Comment by blitzar
5 days ago
10 years ago, Apple was the largest company in the world by market capitalization, its market cap was around $479.069 billion.
How have we gotten to a point in just a decade where multiple companies are dropping annual numbers that are in the realm of "the market cap of the worlds biggest companies" on these things?
Have we solved all (any of) the other problems out there already?
I'm still not seeing it. It's immoral because it's resources not spent on some particular problem you have in mind?
The 10x from 400 billion to 4 trillion in a decade didnt come from 2% inflation.
It didnt come from nowhwere, or from Silicon Valleys exceptionalism - It came from changing the value of money, labour and resources. It came from everyday people, deficits and borrowing from the next 10 generations of children.
Exploitation. Or cost externalization.
The public discourse is weirdly unable to adress burning problems that had been formulated almost 150 years ago. Much like the climate change topic originating in the 1970s.
1 reply →
Seems like this is about something other than LLMs?
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> The 10x from 400 billion to 4 trillion in a decade didnt come from 2% inflation.
Money printing does not cause inflation equally especially if not distrubuted so.
That was before pandemic inflation and rampant money printing to bolster the fake numbers.
Apple market cap
Jan 2010: 174b
Jan 2020: 1400b (23% growth per year)
Today: 3200b (18% growth per year)
The S&P as a whole grew about 12% a year from 2010 to 2020, and 12.5% a year from 2020 to today
Meanwhile the median wage from 2010-2019 grew 3% a year, from 2019-2023 7% a year
Seems whatever happened in 2020 was good for workers, in that they aren't falling behind owners as much as they were.