3 ms·
> They looked at levels of innovation (as measured by a particular kind of patent production) across individual states over time. They found a significant relat
by marknutter 11y ago
> They looked at levels of innovation (as measured by a particular kind of patent production) across individual states over time. They found a significant relationship between increased innovation in a state and the increased income share of the top 1 percent of earners in the state.
Are you F'ing kidding me? Patent production? Since when has looking at patent production been an accurate measure of innovation in the Valley? This is a hit piece, pandering to the tired narrative around "income inequality".
- oldmanjay 11y agoEconomists have to use something to make it seem like they themselves are being productive. Which voodoo would you prefer they use to measure the unmeasurable?
- civilian 11y agoI'd prefer they be honest with themselves and use crystal balls.
- gnarbarian 11y agoEconomists are like meteorologists, they can always explain why they were wrong yesterday. I pity them really. They desperately want to make a solid argument derived from data, but the data they used and the way the split it between innovation derived growth and rent seeking derived growth is spectacularly wrong.
- jnbiche 11y agoHow many SV companies don't file for defensive patents? It's only been in the past year or two that a few bold companies have taken vows to not file software patents, regardless of the consequences (I stand I admire). I can tell you that if you have a type of technology that is patent eligible, and you refuse to file for patents, finding investors is difficult. And indeed, among those companies that have sworn off patents, the ones that I've noticed have all been bootstrapped.
- gnarbarian 11y agoTheir whole argument is silly. If anything software patents are a form of rent-seeking behaviour because they exploit regulation to prevent competition and earn rewards. Furthermore, only huge entrenched companies seem to build up patent war chests, not spry startups who are too busy building things. Then the article lumps everything that can't be explained by patents (14%) into rent-seeking behavior (86%) and claims that's the real source of inequality and the real problem.