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You're assuming these companies create a lot of jobs, but in fact they create far fewer jobs than they did 30 years ago. As Intel founder Andy Grove said (of co
by ljw1001 11y ago
You're assuming these companies create a lot of jobs, but in fact they create far fewer jobs than they did 30 years ago. As Intel founder Andy Grove said (of companies like Apple): "plowing capital into young companies that build their factories elsewhere will continue to yield a bad return in terms of American jobs."
Instagram (for another example) had 13 employees when sold for $1 billion.
- hyperliner 11y agoIt's a fair point. But I think that the issue is that we then are lumping all of these companies into one category and we should look into what they are doing. So if we think that "dating apps" or "photo apps" derive less social value then we would tax them more than startups that derive "more value" (say, fighting disease or providing solar power). There are systems already in place for this type of incentive, where government provides tax breaks in fields deemed "socially more valuable."
- ConfuciusSay 11y agoYou have to be very careful with laws like this where a human has to sit and evaluate the societal benefit of one business over another. Tons of unintended, and potentially very negative, consequences to this. Simplifying the tax system and increasing the top marginal tax rates back to something closer to where they were 40 years ago is preferable in my opinion.