John, I think you missed [or skipped over] the essential ingredient]. 1Q = 1 median human hour. That would be immutable. That would be the fundamental value of the company.
As always, if the shareholders [being those holding Q at any particular instant] were to issue themselves or employees swarms of Q, they would move the value away from 1 median human hour, confidence in the currency would collapse and it would be Game Over in a very, very short space of time. It would be instant suicide of all holders of Q, including those who issued stock [Q] to themselves.
There is nothing like mutual, collective, terror to get some sensible agreement to huddle together. Greed is tempting, but terror trumps greed when the fangs are showing.
Your comparison with Cisco's printing of new shares is reasonable. The outcome was the inevitable outcome of Darwinian stock market analysis.
The patentable part of my idea is assigning the value of Q to the median human's hourly value, transacting that value in cyberspace to QUALCOMM servers [or the spun off company's] via wireless cyberspace [any device, but BREW would no doubt be a good technology to support it, running on cdma2000 phragmented photons], multiple redundant servers all over the place, including the subscriber's handset.
The key would be the immutable value of a median human hour. Deviate from that immutability and it'd be all over Rover. This would be the ultimate in democracy. It would be the ultimate trust in human-kind and their self-interest.
Regarding the track record and the 1000 chimp theory, yes, I'm an exponent of that. When I said track record, I was interested in more than the results, which you rightly point out give random winners. I meant not just financial success [which always has a lot of luck] but also personal attributes over decades, preferable. Judging a youthful Bill Gates, before he became $ill, would involve less track record, but he would still have personality, honesty and those other vital 'faked sincerity' essential ingredients.
Faked sincerity isn't all bad, because when done from a young age, it becomes habit-forming and is less easily broken than a tobacco habit.
Gotta run,
Mqurice |
