A conservative commentator questions whether Samsung Workers getting a bonus of $ 400,000 during the era of intensifying AI & tech competition. He cites the case of Musk’s ambitious space business which boasts about turning human race into multi-planetary race. He points the space X valuation is similar to the total payment given to the bonus given to tens of thousands of workers.
He acknowledges that this bonus payment has helped “street economy” with more consumption and workers are buying their own homes thanks to increased money flow. But, he claims that Korea may have missed out a great opportunity like Musk’s space-X for investment to appease those workers.
2. How is this related to the sub
(1) labor management & wage-driven growth in the AI age: Samsung and SK Hynix bonus to its workers is boosting consumption in Korea. But are they missing out an investment opportunity because of this? While Korean companies are rewarding workers, their competitors are firing workers or cutting their wages to boost AI investment. Are Korean misreading the era to be lagging behind or are they making the right move?
3. My opinion
This might be an unpopular opinion, I think having 1 Elon Musk and his space-X is worse than tens of thousand families buying their home and enjoying happy dinner in restaurants without concerns of the budgets thanks to bonuses. Westerners might prefer shiny AI and space programs…but I think the purpose of economy is bring to comfort and joy to the maximum number of people not increase numbers on the screen.
P.S. I’m critical of this deal as there is no specific plan to share AI profit with subcontractors. Samsung union made a vague promise to reward subcontractors after public outrage but no specific roadmap to implement it
1 Comment
1. Summary
A conservative commentator questions whether Samsung Workers getting a bonus of $ 400,000 during the era of intensifying AI & tech competition. He cites the case of Musk’s ambitious space business which boasts about turning human race into multi-planetary race. He points the space X valuation is similar to the total payment given to the bonus given to tens of thousands of workers.
He acknowledges that this bonus payment has helped “street economy” with more consumption and workers are buying their own homes thanks to increased money flow. But, he claims that Korea may have missed out a great opportunity like Musk’s space-X for investment to appease those workers.
2. How is this related to the sub
(1) labor management & wage-driven growth in the AI age: Samsung and SK Hynix bonus to its workers is boosting consumption in Korea. But are they missing out an investment opportunity because of this? While Korean companies are rewarding workers, their competitors are firing workers or cutting their wages to boost AI investment. Are Korean misreading the era to be lagging behind or are they making the right move?
3. My opinion
This might be an unpopular opinion, I think having 1 Elon Musk and his space-X is worse than tens of thousand families buying their home and enjoying happy dinner in restaurants without concerns of the budgets thanks to bonuses. Westerners might prefer shiny AI and space programs…but I think the purpose of economy is bring to comfort and joy to the maximum number of people not increase numbers on the screen.
P.S. I’m critical of this deal as there is no specific plan to share AI profit with subcontractors. Samsung union made a vague promise to reward subcontractors after public outrage but no specific roadmap to implement it