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Please don't organize corporate 'hackathons', as they are spec work of the worst caliber and are exploitative. More info @ http://www.nospec.com
Some people own equity in their corporations, and do not think their corporations exploit them.
I don't think GP is referring to internal hackathons but to public hackathons run by companies (usually with API-use requirements)?
Please don't organize hackathons. They're inauthentic - running counter to coder culture - and a waste of time.
Some people really enjoy them though!

To each their own.

Exactly. It's more like, "Don't show up to the hackathons that you don't like."
What's wrong, exactly, with people saying something is bad and shouldn't be done, when they think it is bad and shouldn't be done?
Quite a lot, if they hold power or influence. One word: Antivax.

This is why it's always OK to call BS. Sometimes you're calling BS, and sometimes you're spouting it. Debate works until it doesn't, and then you get out.

Antivax movement is ignorance of proven science. Expressing the opinion that hackathons are bad is debate.
Depends on the terms of the hackathon. If the terms clearly state that the participants fully own all the IP they develop during the contest, then it's not exploitative spec work.

Why would a company run such a hackathon? To find talent. To make a PR splash about something. To deliver an audience for a partner. To generate ideas. There are lots of reasons.

To encourage use of some API that they provide.
Remember conversation at {mobile games company} - they were keen to have people come in and write games on their own time, but only if they owned them.

- Whats the point I asked, I already know a bunch of artists and programmers (indeed work with some) - if we can't own the IP ourselves ? - Would be just doing extra work for someone else.