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Amazon Economics Google Technology

Planet Strawberry

Who pursues their goals with monomaniacal focus, oblivious to the possibility of negative consequences? Who adopts a scorched-earth approach to increasing market share? This hypothetical strawberry-picking AI does what every tech startup wishes it could do — grows at an exponential rate and destroys its competitors until it’s achieved an absolute monopoly. The idea of superintelligence is such a poorly defined notion that one could envision it taking almost any form with equal justification: a benevolent genie that solves all the world’s problems, or a mathematician that spends all its time proving theorems so abstract that humans can’t even understand them. But when Silicon Valley tries to imagine superintelligence, what it comes up with is no-holds-barred capitalism.

Ted Chiang: Silicon Valley Is Turning Into Its Own Worst Fear

Categories
Economics Politics

Redlining Ramifications

The white families sent their children to college with their home equities; they were able to take care of their parents in old age and not depend on their children. They’re able to bequeath wealth to their children. None of those advantages accrued to African-Americans, who for the most part were prohibited from buying homes in those suburbs.

NPR: A ‘Forgotten History&rsquo’ Of How The U.S. Government Segregated America

I remember Bill O’Reilly arguing with Jon Stewart about how African Americans just need to make better choices to get ahead in the world. He grew up in Levittown.

Categories
Economics

CE000,000s

CEO pay is up about 44 percent since 2007 in nominal terms, and up about 38 percent when you account for inflation. For ordinary workers, pay has decreased 5 percent since 2007 when you account for inflation.

CEO Pay Down in 2015, But Still Higher Than Its Bubble Heights