Re:How Wizards of the Coast distributed equity as a startup
by mooreds on Thursday October 23, 2014 @04:44AM
(#8497228)
Nice! For others, this is from an actual pirate code: http://en.m.wikipedia.org/wiki/Pirate_code
Re:How Wizards of the Coast distributed equity as a startup
by TDL on Thursday October 23, 2014 @09:13AM
(#8497919)
Peter Leeson wrote a paper on the economics of pirates, possibly of interest:
[PDF warning] http://www.peterleeson.com/an-arrgh-chy.pdf
I. Every man has a vote in affairs of moment; has equal title to the fresh provisions, or strong liquors, at any time seized, and may use them at pleasure, ...
IX. No man to talk of breaking up their way of living, till each had shared one thousand pounds. If in order to this, any man should lose a limb, or become a cripple in their service, he was to have eight hundred dollars, out of the public stock, and for lesser hurts, proportionately.
X. The Captain and Quartermaster to receive two shares of a prize: the master, boatswain, and gunner, one share and a half, and other officers one and quarter.
Far more equitable than most startups.