Quote:
Originally Posted by CliffFletcher
We have all sorts of innovation and new industries. The problem is they require very little labour. Look at Silicon Valley. You have multi-billion-dollar companies with fewer than 50 employees. Google's parent company, Alphabet, has a market cap of $600 billion and it employs only 70,000 people. That's a fraction of how many people Ford, IBM, and GE employed at their peak.
0.5% of American workers are employed in industries that have emerged since 2000. |
Kind of skeptical of this whole automation narrative. More and more so as the hype dies down.
https://www.city-journal.org/html/re...try-15085.html