alt Hacker Newsnot saying it’s necessarily a good thing but offshoring and financialization enabled American companies like Apple to retain a much larger chunk of profits and return more wealth to shareholders, who in turn recycled that money back into American assets, lowered cost of capital, raised valuations, funded startups that raised tech salaries and pulled global talent at the expense of other countries
In an alternate universe, keeping manufacturing industries and jobs onshore would likely have come at the expense of American dominance and high salaries in tech, and higher cost consumer goods - probably not a huge deal to most people
> but offshoring and financialization enabled American companies like Apple to retain a much larger chunk of profits and return more wealth to shareholders, who in turn recycled that money back into American assets, lowered cost of capital, raised valuations, funded startups that raised tech salaries and pulled global talent at the expense of other countries
So trickle down, but it only helps a small number of people in a handful of coastal cities? And imports people into the US to then take work from citizens?
And even that is no longer really happening (except for the importing people to take work from citizens), and hasn't for a few years now (not sure if you've seen the tech job market at the moment). Yes, there was a brief period of time that a few technologists were making 6 figures starting..