Even just co-CEO organizations have usually been a disaster. Companies can and do delegate decision-making--even to the point of having relatively autonomous divisions. This can work reasonably well. It can also mean that the CEO is mostly involved in financial engineering (GE, private equity much of the time) or you end with warring fiefdoms competing with each other (Ballmer-era Microsoft).
Large companies can accomplish things that smaller companies cannot but keeping the ship reasonably on course is a really hard organizational problem. When I was an analyst and spent a fair bit of time with senior execs at tech companies, I often saw how much fragmentation and lack of coordination there was among different groups. But my wonder wasn't that this existed but that the companies were able to function at all.
Large companies can accomplish things that smaller companies cannot but keeping the ship reasonably on course is a really hard organizational problem. When I was an analyst and spent a fair bit of time with senior execs at tech companies, I often saw how much fragmentation and lack of coordination there was among different groups. But my wonder wasn't that this existed but that the companies were able to function at all.