Every year, Google chief economist Hal Varian and his team publish an economic impact report. In their 2016 report, they estimated that during the prior year, Google increased US economic activity for their customers by $165 billion. They base this figure primarily on a conservative estimate of the…
Once companies take money from venture capitalists, they are committed to aiming for an exit. A typical venture fund is a partnership with a ten-year time horizon. Most of the investments are made within the first two to three years, with some money reserved for additional investment in the compani…
[...] It is easy to blame the ability of technology to replace human labor for declining wages and increased wealth inequality. But technology is being used for cost reduction rather than to empower people and to reach for the stars not because that is what technology wants, but because it is what …