why don’t people realize that raising wage is not the solution? 

businesses end up hiring less, and many end up going bankrupt. https://i.imgur.com/1wNFZKJ.jpg

building @perl & @offmarket | fid #539 | resuming /cheesecoin once we hit pmf 🎯

The only problem is externality pricing.

Building https://negationgame.com

def not simple - but im seeing from many smb owners hiring significantly less and working more themselves. 

this was closer to a statement of a problem than an announcement of a solution ofc

I don't think it's quite that simple. I'll send through some links

im only talking SMBs and less complex jobs that can/will be automated in the future.

and fyi - increasing price and reducing cost does not necessarily lead to more profit. 

1. people buy less when the price rises.
2. the business stumbles/shuts down since it’s not making money.
3. everyone is let go.

are you willing to double what you pay if that meant making them “feel” more valuable?

But it is ok then that CEOs and shareholders get raises. (They can increase price and reduce cost to make more profit, which to me is kind of getting a raise) ? 🙄😒

/max • /bracket • @quickcast • /coys • maxp.co

by creating more future proof jobs. jacking up wage will kill more SMBs and accelerate automation

How do you address income inequality without directly raising wages?

How people should catch up with inflation ?

Do they though? What data are you seeing that leads you to this conclusion? What is the solution? (Actually what is the problem we’re trying to solve?)

High minimum wage great!
Automate the mcDonalds of the world!
Then invest in upskilling ex McD emoyees so their productivity justifies the high wages!

Actually just do step 3 and keep the state out of it

also, keep in mind that the first fully automated mcdonalds was launched in a state where the minimum wage is $7.25

*shocked pikachu meme*

in the advanced world?

no, this is not a solution

in a broken us legal situation?

this is the only solution that can be implemented

stop theorizing, start thinking about how things will turn out on practice

you can't fix the underlaying issues in us

you have to fight the symptoms

I think this would have happened no matter what the minimum wage is. It’s just a technology shift that will rid some jobs and create new ones

It’s ok:) better for the game changers:) you cannot change the game is the game is already perfect 😎

California has a higher minimum wage. Most small businesses are hiring illegals and paying less than the minimum

Though the elite feels good that they are so progressive and are “helping” the poor

brutal truth: because many people don’t understand economics

Politically motivated people prefer to think in terms of intentions not consequences