Investors or Entrepreneurs?

One of the aspects of play I really like about 18xx games is that players do not directly control companies. They invest in companies and can, to an extent, switch their investments into companies that pay better dividends.

At least, that's how it was in 1829. 1830 introduced a style of play that made investment much riskier. In particular, it banned the sale of the president's share certificate. This meant that the president of a company could asset strip it and dump the shell onto any player who owned more than a single share. The hapless recipient would be unable to sell the shell and would have to buy a train from his own pocket, often leading to bankruptcy. This was, as the box announced, a game for robber barons.

Another trend is for companies to receive their capital as shares are purchased, rather than in a lump when the company first starts. This can lead to players focussing on their own companies rather than investing elsewhere, as they need the investment in order to better their companies. Again, usually players are forbidden from selling the president's certificate.

More recently, games such as 1861 begin with each player owning several minor companies outright. There is no cross-investment until much later in the game, after the minor companies have merged to form public companies.

I like 1830, 1861 et al., but I want to see more games that focus on the player as an investor rather than as an entrepreneur. So for Britain Under Steam, I intend to encourage this style of play if I can. I will certainly allow players to sell the president's certificate, as in 1825. The idea is that they won't be trapped if they invest in a company run by another player.

One consequence is that, if there is no penalty for leaving a company trainless, players will be more tempted to asset strip. This may or may not be desirable, depending on the rest of the game. However, I'm considering halving the value when selling shares in a trainless company; an idea suggested by Mike Hutton (and used, I believe, in 1860). I will need to experiment to see if this works.

A bigger question is how to handle the initial sale of companies, but that topic deserves a post of its own.