Earlier quoted context omitted.
"Buyers are willing to pay for labour at the clearing price based on their assessment of cost-vs-benefit." If you're competing against firms like Google or startups that just raised unicorn funding, and these days everyone is, then the people bidding in the market or labor are not doing cost benefit analysis. They just need to hire. They have the money, they need to hire and they're going to do it no matter what the…
> If you're competing against firms like Google or startups that just raised unicorn funding, and these days everyone is, then the people bidding in the market or labor are not doing cost benefit analysis. They just need to hire. That is a cost-benefit analysis. They've received funding, they have a business model, now they need labour. It seems to me your real gripe is that there's a large amount of investment flowi…
1. "Hire/retain at market rate". Easy unless you don't know what the market rate is, which you don't, because - as you say - incomplete information is an inherent feature of any resource allocation system including markets. Which is probably why vbezhenar phrased their claim in relative terms instead of absolute terms, whilst caveating that this is true for an "ordinary company" but maybe not for Google or governments. Theirs is an inside-the-market view. You're arguing that all you have to do to solve this problem is somehow step outside the market, and just know what the final price actually is for any given person.
2. "Hire in a different market". But that isn't an answer to the OP's point, it's an agreement with it. He's explaining why ordinary companies will refuse to train people. You're claiming the "solution" is to get out of Dodge i.e. not train people. It's not a refutation.
There's no political axe grinding here. What's happening is not unique to SV tech firms. It's an inevitable consequence of CB monetary policy distorting classical market economics. The causes of the policy may ultimately be political, but the outcomes are inevitable.