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Full-Text Articles in Science and Technology Law
Downstreaming, Rachel Landy
Downstreaming, Rachel Landy
Faculty Articles
Spotify and its competitors all offer the same product at the same price. Why? Scholars have argued that relationships can be designed in a way that naturally promotes innovation. By “braiding” certain formal contracting practices with informal enforcement norms, parties develop a frame-work that supports trust and positive, long-term collaboration. This Article takes on this consensus and shows that not all braiding is good. Using the multibillion-dollar subscription music streaming business as an illustration, it demonstrates just how industry forces can, and do, overcome braiding’s positive slant. In that industry, the major record labels (Universal, Warner, and Sony) weaponize braiding …
Moonshots, Matthew Wansley
Moonshots, Matthew Wansley
Faculty Articles
In the last half-century, technological progress has stagnated. Rapid advances in information technology disguise the slow pace of productivity growth in other fields. Reigniting technological progress may require firms to invest in moonshots—long-term projects to commercialize innovations. Yet all but a few giant tech firms shy away from moonshots, even when the expected returns would justify the investment. The root of the problem is corporate structure. The process of developing a novel technology does not generate the kind of interim feedback that shareholders need to monitor managers and managers need to motivate employees. Managers who anticipate these agency problems invest …
The Growth & Regulatory Challenges Of Decentralized Finance, Aaron J. Wright
The Growth & Regulatory Challenges Of Decentralized Finance, Aaron J. Wright
Faculty Articles
Proceedings of the 2021 Spring Conference: The Impact of Blockchain on the Practice of Law Panel 1: The Growth & Regulatory Challenges of Decentralized Finance
The Rise Of Decentralized Autonomous Organizations: Opportunities And Challenges, Aaron J. Wright
The Rise Of Decentralized Autonomous Organizations: Opportunities And Challenges, Aaron J. Wright
Faculty Articles
The Author explores the nature of DAOs and highlights several areas where states and regulators can adapt existing legal regimes to potentially accommodate DAOs. Part of the Blockchain & Procedural Law seminars (Max Planck Institute Luxembourg for Procedural Law).