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Let's Know Things

Workplace Politics

Let's Know Things

Colin Wright

News Commentary, News

4.8593 Ratings

🗓️ 20 October 2020

⏱️ 27 minutes

🧾️ Download transcript

Summary

This week we talk about lobbying, Coinbase, and stakeholder capitalism.


We also discuss the attempt to be apolitical, neutrality as non-neutrality, and venture capitalists.



This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit letsknowthings.substack.com/subscribe

Transcript

Click on a timestamp to play from that location

0:00.0

In the 18th century, the term box lobby lounger came into vogue in England, referring to a person who would show up to a play

0:24.4

at the theater, but not attend the play. They would hang out in the lobby for the sole purpose of

0:29.9

chatting with actual attendees before, after, and during the play's intermission. The idea was that

0:37.3

folks who had box seats at the theater

0:39.6

were often high society, well-to-do, influential people, and thus, spending time with them

0:46.4

put you in a position to perhaps shake the right hand, maybe even grease the right palm,

0:51.5

and in any case get your face known, so that if you encountered those

0:54.7

people again, there was a chance you'd be remembered, which could be useful in future dealings,

0:59.9

whether those dealings were of the business, social, or political variety. This term crossed

1:06.3

the Atlantic to the U.S. soon after, as did the practice of hanging around theaters and other such

1:13.0

venues, to attain adjacency to influence and power. And by the 1810s, the term had expanded

1:20.1

to include those who hung around the lobbies of political institutions, like statehouses and

1:26.4

congressional campuses, even to the point where some

1:29.1

influential non-politicians became known as lobbyist members of the government, because they

1:35.9

influenced policy and made deals, much like politicians, but from the lobbies of these

1:41.6

institutional buildings, rather than from the traditional seats of government power.

1:46.9

In the earliest days of lobbying in the United States, much of the activity stayed at the local level,

1:54.6

which made sense both because travel and communication was a more ponderous exercise back then,

2:00.3

but also because there was more power

2:02.4

at the state level in those days. Lobbying was also, notably, still more of a small and

2:09.3

independent endeavor, with interest groups and representatives of businesses and industries

2:14.9

petitioning their political representatives for certain measures and

...

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