The pressing question is: where are the companies that pay 1/7 if the salaries elsewhere and use the low prices to drive their SV competitors out of the market?
I imagine the answer runs around government intervention and wealth concentration.
I imagine the answer runs around government intervention and wealth concentration.
The consolidation / concentration issue applies more to normal businesses. Regional banking, for example is dead, and that has all sorts of negative impacts on places that aren’t the biggest cities. Not only are the workers gone, but there’s no commercial banking available anymore.