Meanwhile, U.S. companies are cutting our already-shitty vacation and leave.
Samsung chip workers will get an average $340k bonus as AI profits soar
61–70 of 207 posts
Re: Samsung chip workers will get an average $340k bonus as AI profits soar
#62Re: Samsung chip workers will get an average $340k bonus as AI profits soar
#63Earlier quoted context omitted.
People are billionaires because they “share with society”. They take a small fraction of the wealth and surplus they create. If you create $6 of value for every American and capture half of it you are a billionaire. “Public investments” besides are heavily spent on. The majority of the US federal budget goes to welfare. If you want new infrastructure and so on, the primary blockers are the universal veto powers we ha…
Pro-tip: more often than not people are billionaires because their parent was a billionaire or multi millionaire
That’s actually a pretty good thing. Becoming a multi-millionaire is quite achievable in this country and if that means I provide a compounding ability to my kids to provide a large amount of value to a large amount of people and capture some amount of that, that’s a good thing.
Since 2/3rds of American billionaires are from industry, if it is true that their parents were multi-millionaires, that is wonderful. The fact that children here can take the platforms their parents build them and turn that into great value for the American people is a good thing and one of the reasons I am drawn to this country.
Re: Samsung chip workers will get an average $340k bonus as AI profits soar
#64Earlier quoted context omitted.
Imagine the world, where instead of making billionaires and trillionaires, we would actually share with society. Providing affordable products/services to common people. Decommodification of life. There's no money for public investments, but there is always money for wars. There's no money for raises and bonuses for workers, until workers show there's no company without them. So, if there's no money for public invest…
People are billionaires because they “share with society”. They take a small fraction of the wealth and surplus they create. If you create $6 of value for every American and capture half of it you are a billionaire. “Public investments” besides are heavily spent on. The majority of the US federal budget goes to welfare. If you want new infrastructure and so on, the primary blockers are the universal veto powers we ha…
> People are billionaires because they “share with society”. They take a small fraction of the wealth and surplus they create.
I truly cannot believe that anyone with an ounce of empathy or integrity could possibly believe a statement as absurd as this.
Re: Samsung chip workers will get an average $340k bonus as AI profits soar
#65Re: Samsung chip workers will get an average $340k bonus as AI profits soar
#66Earlier quoted context omitted.
Pro-tip: more often than not people are billionaires because their parent was a billionaire or multi millionaire
Yes, and the contributions from those parents were so valuable that the society still owes them, even long after their death. That's why we pay our dues to their children and grandchildren.
You might be living inside a philosophy book about capitalism. Do you know about the existence of Russian oligarchs and their offspring? Or Texan billionaires that one day woke up and found out they were living on top of oil? What contribution did they give to society?
Re: Samsung chip workers will get an average $340k bonus as AI profits soar
#67Earlier quoted context omitted.
But who will protect the interests of capital??
I think you mean who will protect the interests of the consumer? That's ultimately who loses to unions. There's no direct ethical value in protecting businesses or their owners but workers and consumers include pretty much all humans and their interests are in tension with each other.
mostly the government because the consumer has a lot of democratic power.
product regulations and antitrust as examples
Re: Samsung chip workers will get an average $340k bonus as AI profits soar
#68Earlier quoted context omitted.
In all honesty, I’d rather get paid the $500k/yr people make here than have a union negotiate a $350k one time bonus in a time of unprecedented success. Given these two options, I’m not that eager to have their system.
$500k/yr? Do you think a lot of people make that much?
While we’re at it I, too, would rather be given $xx billion a month and a pony than be in a union and only get a $350k bonus.
I think I am making a shrewd decision here if my math and equine knowledge holds.
Re: Samsung chip workers will get an average $340k bonus as AI profits soar
#69Earlier quoted context omitted.
People are billionaires because they “share with society”. They take a small fraction of the wealth and surplus they create. If you create $6 of value for every American and capture half of it you are a billionaire. “Public investments” besides are heavily spent on. The majority of the US federal budget goes to welfare. If you want new infrastructure and so on, the primary blockers are the universal veto powers we ha…
> People are billionaires because they “share with society”. They take a small fraction of the wealth and surplus they create. I truly cannot believe that anyone with an ounce of empathy or integrity could possibly believe a statement as absurd as this.
Disbelief rarely alters reality. Eppur si muove.
Re: Samsung chip workers will get an average $340k bonus as AI profits soar
#70Earlier quoted context omitted.
https://finance.yahoo.com/news/wealthiest-10-americans-own-9...
So basically most older professionals, and today's young professionals will step into their shoes as they grow their wealth over time too. Which means probably far more than 10% of the population will at some point in their life belong to that group which owns 90% of the means of production.
> will at some point in their life belong to that group which owns 90% of the means of production
Would love to but I'm afraid you grossly misunderstand how the power law distribution works. Unfortunately the billionaires are running away from us exponentially faster than we are catching up.
Speaking as someone who will almost certainly become a multi millionaire in the next decade or two. (even if I stop adding more savings manually)
But crucially this only happens if there _isnt_ a big revolution in USA. If there is, I'm fucked.