The world does not need more incubators and startups (for the most part). It needs better public policy, governing, and a more equitable distribution of resources.
"The future is already here — it's just not very evenly distributed." -- William Gibson
Same with crumbling infrastructure, affordable housing & education and other such things in the USA.
32 hours a week. Every hour after 32 and before 40 would be time and half. Every hour after 40 and before 50 would be double. Hours after 50 would be billed at triple the hourly rate.
I would only change the hours. Not rates, or anything else. Let the market settle out the rest.
I've been working as a SWE now at 35 hours a week for almost 4 years (admittedly at a lowend SWE salary [but still much higher than average, we live pretty comfortably]) and honestly I can't even imagine going back to 40+ hours a week (or 60+ when I was a fresh out of college kid at a start up) The extra time now I spend with my family, and just getting stuff done has been so much more valuable than I ever could have imagined.
It's something I wish I could spread to others. When I was at a startup I scoffed at people going home at 5-5:15. Considered them not "passionate about the product".
Oh how misguided I was...but I digress.
What business is it of yours? Geez.
Wages need to continue to be driven up while also reducing the minimum number of hours per week making a worker considered full time.
Unless, of course, you are in a salaried position. Then you can work as many hours a week as your employer and you agree on.
A higher standard of living for everyone is a great idea. How to do that over a long period of time in a society is a hard problem. I think it probably consists of letting people decided for themselves how to live their lives and have as little central planning, state control, and corporations as possible, but who knows?
It wouldn't happen right away, but would creep up, and people would feel they'd have no choice because they need a job and all other companies by that point would be doing the same thing anyway.
Just look at the video game industry, where the supply for jobs is so high and people are willing to put up with so much shit to live their dream that it has a notorious 'crunch time' of 60-80+ hour weeks, sometimes lasting for years on end, and just expected of you.
It's gotten so bad in that industry there are (supposedly) legitimate efforts to unionize to protect the workers. You don't see that in any other software development field.
That's basically what you're advocating for.
The overtime needs to be there as a check against the corporation's own greed and psychopathic indifference towards its employees' well being. The financial disincentive is the only thing that stops the employer from allowing these abuses in most cases.
Instead, we're living in a bizarre opposite world where nothing makes sense.
https://www.google.com/search?q=financial+independence+retir...
Not saying this is the right thing for everyone. Lots of people would hate it, and that's fine. The nice thing is that we all get to choose what's best for ourselves.
I know several people who could retire tomorrow and never work again but they keep working away anyway. If your premise is we would all like to stop working but can't because we aren't deploying tech correctly or don't have the money to do so, why do large numbers of these people exist?
Throw out all your ideas about economics and politics. You want as many people as possible to have a comfortable enough life to pursue things they find fulfilling without stress about survival. You're an engineer, how do you do it?