Comment by Someone1234 | Hacker News Reader

Comment by Someone1234 | Hacker News Reader

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> Why do like half of the world's tech billionaires live in Silicon Valley?

Because wealth is concentrated at the top... That's the whole problem. Society gets poorer while the ultra-wealthy continue to accumulate wealth.

> It allows the less privileged to build a good life, but it also hinders the most ambitious ones.

Good..? So your complaint is that Nordic countries try to make give everyone a good standard of living rather than creating poverty so a few more millionaires can become billionaires? That argument doesn't make any sense to me. I don't even see where you're coming from.

> We can argue endlessly whichever is better for the society, but professionals often choose the place to live based on what is best for them, not what political model some place runs on.

A lot of professionals aren't ultra-wealthy though. They're the ones working longer hours in the US for similar pay relative to most of Europe. They're being exploited harder and seeing nothing as a result except their proportionate spending power diminish further as their healthcare costs continue to outpace their wages.

You are in no way answering to the question: why in Silicon Valley and not in Finland or other countries?

Because the military-industrial complex of the world’s largest super power invested in the basic research and infrastructure to create this context. It’s the same reason the Soviet’s excelled in technological pursuits relative to many small European countries and why Russia still has an outsized place in IT.

Because Finland, while would appreciate having such large companies, doesn't want this kind of shitty social environment and inequality, so it doesn't encourage it. Besides, it does just as well (and ever better than the US for the large majority of its citizens) without having billionaires...

> So your complaint is that Nordic countries try to make give everyone a good standard of living rather than creating poverty so a few more millionaires can become billionaires?

That's putting words into my mouth. I'm not complaining, merely observing. You're free to want more socialism, nobody is stopping you. I'm not saying one system is better than the other, they all have their own merits.

USA attracts top talent with top salaries, these are the people who are prepared to work hard and expect to be compensated well for that. They understand it's a sacrifice and they're willing to make it. Working willingly hard for a high compensation is not what I'd describe as exploitation.

Such a person in a Nordic country is working hard yet not compensated well for it. I don't see that as a better outcome for them and neither do they - that's why they emigrate to the USA. It's hardly relevant for building their own lives that there's some poor people living elsewhere in the USA.

The poor do not get poorer. It's not a zero sum game. The size of the pie is constantly increasing in absolute terms.

I don't think you understand how US salaries compare to European ones, it's not even close.

>The poor do not get poorer. It's not a zero sum game. The size of the pie is constantly increasing in absolute terms.

Much slower than the pie increases. In fact slices (salaries) in the US have been almost stagnant since the 70s, while the "pie" got 10x the size...

1. Almost stagnant means that they did not increase their % of wealth - their wealth increased. 2. Focusing on income ignores the plummeting costs of goods, what they can buy is much better and more plentiful than they could in the 70s.

>Focusing on income ignores the plummeting costs of goods, what they can buy is much better and more plentiful than they could in the 70s.

Actually the most important good, a house, is much more expensive to buy/rent than in the 60s/70s.

There were times when a middle class family with one working member could afford a house and send the kid to college without huge debt - something near impossible now even with 2 working members.

As for goods, those are hardly a compensation, if people work crazy hours, with stagnant pay, and get less share of _their_ society's wealth (their current society's, not compared to 20, 30 or 1000 years ago, which is what matters. We don't compare ourselves with medieval serfs or cavemen to see if we're doing OK, and we don't pat ourselves in the back in 2019 if we live in a trailer park because we have electricity and some rich person in 1800 wouldn't).

So, yeah, thanks to cheap foreign manufacturing one can have more stuff (just not the important stuff, like house and healthcare and education and better job conditions).

Agreed, healthcare, education, and housing -- the three most regulated and corrupt industries have grown at an accelerated rate. The are hurting people -- they are caused by unlimited loans (education), corruption/bureaucracy/regulation (healthcare), and housing (government regulation/zoning). These have nothing to do with income and production, but instead are caused by poor governing policies and regulation.

Also goods, e.g. electronics, media, communication, food, are of a higher quality than they were in the 70s -- a substantial qualitative difference that is hard to measure and compare over time.

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