Fair points.

Ok so instead of giving new employees profit share, we give people who have worked at the company for 12 months a profit share, assuming they have met fair productivity targets.

Let's now apply this to my new employee watering my plants. If all he does for 12 months is water my plants, well he's not going to keep his job. I want him pruning the plants too, monitoring pH and humidity levels, pest control, driving to the store to get supplies, perhaps even dealing with buyers... if he's doing all this, well he's earning a share of the profits. That might not be outright ownership, it could just be an annual profit related bonus. Or maybe shares every year of employment to gradually increase his interest. One thing is for sure, you're right that I wouldn't want to give a new employee a slice of the business before he's even proved his worth. I recognise that will stifle innovation.

But if he does prove his worth... well giving him a slice might make such a difference to productivity that I end up making more money too. It would certainly be prudent of me to consider such a scheme, calculating how much extra productivity I need for it to be mutually beneficial.

If he's just getting an hourly wage, well all he'll do is what his job description tells him to do. If he's got a vested interest in the company, well he might start taking more care of the plants, which will have a beneficial effect on yield.

You make a fine argument, but I'm yet to be convinced the problems you outline can't be overcome.