[c1sc0]

In the 70s the top 1% couldn’t even conceive of the power they’d have in their pockets one day. Today both billionaires and the rest of the world can have access to that same power. We’re all carrying the same phones in our pockets after all.

[zorked]

I will give you all the power of my phone and you give me a billion dollars.

Easy trade right.

[kortilla]

You missed the point. In the 70s you didn’t have the ability to give someone the power of your phone. If you did, the ultra wealthy would have paid a billion for it (inflation adjusted).

The technology you take for granted is huge. Warren Buffet said he would rather give up flying on a private jet, than give up his smartphone.

[zorked]

No, you missed the point. Something that is a baseline today is being used to justify absolutely colossal disparity in how people live on the unimaginative base of "gee, you are not a caveman".

Your phone does not mean that you don't have to work three jobs to have a roof over your head and can't have a family. Having a phone does not make you rich.

[kortilla]

You need to reread the thread. There are some things that are significantly better for common people today. So much better that the richest people would have given up significant chunks of their fortunes for them in the 70s.

This does not mean it’s still difficult to get housing. It’s just a point that one aspect of our lives is unfathomably better than before and now we take it for granted.

[RhodesianHunter]

Power to search the internet != Food and housing.

[hamdouni]

Rich people benefit from poor people too

[2devnull]

Poor people benefit from lightbulbs too.

[EVa5I7bHFq9mnYK]

Haha, poor billionaires. Just can't improve your iPhone no matter how many $$$$ you throw at it. The most expensive smartphone to date is an iPhone6 with a huge diamond protruding from it.