Coinbase lays off around 1,100 employees

Re:Coinbase lays off around 1,100 employees by RyanHamilton on Tuesday June 14, 2022 @03:19PM (#31744625)

What source are you basing that on? You can find countless sources that show the 0.1% owning an ever greater share: https://www.theguardian.com/business/2014/nov/13/us-wealth-i... "Over the past three decades, the share of household wealth owned by the top 0.1% has increased from 7% to 22%."

[ Parent | on HN ]

Re:Coinbase lays off around 1,100 employees by criley2 on Tuesday June 14, 2022 @03:48PM (#31745048)

I'm basing that on global numbers, not national numbers. Sure, I don't doubt that in developed economies inequality is getting worse.

But in the past 4 decades, I'll remind you that around 800,000,000 Chinese (that's eight hundred million people) were lifted above the global poverty line and were able to stop subsistence farming. https://www.worldbank.org/en/news/press-release/2022/04/01/l...

So to say that global inequality is getting worse, when billion+ have been lifted out of abject poverty in that time, it's not correct to me. Things were worse 40 years ago when billion+ more humans were below the global poverty line, even if today billionaires are even richer than the middle class.

[ Parent | on HN ]

Re:Coinbase lays off around 1,100 employees by RyanHamilton on Thursday June 16, 2022 @04:25AM (#31763677)

Inequality is about the ratio of high earners to low earners. What you have linked to is a different concept, i.e. absolute income. Income inequality in china also increased, see figure 5: https://blogs.lse.ac.uk/businessreview/2019/04/01/income-ine...

Imagine you live in a neighbourhood of 50 people. Everyone starts earning more, that's absolute income increase. Then imagine your richer neighbours income has increased 100x faster than anyone else, that's income inequality.

[ Parent | on HN ]

Re:Coinbase lays off around 1,100 employees by owisd on Tuesday June 14, 2022 @04:33PM (#31745671)

There's a good video on how that $1.90 is arbitrary and too low, and if you try to come up with a poverty line from first principles, you end up more in the $5-$12 range, where it doesn't paint such a great picture. https://www.youtube.com/watch?v=fo2gwS4VpHc#t=19m16s

[ Parent | on HN ]