Of course the labour market is rigged. It's a power struggle. Facebook will only pay what they have to. You'll take the best offer you can get - there or elsew

Of course the labour market is rigged. It's a power struggle. Facebook will only pay what they have to. You'll take the best offer you can get - there or elsewhere. That's how it works isn't it? If you're in the gig economy the employer has the power since they have plenty of alternatives to go for. If you're in the talent economy then the employer either takes your price or doesn't do the thing they want to do and you go to one of the other people after your services. And that's the difference. Workers tend not to have a a 'no deal, I'll not bother option'. Because if they do that eventually they starve. The lower down the tree they are the quicker they starve. I think it was Beveridge that pointed this out originally. Essentially companies only hire when there is a chance of a profit, whereas workers have to get hired or they starve. That's the asymmetry of power which Beveridge hoped to correct by ensuring there were always more jobs on offer than people who wanted them. Right at the moment Facebook knows you don't have too many alternatives - given the state of the economy. Zuckerberg is taking advantage of that to reduce his costs while still appearing to be magnanimous. Welcome to the gig economy.