Holacracy of No Manager Titles at Zappos

I know of companies where entry-level and mid-level leaders focus their career a lot on title and salary.  These are the things that matter most.  In one example, the senior manager bemoaned the unwillingness of his top leadership team to make lateral career moves, even for development purposes.  The underlings want to move upward in prestige and remuneration.  

Which brings us to Zappos.  The elimination of titles doesn't mean managers have disappeared, but rather, as I understand John Bunch in this Entrepreneur interview, it means managers are more open and accessible as well as more responsible and accountable.  In brief, what they do and how they do it have far more import than what they are called and what position they hold.  This is one essence of holacracy, about which Steve Denning elaborates in Making Sense Of Zappos And Holacracy.