Comment by simianwords

These corporations exist and do work. Worker owned companies have their own challenges and their own advantages.

For example they tend to be more stable during crisis, because workers tend to vote for lowering salaries/benefits temporarily rather than doing layoffs. So they retain talent better. But they also tend to have difficulty to grow quickly, for obvious reasons.

Besides full on coops, there are also plenty of examples that are hybrids (partially worker owned).

> they would get their face eaten by other more efficient and ruthless corporations

You're possibly of assuming that a company needs to have an adversarial relationship to their workers in order to be competitive. I don't think that's generally true. This approach has advantages in specific situations, but disadvantages in others.