He uses "credentials" the way "resume" is used here. Large companies allocate compensation & power based on credentials, including those you get in-company like seniority and job title. Startups let you succeed and fail based on performance instead of this poxy proxy for it. He goes in depth into the "grades problem" that Mayer seems to exemplify and several commenters here brought up.
I think pg was optimistic about this topic in 2008, and this article relates to his larger vision of a "high-resolution" economy where un-credentialed entrepreneurship plays a larger role, and corporate-bureaucratic credentialism plays a smaller one.
We'll soon have 3-5 trillion dollar companies (unicorn-eating dragons, technically). They're less "old fashioned" in their credentialism, but they're credentialist nonetheless.
I'm with Paul though, we need to figure out ways of having the economy that is less abstract.
Thanks for posting this. I think some people can become so specialized that they fit into specific roles and that some products rely on a group of professionals from different disciplines working together.
He uses "credentials" the way "resume" is used here. Large companies allocate compensation & power based on credentials, including those you get in-company like seniority and job title. Startups let you succeed and fail based on performance instead of this poxy proxy for it. He goes in depth into the "grades problem" that Mayer seems to exemplify and several commenters here brought up.
I think pg was optimistic about this topic in 2008, and this article relates to his larger vision of a "high-resolution" economy where un-credentialed entrepreneurship plays a larger role, and corporate-bureaucratic credentialism plays a smaller one.
We'll soon have 3-5 trillion dollar companies (unicorn-eating dragons, technically). They're less "old fashioned" in their credentialism, but they're credentialist nonetheless.
I'm with Paul though, we need to figure out ways of having the economy that is less abstract.