Evidence receipt / prediction
Published · transcript-backedBrad DeLong: prediction
22 Feb 2023 Conversations with Tyler Brad DeLong on Intellectual and Technical Progress
“Whatever you think Elon Musk will do of Twitter — which in my view is, he’s most likely to simply light it on fire and burn it down — it is going to be an experiment in which he takes the organization that had become extraordinarily bureaucratic and seriously shakes it up, possibly to the long-run public good.”
Source trail
Everything needed to verify it.
- Speaker
- Brad DeLong
- Attribution
- Verified speaker
- Claim type
- prediction
- Recorded
- 22 Feb 2023
- Publisher
- Conversations with Tyler
Transcript context
…Was Schumpeter correct about the bureaucratization of the large business firm? I would say in the very long run, no. In the medium run, definitely yes. You look at the Apple TSMC as not yet a duomonopoly. It’s not yet the combination of WinTel, but it’s kind of getting there in its sphere, and it’s an extremely taut and low-bureaucracy organization when you look at the entire value chain. You take a look at Google, and it also looks to be an extremely taut, unbureaucratic value chain. You look at the old Twitter. Yes, the old Twitter apparently was highly bureaucratized because nobody could get approval to ship anything. Whatever you think Elon Musk will do of Twitter — which in my view is, he’s most likely to simply light it on fire and burn it down — it is going to be an experiment in which he takes the organization that had become extraordinarily bureaucratic and seriously shakes it up, possibly to the long-run public good. About a decade ago, you and I did a symposium with Greg Clark. I think it was at UC Davis, and we talked about his book, A Farewell to Alms. Since then, he’s had other books —…
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