tag:blogger.com,1999:blog-2830084253401570472.post1463830960045448368..comments2024-03-28T09:22:36.967+13:00Comments on Offsetting Behaviour: What can you do with a B.A. in Econ?Eric Cramptonhttp://www.blogger.com/profile/15831696523324469713noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-2830084253401570472.post-29040958472849579912012-09-11T20:25:06.515+12:002012-09-11T20:25:06.515+12:00Because they could be happy elsewhere as well. The...Because they could be happy elsewhere as well. There has to be something holding them where they are. It doesn't have to be physical capital, it could just be reputation, for example. If the firm has a good reputation for doing what they do then leaving could mean losing that reputation. But there had to be something.Paul Walkernoreply@blogger.comtag:blogger.com,1999:blog-2830084253401570472.post-14645249292557319542012-09-11T14:20:20.524+12:002012-09-11T14:20:20.524+12:00Valve does release a lot of statistics about itsel...Valve does release a lot of statistics about itself and its digital distribution platform, Steam. Everything from the computer hardware its customers are using to the price elasticities of demand for video games. There's certainly enough information out there to draw some conclusions about their operation.Jack Thompsonhttp://www.facebook.com/jthompson.nznoreply@blogger.comtag:blogger.com,1999:blog-2830084253401570472.post-1337516538813154362012-09-11T14:12:49.508+12:002012-09-11T14:12:49.508+12:00Much of Valve's value lies in its community. T...Much of Valve's value lies in its community. That's not just the staff but its customers and the relationships between them. There are Valve fans who won't use competing platforms on principle, despite the cost of entry being zero. You can't just set up a competing firm and develop something similar, it takes many years of organic development.Jack Thompsonhttp://www.facebook.com/jthompson.nznoreply@blogger.comtag:blogger.com,1999:blog-2830084253401570472.post-35427778190266707072012-09-11T12:20:58.036+12:002012-09-11T12:20:58.036+12:00The other reason is the open nature of Valve. If y...The other reason is the open nature of Valve. If you have a good idea which attracts the talented people in the company, your idea will become a reality. And you will hopefully receive due recognition.<br />I guess you'd only leave if you're unhappy enough to shift. Restarting the community, even with the same people, takes time and resources away from developing the idea.Frank Blacknoreply@blogger.comtag:blogger.com,1999:blog-2830084253401570472.post-51296082912382310662012-09-11T12:04:10.818+12:002012-09-11T12:04:10.818+12:00Why bother if they're happy where they are?Why bother if they're happy where they are?Eric Cramptonhttp://offsettingbehaviour.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-2830084253401570472.post-38633919018917886012012-09-11T10:56:59.478+12:002012-09-11T10:56:59.478+12:00Yes but why don't some or all of them just get...Yes but why don't some or all of them just get up and leave to form their own firm? The community would still be in the new firm. There must be something keeping them where they are.Paul Walkernoreply@blogger.comtag:blogger.com,1999:blog-2830084253401570472.post-64430449796816824522012-09-11T10:53:36.994+12:002012-09-11T10:53:36.994+12:00Wow. Jaw-dropping wow. I hope there's serious ...Wow. Jaw-dropping wow. I hope there's serious work going on tracking what makes it tick.Eric Cramptonhttp://offsettingbehaviour.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-2830084253401570472.post-83376502993847591112012-09-11T10:51:18.487+12:002012-09-11T10:51:18.487+12:00The glue is in hiring people who are likely to rea...The glue is in hiring people who are likely to really love working together and who love doing awesome things. Community matters.Eric Cramptonhttp://offsettingbehaviour.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-2830084253401570472.post-32495555663371076062012-09-11T10:30:16.929+12:002012-09-11T10:30:16.929+12:00A read through Valve's employee handbook helps...A read through Valve's employee handbook helps explain how Valve works.<br />http://newcdn.flamehaus.com/Valve_Handbook_LowRes.pdfFrank Blacknoreply@blogger.comtag:blogger.com,1999:blog-2830084253401570472.post-4215849797109770612012-09-11T07:48:49.348+12:002012-09-11T07:48:49.348+12:00"Mr. Newell said that there was a better chan..."Mr. Newell said that there was a better chance that Valve would “disintegrate,” its independent-minded workers scattering, than that it would ever be sold."<br /><br /><br />Mr Newell may have a point. You have to ask what is keeping the "firm" together? What is the glue that keeps the human capital in place? Without some glue I think Newell is right, the workers could just scatter. My work would suggest that scattering is more likely the larger the firm and the more heterogeneous the human capital.Paul Walkernoreply@blogger.com