[geonineties]

Replying twice, but you might be interested in the history of joint stock companies (what we call corporations). They started to deal with losses at sea, so a lot of your maritime piracy analogies are strangely fitting. This is the first o e https://en.m.wikipedia.org/wiki/Dutch_East_India_Company

The fundamental thing I think silicon valley got right is to make the employees shareholders and owners. Co-ops get that right too.

[EchoChamberMan]

It's hilarious the first example is also, in the first paragraph, a monopoly. I don't have a problem with theoretical capitalism, but people would much rather use their resources to squash a competitor, or in this case, legally prevent, competition on talent.

[Edit]

People love to espouse the free market, but I'm not sure it ever existed.

[geonineties]

I would say that the monopoly granted to EIC was more like the monopoly granted to patent holders. The risks to life and capital of the venture were extreme.