Re:The K-shaped recovery
by SuoDuanDao on Friday September 25, 2020 @02:37PM
(#24592796)
It's probably not so cut and dried. Those with their own island fortresses can certainly ride out almost anything. But 'upper classes' is more often thought of as the top 10%, and I think a lot of them are quite vulnerable to a sudden change in the economy.
They may not rely directly on consumers, but they almost certainly rely indirectly on consumers. People are very bad about reasoning about feedback loops, especially so when there are delays in the loop.
I used to think so too, but I'm not so sure anymore. Modern tech companies can operate with very few employees, and by relying on income streams like ads and selling personal information, they don't even rely directly on consumers. So with that in mind, I can now imagine a cloud city of the 1% floating above the exploited masses.