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Because the phenomenon of (mostly young) professionals trying to get market rate for their work was novel, a name was invented for it: "Yuppies." The reason that seems an obsolete 80s word now is that we don't need a word for it now; now we take it for granted.
A couple years ago I spent several months figuring out and describing what happened in the US around 1980. Unfortunately it has more than just economic implications. If you want to read more about it, see http://paulgraham.com/re.html
What Is That Topic What It Is Regarding About ??
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We could do with a modern day Roman forum IMO.https://blog.eutopian.io/building-a-better-linkedin/ …
This is a classic! I love the LEGO vs DUPLO analogy, still think about that years after reading this essay for the first time
I love this essay. A couple years on, I would say the only point I would emphasize more is the difference in how equity is distributed. The norms in Silicon Valley are radically different than what had been the standard approach in decades prior. Incentives matter.
A hidden problem for labor is that labor unions tend to negotiate for short term benefits rather than optimizing for long term benefits, which would better align interests with shareholders. Management is often complicit with labor because CEO tenure is short term.
Woah did you update your site?
Great stuff, but seriously please get an https. Really bothers me seeing “not secure at the top”. Just a suggestion
Super interesting!
This was around the period where the Federal Reserve was trying to stop inflation by raising interest rates.
Things like cars were already going to the Japanese, but this only accelerated the process.
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