WHY DO COMPANIES CARE ABOUT CULTURE?

Summary from the TLDR Founders newsletter

Imagine a company where any manager can hire whoever they want with no culture screens or founder veto. This thought experiment feels intuitively wrong for a good reason. The average white-collar worker is at least as much an externality to colleagues as an input into production. When outputs can't be properly attributed, rewards for good work are capped, and punishments for laziness are attenuated. Culture steps in to resolve this by making profit-seeking the means to a greater end - something worth existing beyond any individual's tenure or payout.