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Why do you consider the joint stock corporation to be the most important invention of the industrial revolution? | Sam Altman from OpenAI

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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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This answer is part of a full interview with Sam Altman, Co-founder & CEO at OpenAI.

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Why do you consider the joint stock corporation to be the most important invention of the industrial revolution?

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