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Silicon Valley Is Not a Bubble About to Burst, Report Says - Digits - WSJ
"Thanks to a growing wage gap, nearly 30 percent of the region’s population does not make enough money to meet their basic needs without public assistance, the report finds. The median income for high-skilled workers in the region is $118,651, while the median wages for low-skilled workers is $28,847.

And the income gap between the sexes is worse in the region than nationwide, the report shows. For workers with bachelor’s degrees, median income for men was 61% higher than for women in Silicon Valley – for a difference of $34,233. That gap is growing, and compares with 48 percent in the United States as a whole."
startup  sillyvalley  bubble  futurehistory  america  economics 
17 days ago by sha
What is Google building? | FT Alphaville
“We were struck by a line from Kas Thomas, who thinks Google is turning into Yahoo (and will end up buying Twitter as it tries to stay relevant).

Along the way, there will be layoffs. Google’s R&D and G&A spending are out of control.

Presumably someone in Mountain View does keep an eye on the total, but even if research and development spending is under control, it is large: $10bn last year.

Self-driving cars, faster search, Android, Google Glass, Google Hangouts, cardboard virtual reality. Experimentation is probably better than dropping $11bn on, say, Autonomy, but still, Google must be up to something big, right? Otherwise 15 per cent of revenues on R&D might suggest a slightly frantic search for the next big thing.

Although, when it comes to developing hardware, the point made by Marianna Mazzucato still stands, tech giants are standing on the shoulders of the government-backed researchers who invented most of the technology which make phones such marvels.

The sums involved also help to explain the mania which has gripped the technology world. If the price of staying in the game is going to be tens of billions of dollars, throwing some of the cash at a promising start up can make sense. So the boom is perhaps different to previous mania’s in that the greater fool isn’t just stock market investors looking for a hot public offering, there is also a small collection of very rich uncles who could just turn up and buy everything in sight. Mark Zuckerberg isn’t Lex Luthor, he’s the Count of Monte Cristo.

Still, for all that cash some might expect there to be a grand plan. What is Google building?”
google  spending  research  economy  development  bubble 
18 days ago by migurski
Baby Animated GIF
TFW when you have to tattle-tale on your cofounder to his parents
urbit  bubble  trainwreck  from twitter
6 weeks ago by qwzybug

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