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Comment by password1 | Hacker News Reader

Please burst your bubble and consider that there is WAY more going on in the world than tech and software. The idea that you can point at something as complex as monetary economics and say "I know what's happening and I can trace it back to 15 years" is absurd and over-simplistic.

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No big sector has seen similar level of YoY growth like tech. STOXX 600 is almost flat for last 20 years. While S and P 500 and Nasdaq rose 5-10 times over that period. While tech is not everything for the economy, it seems tech is everything for economy growth in past 30 or so years.

But stock growth and economic growth doesn't necessarily go hand in hand. Much of the stock market growth came from Central Bank policy.

Stock market growth is also something that isn't necessarily benefitting the country where a stock is listed. A european investor can buy Apple stock and participate the same was an an American one.

That tech stock growth doesn't translate to any benefit for the average citizen.

For me (as an average citizen) the growth the US stock market was the easiest (and probably the only) way to keep at least some value of my money... (Not all, because my real basket of goods is very different than what is used to calculate inflation...)

No, but it is a proxy for growth of profit, goods and services, and jobs

If workers get more pay, it can take from profits and share values go down, but the economy can still go up.

Same if industries just gets more competitive, the economy can go way up with no change or with a loss in profit.

Please edit swipes out of your comments here. They degrade discussion and you can make your substantive points without them.

https://news.ycombinator.com/newsguidelines.html

There is not, and never has been, anything going on in the world of monetary economics other than tech. Going back thousands of years.

"Tech" is a force multiplier, whether that tech is factories, steam engines, gunpowder, chariots, printing presses, or software. The people who have the best mastery of the currently-most-useful force-multiplier tech at a given time tend to do very well.

Software, broadly, just currently happens to be the most useful force multiplier. That may change to the subset of software that is ML, or it may change to robotics, or something else entirely like synthetic bio.

making a blanket dismissal and providing no actual argument or data doesn't exactly help

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