> But as a business owner, I would absolutely expect my employees (and vendors) to use these tools to go faster, just like laptops make them go faster than typewriters. It's not like it's causing the employee 4x more effort for that 4x output, is it?
what this means is that the business owners capture all of the benefits of the increased productivity (which is what we've been seeing for decades)
>what this means is that the business owners capture all of the benefits of the increased productivity (which is what we've been seeing for decades)
Not really. Even though labor's share of GDP has steadily dropped for the past half century, it's on the order of 4% for the past 70 years. Real GDP per capita on the other hand has more than tripled in the same time period.
Because there's an enormous and growing gap between top compensation and lowest quantity pay, a better comparison would be to look at _median pay_ as a share of _GDP per capita_.
"business owners" by definition, means capital. AI engineers, quant traders, and bankers making 7 figures TC doesn't magically mean they're "business owners" in "business owners capture all of the benefits of the increased productivity".
You can keep seeing this through an adversarial lens. And I could just respond with some flippant remark like “well, they’re the ones that pay the bills” - but all that does is create a false battle between parties that have a shared interest (that of making a living and providing value)
Either way, I do care tremendously about the power of efficiency. That can sometimes lead to better profits, but more likely leads to happier customers and more business, which helps the employees.
what this means is that the business owners capture all of the benefits of the increased productivity (which is what we've been seeing for decades)