In his essay on Income Inequality, Paul Graham credited me for pre-publication feedback.
Tim O'Reilly

There is an industrial age mindset exposed here. In the Victorian era you scaled a company by adding people, and each of them expected a share of it. Poor wealth distribution showed someone was taking more than their share.

Unfortunately journalists and academics are a bit slow at changing their models when the world changes.

Now you scale a company by adding data. A company like Facebook adds customers without having to add staff. It charges none of those “customers” but is set up as a big harvesting machine to milk the old-slow corporations which don’t know how to attract customers other than through advertising — a tax on stupidity.

Amassing wealth in a few hands just shows that a few people are clever, while the rest are eking out a meagre living working for those old, slow industrial age corporations in an outdated and dying industrial model.

Yet somehow the journalists and academics want the world to reward the people whose skills are too outdated to be employable in the new society. They want to empathise with them and use the politics of envy to run their own advertising harvesting machine — making money from people’s misery.

We need new metrics which show what is really happening and help people migrate to the new. And we need to stop listening to the old media business model which sets people against eachother just to sell newspapers.

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