Comment by boothby
7 hours ago
> The math underlying the models is widely known, and there are tons of competitors, including foreign competitors.
Foreign militaries investing in autonomous warfare does not assuage my concerns about my country investing in autonomous warfare.
Also, have you been paying attention to median wages vs median CEO wages since the 1960s? The benefits of computing really have gone to the captains of industry.
Yet, that 80s CEO, practically a peasant by modern standards of pay, had the option to cross the Atlantic in a Mach 2 supersonic airliner. If that's not the most obvious demonstration of technological prowess, I don't know what is. In contrast, the F-35, believed to be the world's most advanced fighter jet today, has a top speed of Mach 1.6
Today's CEOs get a gold-plated sky bus.
The Concorde was cramped. JFK to Heathrow took five hours (3 in the air, an hour in each airport) plus the time for first and last miles. JFK to Heathrow today is 7 to 8 hours with the same provisos.
If you're going to spend a quarter of the day travelling, why not spend a third of the day and do it more comfortably?
The F-35 isn't the fastest jet; fighter jets aren't business jets; apples are not rutabagas.
> Also, have you been paying attention to median wages vs median CEO wages since the 1960s
CEO pay isn’t a good proxy for “captains of industry.” What you want to look at is the labor versus capital share of income. That’s been very stable since the 1960s: https://taxfoundation.org/blog/labor-share-net-income-within....
Clearly that's not a good proxy either then... even the article itself says:
> Ultimately, concerns over inequality should focus on differences within labor compensation rather than the split between labor and capital.
The main issues I can see are:
- This "labor share" includes multi-million dollar executive pay packages, so it's heavily skewed towards the 1%
- It also completely ignores unrealized capital gains and loans against them, which is how the ultra-wealthy actually fund their lifestyles tax-free, with a tiny income on paper
Do those factors meaningfully change the picture? For example, total compensation for Fortune 500 CEOs is only $8.5 billion, which is a rounding error compared to total labor income. And CEOs at the bottom of that range make a few million, so it’s unlikely that CEOs in non-Fortune 500 companies are making the eye popping salaries you’re talking about.
Similarly, what percentage of wealthy people take loans against their assets to fund their lifestyle? You should be able to quantify this if it’s happening at scale.
The income share of the top 1%—so including run of the mill doctors and lawyers—has grown from 15% in 1970 to 21% today: https://ourworldindata.org/grapher/income-share-top-1-before.... There is no way that delta is enough to eat up all the income growth since then.
Tech isn't special. The value of pretty much all productivity improvements since ~1979 have been captured either via the stock market (97% owned by the top 10% in wealth) or land rents.
If tech isn't special, why are nine of the ten richest Americans in tech?