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WhatsApp is everything wrong with the U.S. economy

By bdrasin follow bdrasin   2014 Feb 23, 12:55am 967 views   0 comments   watch   nsfw   quote   share      


Robert Reich: http://www.salon.com/2014/02/22/the_billion_dollar_whatsapp_acquisition_is_whats_wrong_with_americas_growth_partner/

The winners here are truly big winners. WhatsApp’s fifty-five employees are now enormously rich. Its two founders are now billionaires. And the partners of the venture capital firm that financed it have also reaped a fortune.
And the rest of us? We’re winners in the sense that we have an even more efficient way to connect with each other. But we’re not getting more jobs [...] Productivity keeps growing, as do corporate profits. But jobs and wages are not growing.

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