Government regulated structuring of public companies is not a free market, and enables large asset holders to exert non-proportionate influence over corporations in spite of their smaller shareholders. If you run a company, you owe stewardship to your shareholders more broadly and not just the biggest ones. This effect can be used in layers to magnify it to insane levels. Coupled with OPM (other people's money), you can direct the CEO of the majority of public corporations to do anything. If it is publicly traded, only invest in companies where the founder has retained 51% ownership, and that pay's dividends. This ensures that its run by an individual rather than a cabal seeking to appropriate the capital and direct it toward their own interests. Requiring dividends as a property helps enforce the connection between cash-flows and present value, rather than having a market of ponzi-tokens.