.

Regardless of the market, most of the investment products will have liquidity problems, whether it is NASDAQ or A-shares. In the long run, all investors are facing a rapid increase in investable assets, tens of thousands of stocks, plus commodity futures, plus a variety of derivatives and funds, there are tens of thousands of Tokens, etc., but with more The money is also destined to go to a limited variety.

The small team's Token is even less able to gain the favor of users in the investment market. It can only be the introduction of its own cash flow to form a continuous order. Everyone gradually forms the distribution of pricing and power in the transaction, forming everyone is a shareholder, person. People are employees, and everyone is the ultimate assigner of interests.

Token's best practice is Huawei's internal virtual equity. Only by fully dispersing the right to capital gains and binding everyone to a book, the "boss" and "employees" are not antagonistic, and the transparency of the blockchain can make everyone controversy. The introduction of cash flow allows all employees and investors to enjoy capital gains as long as they pay.

The closest thing to Huawei's virtual equity is the option issued by Internet companies, but the core of the option itself is the POS mechanism. Although it also looks like the POW mechanism allocated according to work, the option itself is still part of the capital gain, and it itself has almost no flow. Sexuality is still the "boss / major shareholder" has the final say. Many employees have fallen into the pit of option incentives. The cakes are painted extremely but have no liquidity. When the company goes public, it finds that the options are worthless and shouted.

Token based on the POW design idea can avoid this problem. The salary is also the pass, and the bonus is also the pass. The company's legal currency cash flow is also completely used for Token's repurchase and sale. The entire company's interest structure is completely bound to one. On the balance sheet. At this time, even the investors of small companies do not have to worry about exiting. The cash flow is reflected in Token, and financial fraud is even more difficult. After all, there are so many pairs of eyes watching.

The third step is to share property rights and transparency.

Many business owners have a strong "family business" thinking, trying to control the business, otherwise they will feel unsafe. In fact, in today's fast-changing environment, only by maintaining the vitality of the enterprise, and allowing the more willing and willing to do more, the enterprise is truly safe. The more control a company has, the easier it is to lose its vitality. So is it better to choose a boss who is a dead enterprise, or is it a big and dynamic shareholder? Self-evident.

For most SMEs, equity is not liquid, and ordinary employees can't follow it with sorrow. They think that this is the boss's business, and they just get some dead wages. The use of Token, the combination of Token and shareholders' rights, can significantly activate the vitality of employees, and can solve the boss's own exit and realization dilemma to some extent.

Token is like a web, filtering out those employees who are willing to stay and can invest for a long time, and increase their voice by licking Token. Those who are unwilling to participate will realize the Token and gradually leave, and eventually Token and the economy behind it will choose to be with the people who believe in it.

Productivity is alive. It has a self-will on the basis of human beings, and it also chooses to stay at its most fair place. The earliest development of productivity, the choice of the company system, the origin of the company can be traced back to the ancient Roman period, and later developed in the medieval continent of Europe and the Mediterranean coast.

Because of the vast ocean, the maritime trade requires huge investment, and it is very risky. So there is a kind of enterprise organization called Sossets and Kangmenda. This kind of organization is the earliest form of the company, and the shareholding system is only later. .

We have been away from ancient Rome for several years today, and our productivity has expanded rapidly. If the production relationship is still stopped at such an ancient stage, it is obviously unreasonable. As the best application in the blockchain field, Token will also be one of the biggest applications, relying on everyone to explore and practice together.

Distribution in the past is controlled by God. Now it is controlled by people. In the future, we need to return the power of distribution to the market, let the math-driven code and market-driven supply and demand work together to push history forward.

Author/Frank Ling

Unauthorized, declined to reprint

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