Why do you consider the joint stock corporation to be the most important invention of the industrial revolution?
Replied bySam Altman
Co-founder & CEO at OpenAI
Niche: AI
Revenue: Approx. $2 Billion/month
Location: San Francisco, California, United States
Started: 2015
Before corporations, businesses were limited to family trust. The joint stock corporation allowed sovereigns to grant status that let entities amass capital, protect liability, and align incentives. This invention is what enabled the rapid scaling of technologies during the industrial revolution.
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