Silicon Valley employers underbid for skilled labor and are able to hire less of it than they want; describe this state of affairs as a “shortage.” 7,413rd in a continuing series: https://www.mercurynews.com/2018/02/25/hidden-cost-of-housing-how-a-shortage-of-construction-workers-is-making-our-crisis-worse/amp/?__twitter_impression=true … (It wasn’t tech this time!)
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If you choose to have high-resolution labor costs because you want to capture the efficiency gains of never having idle workers and never having a mismatch in apprentices and experts then you don’t get to complain about spot prices for experts during boom times.
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Forgive me if the analogy's not meant to go that deep - locked in as long as they don't negotiate a higher salary or leave for a higher paying job during more competitive times?
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Wages are sticky in both directions; it is not the case that all workers will negotiate a 50% increase in base comp even if new market norm would be that. Inertia / like the team / don’t want to move / loyalty / etc.
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Ok what are your views on patents and NPEs? One argument for NPEs is that they are a symptom of companies that refuse to license without a lawsuit...
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