We can talk about wages and employment rates, and race all day long, but those are just details. It's human greed in the end, and our inability to love others like we love ourselves.
"It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own self-interest. We address ourselves not to their humanity but to their self-love, and never talk to them of our own necessities, but of their advantages”
The Silicon Valley isn't really an 'American' centre, it's like a 'Global Centre' where for the first time, indiviuals can have massively disproportionate, global impact.
A doctor may earn a big income, but he can only work on so many patients where as some global firms ... the yields are huge.
Coupled with some automation and large scale immigration of unskilled labour in North America which hurts labour, and outsourcing as well ... it creates a schism.
But remember that on a global basis, billions are being lifted out of utter and abject poverty.
It's mostly a good story.
We have to figure out the working class in advanced nations.
I actually do believe that it's mostly about good jobs, decent services, decent community. That's all there really ever was.
Impact is the reason why an elementary school teacher gets paid in the low-to-mid 5 figures and a professional ball player can get paid 7 figures. Usually, a school teacher has 20-30 kids in their classroom, while a professional ball player can indirectly influence tens of thousands of kids and adults in their "buying" decisions.
Impact is why Franz Schubert died poor and why Ozzy Osbourne made millions.
Technology can exponentially increase your reach and your impact. Ozzy in the medieval ages would have been just a tale told between towns. If you are a skilled marketer, the Internet is your oyster.
The biggest winners will be investors in tech, not employees, who will do well, but not as well as capital FYI.