I’d like to believe that this is true but it feels too simple. I am open to being challenged on this. How much cash do they actually have vs how much of it is stock? I do think it’s weird and upsetting that Amazon employees seem to be so overworked and underpaidhttps://twitter.com/planetoffinks/status/1006979457020780545 …
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on a fundamental level living-wage jobs come from businesses needing to scale their capacity to meet increasing demand. the amount of demand-side stimulus you get from increasing minimum wage is tiny and doesn't move the needle enough.
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so for these reasons the technocrat class doesn't really advocate for increasing minimum wage. there is some organizing from grassroots to raise it (https://fightfor15.org/ ) but it is limited traction because of a loose labor market at the bottom.
End of conversation
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