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I remember seeing a paper that explained that while the a business needed 7 employees on average to reach something like $1MM in revenue in 90s, it was now 3.
by aatd86 3y ago
I remember seeing a paper that explained that while the a business needed 7 employees on average to reach something like $1MM in revenue in 90s, it was now 3.
So I think it still has the potential to replace some people. And even with AI and AGI eventually perhaps.
This is a progression.
Besides, employment is a bad measure in general if one does not compare it to others such as cost of living, poverty etc...
Like non farm payroll doesn't say anything if everyone is employed living with the minimum paycheck.
- joshuahedlund 3y ago> I remember seeing a paper that explained that while the a business needed 7 employees on average to reach something like $1MM in revenue in 90s, it was now 3. An alternative interpretation: while in the 90’s, 7 people could only support one $1MM business, today they can support at least two. (US unemployment is lower now than it was then.)
- rolisz 3y agoHow much of that is because of inflation though? 1 million in 1995 corresponds to 2 million in 2023 dollars.
- deleted 3y ago[deleted]