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The Great Decoupling of Labor and CapitalA programming note: I initially wanted to cover Microsoft’s earnings today, but I am changing the schedule a bit as I felt more inspired to write today’s piece. Almost two decades ago, Hewlett-Packard (HP) was the first tech company to exceed $100 Billion annual revenue threshold in 2007. At that time, HP had 172k employees. The very next year, IBM joined the club, but IBM had almost 400k employees. Today’s megacap tech companies all exhibit a common characteristics: their growth is pretty muc 2025-11-02T07:43:23-0800 MBI Deep Dives 2,000 words Rated 2025-11-08T10:49:09-0800 - sethherr
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