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Comment by matthest

3 hours ago

The study doesn't say it went into the 1%'s pockets. It says it went to 2 places:

1) The salaries of corporate employees 2) Shareholders and capital owners

Regarding number 2: "Shareholders" would include anyone who owns any stock at all, including a lot of middle class people with a simple S&P 500 ETF in their portfolio.

And the increase in productivity allowed more people to become capital owners, AKA entrepreneurs. The explosion in software entrepreneurs, for example.

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matthest

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jliptzin  6 minutes ago

#2 only works if the public is allowed to invest when the new technology is in its early stages, which is currently not the case. Microsoft went public in 1986 at a valuation of $2.3 billion (in today's dollars). What's OpenAI / Anthropic going to be worth by the time they IPO? $1 trillion? $2 trillion?

lm28469  3 hours ago

Then why are wealth inequalities exploding? Why are we just about to witness the first trillionaire?

Because no matter what fairy tales you want to believe in your $20 "invested" in palantir won't make you a "shareholder" lmao