7-1d2a2 Founders must be legitimate and competent. Pay attention to the selection mechanism, and be aware if otherwise.

Next:

• 7-1d2a3 No LLCs meant only close-knit partnerships with trust were availablehistory
  • I.e., only businesses around family members and close friends were possible
    • [Technology (law) shapes culture] (7-1d2a5 Tech shapes tech)
      • [Symbiotic]
  • Railroads and other heavy industries required significant up-front capital
    • 7-1d2a4 Tech innovation can (and did) drive pragmatic changes in regulation (LLCs)
      • [Tech (railway) changed tech (law)] (7-1d2a5 Tech shapes tech)
        • [Symbiotic]
  • 7-1d2a1 Network-era businesses today have new organizational needs

Related:

• 1-2g1b2 Don’t pay as much attention to people’s conclusions as to the reasoning that led them to their conclusions
• Put differently, be aware of ‘nepotists’
  • Nepotists are not digital-native founders because they are chosen analog
    • 2-1a6b ‘Pavlovian association’ & ‘Social proof’ - Understand the arbitrary association formed within your culture. There are no pure indexes for humans.