If my friend lied or deceived me then I would be angry. Otherwise, I think my friend would have reasonably interpreted my failure to ask how much he would make from the deal as a signal that I wasn’t concerned about how much he would be profiting from the transaction. Often finding work is significantly harder than accomplishing it, and knowing this would have caused me to not be upset with my friend. When I did find out what the friend did I would probably think to myself that this is a guy really good at making money and I definitely want to keep associating with him.
Are you sure your judgment isn’t being altered by having the example of Steve Jobs in mind? If someone tricks you out of a substantial sum of money, it’s a bit of a stretch to presume it’s likely they have world-changing taste. Typically, people willing to trick their friends are not people you want to be friends with, and Jobs is the exception rather than the rule. His ability to make money off you does not mean you’ll get a reasonable share of that money.
Are you sure your judgment isn’t being altered by having the example of Steve Jobs in mind
Fair point, but I don’t think so. Let’s say that I’m Woz and had been willing to do the work for $200, and HP ended up paying $5750. This meant Jobs found someone willing to pay 28 times as much for my time as I considered it to be worth. Even if I developed a hatred towards him I would hide it.
I think you’re being a one-step rationalist, looking one step ahead in game theory.
A 2-stepper realizes that, if he signals to his friends that they won’t be his friends anymore if they fail to split windfalls with him, his friends may split windfalls with him.
If my friend lied or deceived me then I would be angry. Otherwise, I think my friend would have reasonably interpreted my failure to ask how much he would make from the deal as a signal that I wasn’t concerned about how much he would be profiting from the transaction. Often finding work is significantly harder than accomplishing it, and knowing this would have caused me to not be upset with my friend. When I did find out what the friend did I would probably think to myself that this is a guy really good at making money and I definitely want to keep associating with him.
Are you sure your judgment isn’t being altered by having the example of Steve Jobs in mind? If someone tricks you out of a substantial sum of money, it’s a bit of a stretch to presume it’s likely they have world-changing taste. Typically, people willing to trick their friends are not people you want to be friends with, and Jobs is the exception rather than the rule. His ability to make money off you does not mean you’ll get a reasonable share of that money.
Fair point, but I don’t think so. Let’s say that I’m Woz and had been willing to do the work for $200, and HP ended up paying $5750. This meant Jobs found someone willing to pay 28 times as much for my time as I considered it to be worth. Even if I developed a hatred towards him I would hide it.
I think you’re being a one-step rationalist, looking one step ahead in game theory. A 2-stepper realizes that, if he signals to his friends that they won’t be his friends anymore if they fail to split windfalls with him, his friends may split windfalls with him.
Or they will just make deals with non-friends and leave me with nothing.