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> Paradoxically, "developed" nation inequality has hit 1920s levels. That’s not a paradox. Inequality is a completely separate measurement that emerges anywher

• pixl97 5mo ago
  >A high density of tech billionaires in California doesn’t prevent I put this in the case of 'eh, maybe'. Not a definite yes or no. The particular place where this breaks is asset ownership and other forms of VC fuckery that start raising the costs for everything around the country.
  • wat10000 5mo ago
    Money is power. Extreme wealth means extreme power. That power can be used to screw people over even if their income looks nominally decent.
• danaris 5mo ago
  But a high density of tech billionaires does prevent a regular family in Tennessee from putting food on their table, by increasing the poverty rates. They do this by a number of mechanisms, including lobbying to reduce or end programs like SNAP, gutting labor protections, and various other political means; and more generally by making money in zero-sum ways (financialization of the economy means that people are getting rich by skimming off money from other people, rather than by creating value themselves).