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YouTube was founded in 2005 by three people. Less than two years later, the company was purchased by Google for about $1.65 billion. At the time of its acquisition, YouTube employed a mere sixty-five people, the majority of them highly skilled engineers. That works out to a valuation of over $25 million per employee. In April 2012, Facebook acquired photo-sharing start-up Instagram for $1 billion. The company employed thirteen people. That’s roughly $77 million per worker. Fast-forward another two years to February 2014 and Facebook once again stepped up to the plate, this time purchasing ...more
Rise of the Robots: Technology and the Threat of a Jobless Future
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