Earlier quoted context omitted.
This is the real core of the problem. Bell Labs was populated by hackers who were perfectly content to earn double to triple what an average factory worker was getting for less toil while doing cool shit. FAANGs became too profitable and attracted people who would have been finance bros in the 90s. Engineers expected to be compensated like quants and directors like portfolio managers. You don't get a Skunk Works or D…
> How do you get this? I don't even know. Well one component that has changed there is that the marginal tax rate on the inflation-equivalent of a Google Director pay back then was 80-90%, so there wasn't really a point in enticing people with large salaries. Also, the factory workers you mentioned could afford houses in a big city on a single income. Now a single FAANG eng struggles to do the same unless they get N…
Absolutely not: re factory workers affording houses in big city on single income in 1960s.