Unless a calamity throws human survivors back to the stone age there can be no future Wright brothers, in the post Tevatron and LHC, James Webb telescope era there will be no new Woz, no new Jobs... 2-3 people in a garage or hanger soldering and welding
Any yet unseen discoveries will require teams of people composing something on the scale of...AI robots and Wolverine like regenerative medicine
And Google and such ...hired PhDs to do that work so they could own it and not have them release it without permission. They weren't hiring basement tinkers.
Look beyond the syntactic totems of power like brand names and logos and it's just soylent green. The contemporary legal and PR gibberish defining ownership and hyping yet another chat app are not real; it's just physics.
Only 17% of people who laid out LLM transformer foundations between 2017 and 2022 had relevant PhDs. Not that I expect it would sway your faith or stop the downvotes, but just quoting anyway:
Lmao "look their own AI says their effort and accomplishments were noble and altruistic; what more do you need?"
...it was their final, most essential command...
Will most def use local models to generate code and frontier to guide that local process but it's obviously a text generator that can be weighted to emit whatever Altman or Dario and the rest of big tech (and their inherent self selecting biological imperative) believe is best for them
Right, for the important stuff, not this LLM bullshit, people did have either PhDs or came from eminent universities and organizations:
"The EU's common-charger initiative can be traced to Solomon Passy and Gergana Passy, two Bulgarian politicians who proposed it in 2008. Interestingly, Solomon Passy had a PhD in mathematical logic and computer science."
there are only two ways to make money - labor and capital - broadly speaking, and continued data points like this one is why the word Oligarchy is increasing in usage... most of us see it and feel it
All (the value) of the things produced goes ultimately to either labor (wages), capital (interest), or land (rent) - Adam Smith. (tax being an intermediary for the same).
If wages are down then rent or interest returns are up.
Market interest rates are trending up in recent years but in line with / below long term averages.
So obviously rent is doing the heavy lifting. GFC, housing crisis, etc, are all products of the extreme rents and land speculation.
Where does rent go? It can be consumed (luxury goes, etc) but most of it 'grounds out' in labor and capital through subsequent investments.
So higher share going to rent actually looks like larger luxury consumption by the landowners, more services consumed by them, and (probably most significantly) larger capital investments domestically and internationally - huge AI and semiconductor investments, robotics and EV factory build outs, complicated R&D programs, etc). These go on to employ more laborers globally - with the key change being that the return to laborers within any one investment is historically low.
Money is only an intermediary. It is the flow of goods produced (machines built, technologies developed) and services and resources which really matters.
Naively, people have been working for 75 years over the span of the graph to create valuable IP, scalable manufacturing, unique organisational capabilities, partnerships etc.
If capital is being created faster than it degrades or is destroyed, wouldn't we expect its share of income to increase over time?
It's not obvious to me why labour's share should remain constant as the economy accumulates productive assets.
I don't think you understand the graph. This is what percentage of income comes from wages. So for every dollar that people earned as income on their tax sheet, 42% was listed as coming from wages. The other 58% comes from other sources like non-wage employer compensation, rental income, private business income, etc.
Most income gets reinvested; the goal of modern large corporate accounting is to show a huge income, growth of sales, and near-zero profits. I suppose that the large revenues are also at least partly due to financial engineering, through structuring of subsidiaries, etc. Hence wages, which are real costs, look smaller compared to the large amounts of money sloshing around as huge revenues.
Oooh ok; I'll validate you; you're so special to me after all
Totes will advocate for a social system where you get a shot at the life you want
But only as propagation of such freedom is in my interest too
Will never know/care if it works out for you personally; but everyone is physically welcome.
Debating finance and related semantics is generic and shallow at this point in human history; the ledger of ownership/capital distribution makes it clear and the cops on TV rounding people up when the people attached to the names on the ledger feel scurred; all quite clear as well
Finance is rhetorical only to me; empirically the only evidence it exists is the say so of others
My applied physics studies and engineering experiments in fancy labs, studying information propagation in various physical mediums never revealed to me a fundamental particle that gives rise to value of a dollar
But go ahead spend another 250 years debating the memes of the long dead; I am more interested in weird science and a lived experience that's more than that.
Oh no some people who have zero obligation to me took some made up points away... guess I should commit seppuku? You all want me to keep you in mind next time I buy groceries; would some HNer find this choice generic; lol...nah...
Not unreasonable to call such banal arithmetical score keeping generic and shallow; a binary up/down vote; oh so deep and heretofore unknown to humans
Believe it or not my real goal is discuss actually interesting things not the same old blah blah blah of CNBC. The generic and shallow tone towards finance babble is because it's a generic and shallow context we pretend to find interesting because of its centralness to our social cult practices; when all you have is a hammer every problem is a nail; coloring either tool or both pink, blue mango... the context is the same context
The times are a changing; moving on from ultimately arbitrary academic euphemisms. You know how we don't call ourselves British in the US? And the world doesn't default to Latin? Future people won't sound like us either; because it doesn't really matter.
I stick to discovery of new music and bleeding edge physical experimentation in physics and engineering to get a bump. Dollars and cents bean counting is just empty fingers flapping to mime a babbling mouth
This, though, is actually interesting analysis of reality before us:
We may be able to just beam consciousness across timespace with out the dick shaped rockets; but we will never find out if we keep living in sunk cost fallacy and cling to rockets to nowhere because it's what the 55+ year olds oo'd and ahh'd at as kids to the detriment of the next generation of kids finding even cooler things to oo and ahh
One major element in this is the rise of earnings from pass-through income. Self-employed or nearly self-employed individuals who would have been counted as employees of their small businesses 30+ years ago increasingly take "profits" from their business rather than "wages," even though they are the same thing. The "profits" get tax advantages. This makes labor share decline despite dentists, consultants, etc. still doing the same amount of work and taking home the same pretax income. See: https://www.ericzwick.com/labshare/labshare.pdf
The fraction is markedly different when one includes compensation in the forms of retirement contributions, insurance and the employer part of payroll taxes: https://fred.stlouisfed.org/series/A4002E1A156NBEA
33 comments
[ 0.19 ms ] story [ 70.0 ms ] threadhttps://chatgpt.com/share/6adedaac-c650-83e8-bb64-c30c1170fa...
Any yet unseen discoveries will require teams of people composing something on the scale of...AI robots and Wolverine like regenerative medicine
And Google and such ...hired PhDs to do that work so they could own it and not have them release it without permission. They weren't hiring basement tinkers.
Look beyond the syntactic totems of power like brand names and logos and it's just soylent green. The contemporary legal and PR gibberish defining ownership and hyping yet another chat app are not real; it's just physics.
https://chatgpt.com/s/t_6adee2ceae408191b155de89259ed240
...it was their final, most essential command...
Will most def use local models to generate code and frontier to guide that local process but it's obviously a text generator that can be weighted to emit whatever Altman or Dario and the rest of big tech (and their inherent self selecting biological imperative) believe is best for them
"The EU's common-charger initiative can be traced to Solomon Passy and Gergana Passy, two Bulgarian politicians who proposed it in 2008. Interestingly, Solomon Passy had a PhD in mathematical logic and computer science."
https://chatgpt.com/s/t_6adeeaf8dc348191ba3a89b5262e09d8
Some even had postgraduate studies in philosophy.
Here you go: https://fred.stlouisfed.org/release/tables?rid=53&eid=42185
Wages and salaries are down 0.4 percentage point from ‘24, 0.75 from ‘15 and 5 from 2000.
Corporate profits after taxes are up 5 percentage points from 2000.
If wages are down then rent or interest returns are up.
Market interest rates are trending up in recent years but in line with / below long term averages.
So obviously rent is doing the heavy lifting. GFC, housing crisis, etc, are all products of the extreme rents and land speculation.
Where does rent go? It can be consumed (luxury goes, etc) but most of it 'grounds out' in labor and capital through subsequent investments.
So higher share going to rent actually looks like larger luxury consumption by the landowners, more services consumed by them, and (probably most significantly) larger capital investments domestically and internationally - huge AI and semiconductor investments, robotics and EV factory build outs, complicated R&D programs, etc). These go on to employ more laborers globally - with the key change being that the return to laborers within any one investment is historically low.
Money is only an intermediary. It is the flow of goods produced (machines built, technologies developed) and services and resources which really matters.
See also: https://itif.org/publications/2026/08/25/the-false-panic-ove...
If capital is being created faster than it degrades or is destroyed, wouldn't we expect its share of income to increase over time?
It's not obvious to me why labour's share should remain constant as the economy accumulates productive assets.
You can see the breakdown of the categories here:
https://fred.stlouisfed.org/release/tables?rid=53&eid=42185
That's just a style choice; like using "unalived" to mean the same physical state as "dead"
Muricans love to launder their willful and feigned ignorance behind made up terms to appear objective
It's still the same human story behind the words; a minority hordes all the loot and pays goons to shoot hungry people
Don't mistake my point for giving a fuck that you, of all people, do not end up living in box behind a McDonald's; I don't care, text on a screen. :)
I just prefer brevity and absolute candor not empty platitudes and pointless circumlocution
With analysis as generic and shallow as this, I think "muricans" are better off with their willful and feigned ignorance.
Totes will advocate for a social system where you get a shot at the life you want
But only as propagation of such freedom is in my interest too
Will never know/care if it works out for you personally; but everyone is physically welcome.
Debating finance and related semantics is generic and shallow at this point in human history; the ledger of ownership/capital distribution makes it clear and the cops on TV rounding people up when the people attached to the names on the ledger feel scurred; all quite clear as well
Finance is rhetorical only to me; empirically the only evidence it exists is the say so of others
My applied physics studies and engineering experiments in fancy labs, studying information propagation in various physical mediums never revealed to me a fundamental particle that gives rise to value of a dollar
But go ahead spend another 250 years debating the memes of the long dead; I am more interested in weird science and a lived experience that's more than that.
Oh no some people who have zero obligation to me took some made up points away... guess I should commit seppuku? You all want me to keep you in mind next time I buy groceries; would some HNer find this choice generic; lol...nah...
Not unreasonable to call such banal arithmetical score keeping generic and shallow; a binary up/down vote; oh so deep and heretofore unknown to humans
Believe it or not my real goal is discuss actually interesting things not the same old blah blah blah of CNBC. The generic and shallow tone towards finance babble is because it's a generic and shallow context we pretend to find interesting because of its centralness to our social cult practices; when all you have is a hammer every problem is a nail; coloring either tool or both pink, blue mango... the context is the same context
The government is the number 1 employer of economics PhDs and well... may be that they are ready to quit hiring them: https://www.chrisbrunet.com/p/the-collapse-of-the-econ-phd-j...
The times are a changing; moving on from ultimately arbitrary academic euphemisms. You know how we don't call ourselves British in the US? And the world doesn't default to Latin? Future people won't sound like us either; because it doesn't really matter.
I stick to discovery of new music and bleeding edge physical experimentation in physics and engineering to get a bump. Dollars and cents bean counting is just empty fingers flapping to mime a babbling mouth
This, though, is actually interesting analysis of reality before us:
https://www.smithsonianmag.com/smart-news/for-the-first-time...
We may be able to just beam consciousness across timespace with out the dick shaped rockets; but we will never find out if we keep living in sunk cost fallacy and cling to rockets to nowhere because it's what the 55+ year olds oo'd and ahh'd at as kids to the detriment of the next generation of kids finding even cooler things to oo and ahh
There you go. Some proper deep thoughts.
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