- Ethereum founder, Vitalik accused through his twitter took a jibe at Justin sun’s cryptocurrency Tron calling it a ‘SCAM.’
- Vitalik’s controversial tweet caught the attention of the crypto Twitter community and got a negative response from many twitter users.
Interesting. I would rate internal pressure more highly, eg. I'd claim Tron's scamminess is a huge factor limiting their ability to get top quality R&D talent.
— vitalik.eth (@VitalikButerin) February 6, 2020
As a response to tweets by @mayazi, @C1aranMurray and @Noahpinion.
This reply was given on a debate that started when Noah Smith of Bloomberg shared a blog that said that Milton Friedman was wrong to tell companies to only focus on shareholder value.
A reply to this tweet was given by Ciaran Murray, who said,
“Anything a company does with the expressed aim of promoting some other cause over shareholder value is merely a marketing campaign to increase shareholder value.”
This tweet brought Vitalik Buterin into the picture. In his response, he asked why self-interest is okay at a company level but not below it? Why can’t the agents in the company “abuse” their position for their gains?
This led to a debate between the two with Ciaran stating that self-interest is present at all the levels and Vitalik claiming that “*employees* placing value on CSR and sustainability is an important pressure here.”
He also mentioned that consumers find it challenging to push for CSR as when they spend $1 more on a more pro-social product, they lose $1. On the other hand, employees would lose less than $1. He said that in the end, a company is because of its employees.
This debate went on for a while with Ciaran saying that
“I see your point & it has merit, but the costs to individual employees can be high for such actions. It ultimately comes down to what society as whole values (workers & consumers). If social & environmental initiatives are seen as drivers of growth, they will be pursued.”
In the end, people were against Vitalik for calling Tron a scam. They bashed him for his thoughts, and as of now, the arguments are still going on.