1/ Zero marginal cost of digital technologies is replacing normal distributions with power laws
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Replying to @albertwenger
2/ Happening for startups but also for content, eg Youtube video views
4 replies 30 retweets 37 likes -
Replying to @albertwenger
3/ Compared to normal distributions power laws tend to amplify luck more than they do skill, expertise, effort, …
9 replies 42 retweets 76 likes -
Replying to @albertwenger
4/ This is a significant source of increases in inequality
1 reply 23 retweets 42 likes -
Replying to @albertwenger
5/ And an argument for higher marginal tax rates
6 replies 19 retweets 54 likes
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