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Silicon Valley will destroy your job: Amazon, Facebook and our sick new economy

Stashed in: Zuck!, Amazon, economics, Jeff Bezos, Uber, Sergey Brin, Silicon Valley

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As Paul Krugman has noted, Amazon is behaving more like a monopsony than a monopoly, using its market position to drive down vendor prices rather than jack up consumer prices. Uber’s doing both. It has been using market position to force drivers into accepting lower wages. And it has telescoped the “lure ‘em, then monetize ‘em” strategy into a very short time frame. First it attracts customers with low-cost rides, then it uses something called “surge pricing” to jack up charges at peak times (and, it has been charged, to make unseemly profits from Hurricane Sandy).

Oh, this is the least if it.  Read the article.

Just wait till Uber replaces all of its drivers with self-driving cars.

Robots will do all the work; software will mediate; humans will do all the paying.

But really, is there any other way? Amazon will replace all of its shippers with drones, too.