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kimmaicutler's profile
Kim-Mai Cutler
Kim-Mai Cutler
Kim-Mai Cutler
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@kimmaicutler

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Kim-Mai CutlerVerified account

@kimmaicutler

Partner at @initialized. Previously @techcrunch. When life hands me lemons, I make tarte au citron.

San Francisco
medium.com/initialized-ca…
Joined April 2008

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    1. Leo Polovets‏ @lpolovets 22 Jan 2019
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      Replying to @paul_arnold

      What part is unjust?

      2 replies 0 retweets 0 likes
    2. Paul Arnold‏ @paul_arnold 22 Jan 2019
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      Replying to @lpolovets

      A few independent but reinforcing points that come into play:

      1 reply 0 retweets 2 likes
    3. Paul Arnold‏ @paul_arnold 22 Jan 2019
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      Replying to @paul_arnold @lpolovets

      1. We are a community. When a (very) rich man benefits from the community he came up and participates in—the culture, the state, the public resources, the direct support of others—but his gains accrue only to himself, it's fair to ask if that's just.

      2 replies 0 retweets 2 likes
    4. Leo Polovets‏ @lpolovets 22 Jan 2019
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      Replying to @paul_arnold

      Gains don't only accrue to the rich. They (generally) only get rich by creating far more value than they capture.

      2 replies 0 retweets 3 likes
    5. Nathan Baschez‏Verified account @nbashaw 22 Jan 2019
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      Replying to @lpolovets @paul_arnold

      What evidence makes you believe this?

      2 replies 0 retweets 2 likes
    6. Leo Polovets‏ @lpolovets 23 Jan 2019
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      Replying to @nbashaw @paul_arnold

      A few categories of wealth: - inherited (key is how your predecessors made their money) - well-gotten (you create value, capture some of that value) - ill-gotten (you extract more value from others than you provide to them) Anecdotally ill-gotten feels rare: mafia, theft, etc.

      5 replies 0 retweets 3 likes
    7. Leo Polovets‏ @lpolovets 23 Jan 2019
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      Replying to @lpolovets @nbashaw @paul_arnold

      Because most transactions are voluntary, people only transact when they think they're getting more than they're giving up. E.g. even with HF trading (low valuation creation), the counterparty thinks it's getting a good deal, otherwise it wouldn't transact.

      2 replies 0 retweets 2 likes
    8. Kim-Mai Cutler‏Verified account @kimmaicutler 23 Jan 2019
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      Replying to @lpolovets @nbashaw @paul_arnold

      My friends, meet labor monopsony! (cc @noahpinion) https://www.bloomberg.com/opinion/articles/2018-04-05/supply-and-demand-does-a-poor-job-of-explaining-depressed-wages …

      1 reply 1 retweet 7 likes
    9. Leo Polovets‏ @lpolovets 23 Jan 2019
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      Replying to @kimmaicutler @nbashaw and

      I'm not sure I get the implications of this article. Jobs are voluntary, and if one company underpays then others can pay more to compete? E.g. if I don't like being an Amzn warehouse worker, I can do that at Walmart, or become a truck driver, or etc.

      2 replies 0 retweets 4 likes
    10. Leo Polovets‏ @lpolovets 23 Jan 2019
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      Replying to @lpolovets @kimmaicutler and

      Presumably people are at a specific job because they think other jobs are worse, otherwise they would switch to better jobs over time. And a wage floor will make some jobs untenable, which feels like an economic inefficiency.

      1 reply 0 retweets 3 likes
      Kim-Mai Cutler‏Verified account @kimmaicutler 23 Jan 2019
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      Replying to @lpolovets @nbashaw and

      Uh, what if there are two duopolistic employers as you describe in the place of what were once many a generation ago... Read @noahpinion’s story. Studies... “find that in areas where there are fewer employers in an industry, workers in that industry earn lower wages.”

      1:46 PM - 23 Jan 2019
      • 6 Likes
      • Paul Arnold Finbarr Timbers Kyle Russell Ranee Soundara Leo Polovets Patrick Perini
      1 reply 0 retweets 6 likes
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        2. Leo Polovets‏ @lpolovets 23 Jan 2019
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          Replying to @kimmaicutler @nbashaw and

          That part makes sense to me because of econ principles, but 1) If another employer pays much better and you can do the job/quickly learn the job, that incentivizes people to leave or incumbents to raise wages. 2) This sounds like it's regarding more specialized jobs?

          1 reply 0 retweets 0 likes
        3. Leo Polovets‏ @lpolovets 23 Jan 2019
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          Replying to @lpolovets @kimmaicutler and

          I'm also not sure how to process "start with a model of market power, in which a few companies set wages below levels found in a competitive market unless prevented from doing so" If a company can hire at their offered wages, aren't those by definition at the competitive level?

          2 replies 0 retweets 1 like
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