How the Rich & Powerful Exploit Cheap Labor

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[jaketran]

✅ They do all the recruiting and vetting for you
✅ Reduce your payroll costs by up to 90%
✅ "We used Paired to find us a support engineer - they found us an overqualified candidate at about 25% of the cost of hiring in the US. The whole process was super easy and saved us a ton of time, and I can’t recommend them enough!" - Hayong, Founder of HYP

[soothethesoul]

I live in Zimbabwe and I've barely worked for a company in my country since I graduated from college. The thing is in most third world countries a $2000 dollar salary will actually enable you to live a very comfortable lifestyle if not luxurious compared to most. Couple that with a few good paying side gigs and you're actually quite rich. So in that case I don't think I'm being exploited because my own country can't even afford to pay me the kind of salary I get from working an online job.

[settherayjerry]

That’s why companies want to replace workers with A.I. even if the A.I. makes a far inferior product/service, it’s still much more cost efficient because they don’t have to pay the A.I. any wages

[NjabuloJrZhou]

One of the most fascinating concepts in Economics is what is referred to as "Market segmentation". It basically highlights how market makers are able the charge different prices for the same product in different markets... segmentation can be achieved geographical and now even digitally. It can apply not just to products and services but to labour markets too

[geanettepartington]

This is how all the American & Canadian medical transcriptionists lost their jobs, over 10+ years ago. Only problem is, WE were actually GOOD AT IT. Then we helped TRAIN their "speech recognition systems" and their "electronic health records" and the next thing you know, after they cut our pay repeatedly (getting Less Money for More Work) to help train their computers, our jobs were totally eliminated. (Join the Club)

[tedcruz]

I like to thank Jake for giving me a game plan for if I ever become rich and powerful.

[caiusKeys]

Have felt the gravitational pull of this economic dynamic for years, but thanks for stating it so explicitly and clearly.

[cryptosalmon]

Unironically Jake is godly at advertising

[Vitlaus]

The people who rule capitalism/communism, are the same people.

[paulocuento]

im a filipino. and i have a lot of indian friends. i also teach in a tech college.. its the reality of our situation as 3rd world countries. we can also say everyone benefits from this give- and- take situation because it spreads the knowledge of american corporate complex to 3rd world locals, and US grows its economy cheaply.

its not just about cheap labor. nor is it exploitation. its generally the next industrial revolution after ww2 and cold war. but now more sophisticated with economic and political implications. co dependence is a form of alliance.

the long term goal here for us 3rd world countries is to catch up with the competence of US median. then spread this level to the local industry, and eventually become powrful enough to create our own.. india is actually very good with this concept and theyre on the 2nd phase now..

after the philippine liberation from america, we couldve had this earlier. but corruption and politics got in the way. its good we are back on track albeit late for the party

[kma]

We are only beginning to see the negative effects of foreign slave labor sweatshops. Awful products, unreliable services, brain drain, and job losses are just the beginning. But go ahead, support exploitation and greed.

[JJacobs]

That's crazy they think we do the bare minimum when productivity has increased for decades without pay raises

[guusgeluk]

Cheap labor is also why all the rich countries/continents are importing so many immigrants.

[fastonchisanga]

'When favouritism replaces meritocracy it destroys the motivation and inspiration of hard working people ' cheap labor is exploited by these greedy men, , jake thanks again for the heads up

[christianchellis]

The rich and powerful do a great job of having us believe that currency is a fair exchange for all the labor we provide for them. It’s not.

[Trizzer]

When they "exploit cheap labor" those pay rates increase over time for the people being "exploited"

[leftright]

I work for a large company that uses India for IT assistance. I can't ever understand a thing they say. I literally need a translator just to understand their English. So frustrating.

[markh]

I'm assuming offshoring is a big topic.

Also child labor (like in the Congo with Cobalt, used for EV production)

[christopherhumphrey]

AI is taking a lot of positions away from the college educated. Financial advisor is one of them.

[youcanchangereality]

This and corruption methods are all business and political science major students talk about during lunch at cafes, we're screwed 😭😭😭